Regardless of the duration of the marriage, it is common for couples to accumulate property and assets that need to be divided in the event of a divorce. Although Texas laws offer specific guidelines for property division in a divorce, disagreements may arise regarding the characterization of certain assets.
In divorce cases, there are two categories of property: separate and community. Separate property is exclusively owned by one spouse, which may include property acquired before the marriage or designated as separate through a prenuptial or postnuptial agreement. In addition, money obtained in a personal injury case or property received as a gift, inheritance, or bequest is considered separate property. Conversely, property acquired by either spouse during the marriage is generally presumed to be community property. A spouse who challenges the characterization of community property must prove by clear and convincing evidence that it is separate property.
If the parties involved in a divorce case can reach an agreement on how to divide community property, they can submit the agreement to the court for approval. However, if the parties cannot agree, then Texas law requires that the court divide the community property in a way that it considers fair and equitable. This does not necessarily mean that the court will divide the property equally, but will take into account factors such as the contributions made by each party to the community property, the age, health, and earning capacity of each party, and the primary caretaker of any minor children. The court may also consider tax implications and any fault in the divorce when determining how to divide the community property. To ensure that you receive a fair distribution of assets in a divorce, it is essential to seek the guidance of an experienced family law attorney.
When the court issues the divorce decree, it will also direct the division or distribution of community property in a way that it finds equitable. This will include both liquid assets and tangible property, such as real property, as well as intangible assets like the right to proceeds from any life insurance policy or retirement benefits. In cases where the court orders a portion of one party's retirement plan to be awarded to the other, a Qualified Domestic Relations Order (QDRO) is typically employed to facilitate the division of property. It is important to note that the QDRO is distinct from the divorce decree and outlines the specific terms for assigning a portion of the benefits to the former spouse. The QDRO must meet certain requirements and gain approval from the retirement plan administrator before it can be implemented.
Getting in touch is easy. Use the form below and request a free consultation today.
In order to best prepare yourself during the divorce process, it is vital that you have a
qualified divorce attorney by your side. Our divorce law firm is dedicated to providing knowledgeable, professional, and effective legal counsel for all types of
family and
divorce matters. When you work with our experienced Dallas family law attorneys, you can trust that we will have your best interests in mind.
In Texas, marriage laws grant equal rights to both partners for the fair division of community property. Despite this, disagreements often arise regarding the nature of the property and what constitutes a just division during divorce proceedings. The attorneys at Wilson Whitaker Rynell specialize in managing legally and emotionally challenging issues related to property division. Our firm represents clients in divorce cases in various Texas cities, including Dallas, Austin, Houston, Fort Worth, and all cities within Dallas County, Tarrant County, Collin County, and Denton County.
Recognized in the legal industry as dedicated board-certified lawyers and Rising Stars.
Your project will be handled by legal experts every time. You will have the most experienced attorneys working for you.
Let's talk about your legal issue
Wilson Legal Group P.C.
d/b/a Wilson Whitaker Rynell
(972) 248-8080 (Dallas) MAIN OFFICE
(713) 830-2207 (Houston) Appointment Only
(512) 691-4100 (Austin) Appointment Only
For more information on how we can assist in your intellectual property, commercial litigation, divorce, or other personal needs, let us know how we can help you:
WILSON WHITAKER RYNELL
Thank You for Contacting Us!
Your information has been sent, and we will contact you shorlty...issues.
WILSON WHITAKER RYNELL
Oops, there was an error sending your message.
Please try again later.
Disclaimer:
This form does not establish an attorney-client relationship, and should only be used to contact the firm about scheduling a call or meeting. No confidential or sensitive information should be sent using this form.
We represent clients nationwide, including Dallas, Austin, Houston, and other Texas areas such as Fort Worth, Arlington, Carrollton, Plano, Allen, Lewisville, Flower Mound, Irving, Denton, McKinney, North Richland Hills, and all cities within Dallas County, Tarrant County, Collin County, and Denton County.
Wilson Whitaker Rynell
16610 Dallas Parkway, Suite 1000
Dallas, Texas 75248
972-248-8080 (MAIN)
972-248-8088 (FAX)
info@wrrlegal.com (E-MAIL)