Marital Property Division
Determining how to divide assets and share debt that accrued during a marriage can be among the more stressful aspects of a divorce. Texas law calls for equitable distribution of marital assets and liabilities in a divorce, but that does not mean each asset or liability is divided equally.
In Texas, the property subject to division in a divorce is referred to as ”community property.” Community property must have been acquired jointly or by either spouse during the marriage itself.
Property that is acquired before marriage, inherited or received as a gift generally falls under separate property, but in certain circumstances may be included in community property.
Protecting Your Rights In Dallas Divorce
At the law firm of Lisa E. McKnight, P.C., in Dallas, Texas, our attorney and the entire legal team have a thorough understanding of the laws in this area. We know how to protect our clients’ rights.
In the community property system, the division of marital assets is determined by weighing many factors, including:
- Length of the marriage
- Earning potential of both spouses
- Individual property of both spouses
- Reckless management of marital assets
- Responsibility and care of any children
- Abuse or marital infidelity present in the marriage
Attorney McKnight has more than 24 years of experience representing individuals in the full spectrum of family law matters. Our firm is thoroughly knowledgeable about handling marital property division, including:
- Your home and your assets
- Family businesses
- Asset discovery
- Pensions and retirement funds
- Complex property holdings
- Pre-divorce planning