Asset & Debt Division

Asset & Debt Division

North Texas Family Law Firm – Division of Property

The Law Firm of Aaron A. Herbert, P.C. has successfully managed complex property issues for divorcing couples, including those with high net worth. These issues include property division and the factors involved, including classification of separate versus community property, homestead, characterization of property, tracing, property acquired through gift or inheritance, property owned prior to marriage, ownership disputes, health insurance needs, and reimbursement among other things.

We believe in a high level of communication and encourage you to bring all your questions and concerns to us. We will explain the law and the process to you, as well as your options and likelihood of success, so that you can make the best decision. In addition, our lawyers maintain a strong commitment to the highest ethical standards of practice in our profession, treating you with honest, integrity and respect.

There are many common misconceptions about the division of marital property during divorce.  Attorney Aaron A. Herbert can dispel the myths and provide you with the clear advice you need to negotiate the best outcome. To schedule a free initial consultation, call (214) 347-4259 or click HERE to contact his office online.

Separate vs. Community Property

Texas is a “community property” state. Under state law, only community property can be distributed when a marriage ends. Separate property is left untouched. Texas law defines separate property as any property acquired before marriage and items such as gifts, inheritances and personal injury awards that are obtained during the marriage. Community property, on the other hand, is any property that was acquired during the marriage, and it can include any separate property that became “commingled” with community property during the marriage.

Texas courts must divide the community estate in a manner that results in a just and right division. This does not necessarily mean the property will be divided equally. An unequal division may result from the court’s consideration of several different factors, including the parties’ relative earnings and relative fault in the marriage’s dissolution, such as adultery, cruel treatment or abandonment.In some cases, marital property division becomes more intricate when the marital estate consists of extensive property and assets – these matters are often referred to as high-asset divorces or high net worth divorces. Investments, pension plans, real estate and business holdings may be vital components of your community estate, and you need an experienced legal team to assist you in making sure that you receive or protect your share.

The Law Firm of, P.C. provides legal assistance for the following marital property division related matters:

  • Business Owner Divorce
  • Complex Property Division
  • High Asset Divorce / High Net-Worth Divorce
  • Retirement and Employment Benefits
  • Separate Property
  • Characterization of Marital Property
  • Just and Right Division of Marital Property
  • Divorce Planning
  • Hidden Assets
  • Tracing

If your divorce matter involves assets and/or potential for increased debt, it is crucial that you consult a family law attorney as to the benefits of filing a temporary restraining order stop the other spouse from depleting marital assets or running up marital debt.

When the issues surround the division of property in a divorce case, it’s important to have an attorney on your side who is familiar with properly handling each and every detail to ensure that your interests are protected and the divorce is resolved without the risk of future property disputes.Attorney Aaron A. Herbert has represented Texas parties in the division of their marital property, from handling simple estates to the more complex ones involving stocks, pensions, real estate and businesses. Our firm will work diligently and aggressively to protect your rights and interests in a divorce.

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