Property Division Lawyer Serving Fort Worth & Tarrant County
Experienced Asset Division Attorney, Zoe Meigs, Protects Your Assets
The division of marital assets is a major part of most divorce cases. This process can be relatively straightforward or it can be extremely complicated, depending on factors such as when the assets were acquired, the marital or separate property characteristics of the assets, and how and why the assets became more valuable over time. Additionally, there may be emotional attachments to property, which can add to the complexity of the division.
In a perfect world, divorcing couples would be able to work together to divide their property without needing to get the court involved. But in reality, litigation is sometimes necessary to settle disputes over who is entitled to what property and assets. The good news is that there are also out-of-court settlement options available, including settlement conferences and mediation, that can help settle these conflicts.
My firm, The Law Office of Zoe Meigs, P.C., assists clients throughout the Fort Worth & Arlington areas with the entire divorce process, including the division of marital property. I am the lawyer to turn to in order to make sure that you receive a fair divorce settlement, including important assets such as real estate, retirement accounts, investment accounts and business assets.
Do you have questions about dividing property & debts during divorce? Call my Fort Worth family law firm at 817-336-2325 to arrange a consultation or visit my property division FAQs for additional information.
The Difference Between Separate And Community Property
Texas is a community property state. That means in Texas there are two types of property in a divorce, community property and separate property.
- Separate property is property that was owned by one spouse prior to marriage. Examples may include personal property, inheritances, proceeds from legal settlements and gifts. This property is not subject to division during divorce.
- Community property, also known as marital property, includes all assets that were acquired by either party during the marriage. Complicating matters is the fact that increases in income and income from separate property can be considered community property if it is generated during the marriage.
As you may suspect, it isn’t always easy to determine which property is separate and which property is marital in nature, especially because some property can have characteristics of both. Complications can also arise when valuing assets and figuring out how and why a separate asset increased in value during the marriage.
For these reasons, it’s extremely important to have an experienced lawyer on your side when dividing assets, especially if there are complexities or questions over who is entitled to what. I can address the division of assets of all kinds, from the family home and bank accounts to businesses and retirement accounts including military retirement accounts.
At The Law Office of Zoe Meigs, P.C., I use my background in corporate, business and securities law, and often bring in financial experts to help with property valuations and appraisals. After the property has been accurately identified, I make sure it is divided as fairly as possible. Sometimes this process takes place during negotiations, while other times litigation is necessary.