When navigating the complexities of asset division in Texas, you need a seasoned attorney. At the Law Office of Nancy Perry Eaton, PLLC, we are committed to delivering top-notch legal representation in asset division matters. Our Killeen asset division attorneys are here to guide you through the intricacies of dividing assets during divorce or other legal proceedings.
Call the Law Office of Nancy Perry Eaton, PLLC, today at (254) 221-8588 or contact us online to schedule a request with our asset division attorney in Killeen.
What is Asset Division?
Asset division, or property division, is a critical aspect of family law that involves allocating assets and debts between parties during divorce or other legal proceedings. It is a process that can be emotionally charged and legally complex. At the Law Office of Nancy Perry Eaton, PLLC, asset division requires meticulous attention to detail, a deep understanding of Texas law, and a commitment to protecting our clients' best interests.
Assets subject to division can include a wide range of properties, such as:
- Real Estate: This includes marital homes, vacation properties, and investment properties.
- Financial Assets: Bank accounts, retirement accounts, stocks, bonds, and other investments.
- Personal Property: Vehicles, furniture, jewelry, artwork, and other valuable items.
- Business Interests: Ownership stakes in businesses and professional practices.
- Debts: Mortgages, credit card debt, and other financial obligations.
How Are Assets Divided in Texas?
In Texas, asset division follows the principle of community property, meaning that all assets obtained during the marriage are typically deemed community property and are subject to division. However, this does not mean that assets are divided equally; rather, they are divided in a form that the court deems fair and just.
Factors that may influence asset division in Texas include:
- Length of the Marriage: The duration of the marriage can impact how assets are divided, with longer marriages often leading to a more equitable division.
- Financial Contributions: The financial contributions of each spouse to the marriage, including income and property acquired, can be considered.
- Economic Circumstances: The financial situation of each spouse post-divorce, including their earning capacity, health, and childcare responsibilities, is considered.
- Fault in the Breakdown of the Marriage: In cases where one party is at fault for the marriage breakdown, such as adultery or cruelty, it may influence asset division.
- Agreements: The court will generally uphold those agreements if spouses have a prenuptial or postnuptial agreement outlining how assets should be divided.
- Children's Needs: When children are involved, their needs and best interests will also be considered in asset division.
It's important to note that not all assets are subject to division. Separate property, which includes assets owned by one spouse before the marriage or received by gift or inheritance during the marriage, is generally not subject to division. However, providing evidence to establish that an asset is separate property is crucial.
Contact Our Asset Division Attorney in Killeen Today
At the Law Office of Nancy Perry Eaton, PLLC, our Killeen asset division lawyer has extensive experience in Texas family law and is here to protect your interests throughout the process. We are committed to assisting you secure a fair and equitable division of assets and protecting your rights throughout the process. Your financial well-being is our priority, and we are here to guide you every step of the way.
Contact the Law Office of Nancy Perry Eaton, PLLC, today to get started with our Killeen asset division lawyer.