Pursuing The Correct Property Division Remedy
Going through a divorce can be frightening, especially when you consider that you and your soon-to-be ex will likely have to divide up all marital assets. During a time like this, many concerns may begin to rush through your mind. Is it possible that I may have to split property that I owed before we got married? Will I even have enough to start my new life?
We at McElyea Law are here to answer any questions you may have regarding asset division in Texas. Under the leadership of divorce lawyer Tom McElyea, our main goal is to help you through this difficult time so that you can concentrate on moving on with your life. Attorney McElyea understands the intricacies of Texas property division, and he will personally handle every aspect of your divorce.
Understanding Community Property Divisions In Texas
Texas is a community property state, which essentially means that all property acquired by either spouse during the marriage must be split equally between the spouses in the event of a divorce. Community property may include, but is in no way limited to:
- Homes and land
- Cars
- Bank accounts
- Retirement plans, such as 401(k)s
- Stocks and bonds
- Household items and valuable collectibles
- Businesses
Conversely, any property owned prior to marriage is considered separate property and does not have to be divided upon divorce ― meaning you get to keep it.
However, it is important to keep in mind that asset and property division is not the only family law issue that may need to be resolved during divorce. In fact, spousal support and maintenance ― also known as alimony ― is routinely a contested issue as well.
Dealings With Prenuptial Agreements
Oftentimes, couples in Texas enter into prenuptial agreements in order to pre-emptively deal with issues of asset division or alimony. Indeed, prenuptial agreements are not only an effective way to address these matters but they can give you the security in knowing you have already planned for the unforeseen.
Straightforward And Honest Legal Counsel
If you have concerns regarding divorce and asset division in Texas, or questions about prenuptial agreements, contact property division attorney Tom McElyea today. In many cases, McElyea Law offers free initial consultations. With an office located in Southlake, we assist clients throughout the Dallas and Fort Worth areas. You can reach us online or by calling 817-754-1570.