Dallas Property Division Lawyer
Property Division Lawyer in Dallas, TX
Facing a divorce in Dallas is never easy. Several challenges can arise, causing animosity between the couple. One of these is the process of dividing property between the divorcing spouses. No matter your income level, whether you hail from Highland Park or call South Dallas home, dividing property can be emotionally and legally complicated. It is wise to proceed with the guidance of a Dallas property division lawyer.
At Cruz Arevalo, our attorneys come with over a decade of legal experience in family law. We understand just how difficult your divorce case may be, and we know how you want to protect the property that is rightfully yours. We can guide you through the process with experience and compassion. Our main priority is to focus diligently on protecting your rights and making sure your divorce ends with you having the assets that are rightfully yours.
Here When You’re Ready to Talk
Aquí cuando estés listo para hablar
Understanding How Property Is Divided in Dallas
With a divorce rate of 1.9 cases per 1,000 residents, Texas sees many property division cases. When a couple chooses to pursue a divorce, their property, which encompasses all assets and liabilities, is subject to an equal division between the spouses. Keep in mind, however, that the phrase “equal division” does not always mean a perfect 50/50 split.
When a couple cannot reach an agreement regarding the division of their property, they will need to have a Texas family court judge do it for them. For many people, this might be the first time they will need to step into the George Allen Court Building on Commerce Street in Dallas. However, when you work with the attorneys at Cruz Arevalo, you can gain the confidence of knowing that someone familiar with these courts is on your side.
Factors in Property Division
When you appear before the judge in a property division case, they will take several factors into consideration before making their determination. These include:
- The length of the marriage
- Any income disparity between the spouses
- Whether the divorce involves child custody
- The health of each spouse
- The educational background of each party
- Whether either or both spouses own a business
- Any presence of fault in the marriage, such as allegations of abuse or domestic violence
What Is Divided in a Divorce?
While many people understand that some forms of property will be divided in a marriage, they might not know the full scope of what “marital property” involves. Not only can it include the marital home or bank account, but it can also encompass debts. In a divorce, the property that is typically subject to division, otherwise known as community property, can include:
- Retirement accounts or pension plans
- Any business interest owned by either spouse that was acquired or gained value during the marriage
- Marital debt, including home loans, vehicle loans, personal loans, and credit card debt
- Retail properties
- Intellectual property
- Any vehicles, such as cars, boats, recreational vehicles, or jet skis
- Trust assets
- Jewelry
- Life insurance policies
- Personal belongings acquired during the marriage
For some people, there might not be much to worry about in a property division. Dallas has an average of around $67,000 per household. You may simply need to look at your gross income, home, vehicles, and bank accounts. These cases can seem clear, but the Texas property division laws are complex. In any situation, our attorneys can make sure you get your fair share.
There can be cases involving several streams of income, a significant amount of assets, or a couple who own a business together. In these situations, the division of marital property can get heated, and it is vital to have a Dallas property division attorney on your side.
The Texas Property Division Process
The property division laws in Texas can involve quite a few intricate steps. In many cases, the courts may intervene when the couple cannot make decisions together. Nevertheless, couples are typically encouraged to try handling their property division on their own. In either case, it can prove useful to know the steps involved. That way, you can make informed decisions regarding your legal options. These steps include:
Identifying Separate and Marital Property
The first step in property division will be to classify all the assets and debts held by either spouse as community or separate property. Separate property typically includes:
- Any property owned before the marriage
- Any debts incurred before the marriage
- Any property protected by a marital agreement
- Gifts or inheritances given to one spouse before or during the marriage
Asset Valuation
You will then need to have all assets valued to ensure a fair division. This can include determining the value of all properties, investments, business interests, and financial accounts.
Other Factors Considered in the Division Process
The courts will then take various factors into account, such as the:
- Earning capacity of both spouses
- Contributions of each spouse to the marriage, both financial and non-financial
- Custody arrangements of any minor children involved in the case
Negotiation and Mediation
Most often, it is in your interests to negotiate the property division agreement out of court, as this will typically save you both money and time. Mediation can allow you and your spouse to take part in a productive discussion, which can lead to a personalized and amicable outcome.
Court Proceedings
If negotiations and mediation do not work out, the courts will need to become more involved. If so, it is of absolute importance to have an attorney on your side during this step. They can assert your rights and advocate for what you deserve.
Enforcement of Court Orders
Once the division of all shared property is determined, either through negotiation, mediation, or court hearings, the courts will issue official orders to enforce the division. If your ex-spouse does not comply with the order, they can suffer legal consequences. The attorneys at Cruz Arevalo can make sure the other spouse honors the divorce decree.
Hire a Property Division Lawyer From Cruz Arevalo Today
When you hire a property division lawyer from Cruz Arevalo, we can work hard to protect your property and other assets. No divorce is easy, and figuring out how your shared property will be divided can be stressful. You can rely on our team to make the process smoother and far less complicated. We have represented clients through countless divorce and property division cases, and we can do the same for you. Contact our offices today to learn more.
