Property Division

Property Division During a Texas Divorce

In Texas divorces, the rules of "community property" govern division of property and assets accumulated during the marriage. Stated in a summary fashion, the rules of community property state that all property accumulated during a marriage is presumed to be community property — to be divided equally in a divorce.

Non-community property (often referred to as separate property) is generally anything that a spouse owned prior to the marriage. Non-community property may also include some assets acquired during the marriage — such as a bequest to one spouse or a lawsuit settlement that the spouse kept separate from the marital estate.

Property Division Has Long-Term Consequences, No Matter Your Level of Assets

Negotiating property division during a divorce should never be taken lightly, even in a marriage where the spouses have few assets. Just as marital assets must be equally divided according to Texas's property division rules, debts acquired during the marriage must also be divided equally between the spouses. Property division negotiations often blend into negotiations about spousal support as well. For example, "you can keep the house and I'll still pay half the mortgage, but I won't pay any additional alimony."

Tracing Hidden Assets: Do you suspect that your spouse owns real estate that you don't know about or has financial accounts hidden away — in the hope that he or she can keep 100 percent of those assets during the divorce? The Dallas law office of Diana S. Friedman, P.C. is admired by many local legal professionals for our skill at tracing hidden assets and uncovering marital fraud. Contact us for more information.

Property Division in Divorces Involving High Net Worth Individuals

When one or both spouses have significant assets or an intricately structured set of financial assets, negotiating a property settlement becomes even more difficult. We have a sterling reputation when it comes to managing divorces on behalf of high net worth clients or clients whose divorces will involve complex property issues. Examples of complex property issues include:

  • Family businesses — Whether the business was acquired before or during the marriage, we undertake business valuations to determine what the increase is worth over the course of the marriage, to help determine whether the non-owner spouse is entitled to a share of the business's increase in worth.
  • Stock and investment portfolios — Property division of investment portfolios can be extraordinarily complex, requiring careful tracing of each instance when a spouse's separate property was used to increase the value of the jointly held investment portfolio.
  • Retirement plans and QDROs — Like a family business, Texas' property division rules state that a nonworking spouse is entitled to a share of retirement benefits accrued during the marriage by the working spouse. We work with accountants and tax advisors to structure a payout plan that keeps our clients on strong financial footing.
  • Stock options — How do you place a value on future potential earnings? How do you accurately predict the future value of stock accumulated during the marriage?

Contact GoransonBain, PLLC.

Consult a Dallas divorce attorney who is a Family Law Specialist certified by the Texas Board of Legal Specialization, as well as a fellow in the American Academy of Matrimonial Lawyers. To schedule a confidential consultation, call (214) 373-7676 or contact us online.

8350 North Central Expressway Suite 1700 Dallas, Texas 75206 214-373-7676-TEL 214-373-9959-FAX Email Us