Asset Division in Tarrant County Court
In the labyrinth of divorce proceedings, the division of assets emerges as a challenge.We examine the intricacies of community and separate property in Tarrant County, Texas, to understand asset division. We cover at hidden assets, complex asset valuation, and negotiation tactics to secure a fair outcome in your divorce.
What is Community Property?
Navigating asset division in a divorce is complex. A qualified Tarrant County family law attorney protects your interests, identifies what’s rightfully yours and helps you get a fair outcome.
Texas is a community property state, and Tarrant County follows these laws. In general, most assets and income earned during your marriage belong to both spouses. This includes:
- Wages and salaries
- Business income
- Property purchased during the marriage (homes, vehicles, etc.)
- Retirement accounts accrued during the marriage
- Debts incurred during the marriage
What is Separate Property?
Separate property is not subject to marital property division. Common examples include:
- Assets owned before marriage
- Inheritances received solely in one spouse’s name
- Gifts explicitly given to one spouse only
Important to note: The burden of proof is on the spouse claiming separate property. Keep good documentation like deeds, bank statements or gift records.
Hidden Assets
Unfortunately, attempts to hide assets during a divorce are not uncommon. If you suspect this, your attorney can help:
- They may suggest forensic accountants to trace financial transactions
- Utilize discovery processes to subpoena records
- Work with investigators if necessary
Complex Asset Division
Certain assets require specialized knowledge to divide fairly, and we’re here to help!
Businesses
Valuation may require an expert to assess the company’s worth and future income potential.
Retirement Accounts
Rules vary for 401(k)s, pensions, etc., so a professional helps ensure proper division.
Investments
Stocks, bonds, real estate holdings, or other investments may require appraisal and careful distribution.
Spousal Support (Alimony)
In Texas, spousal support is less common but may be awarded in specific circumstances (long marriage, disability, etc.). An attorney will advise you if your case qualifies.
Child Support
Texas has specific guidelines for determining child support based on income and custodial arrangements.
Prenuptial and Postnuptial Agreements
If you have either of these agreements in place, they will likely dictate how assets are divided outside of standard community property law.
The Negotiation Process
Asset division in a divorce can become contentious. However, reaching an agreement through negotiation or mediation is often preferable to a court battle. An experienced attorney is essential for the following:
Protecting Your Interests
Ensuring you fully understand your rights and the value of your marital property.
Skillful Negotiation
Advocating for a fair outcome that avoids you losing out on what you deserve.
Managing Complexity
Navigating complex divisions and working to find creative solutions for both parties.
Lawyer for Asset Division in Tarrant County
The division of assets and other legal processes can feel overwhelming when you’re already facing the emotional turmoil of a family law case. I’m deeply experienced with Tarrant County laws and procedures — and committed to getting you and your family the best possible outcome. Please reach out today and begin working on your next great chapter.
I’m Spencer Nilsson, a divorce attorney passionate about helping you navigate the legal process. In 2013, I founded Nilsson Legal Group, focusing solely on family law. Since then, our team has helped hundreds of Tarrant County clients achieve their goals within the family court system. We understand the emotional and legal challenges families face during divorce, and we’re committed to providing compassionate and skilled representation.