Untangling Complex Property
At Short Law Firm, PC, I have the skills and resources to represent divorce clients who own extensive property and other assets. I can handle complicated property division issues, including those dealing with: inheritances, pension plans, stock options, individual retirement accounts (IRAs), 401(k) and other retirement accounts, savings and investment accounts, vacation homes, boats, automobiles, antiques, furs, coins, jewelry, and interests in a family-owned or other closely held business. Couples may also be in significant debt and need to weigh the consequences of declaring bankruptcy.
Complex Assets, A Meticulous Approach
I understand how difficult a divorce can be when it involves complex property division. It may require the expertise of tax specialists, accountants, real estate professionals, appraisers, financial advisers and other experts. I know when to call in an expert on your case. I have access to a network of professionals who are experienced in complex property issues, such as the valuation of small businesses, including sole proprietorships, partnerships and closely held businesses.
As a family law attorney, I can offer aggressive representation, but I also remain sensitive to the unique issues that determine how each case is handled. I actively listen to my clients to thoroughly understand their goals and circumstances. With that knowledge, I work hard to achieve the best possible results. I will take a positive, helpful and energetic approach in assisting you through the property division process.
Frequently Asked Questions About Complex Texas Asset Division
A Texas divorce involving significant or complex property requires clear information about how the law treats marital assets and debts. The following questions and answers address common concerns that often arise during the property division process.
Is Texas a community property state? What does that mean?
Yes, Texas follows community property rules. This means that most assets acquired during the marriage are classified as jointly owned. Courts presume that any property obtained after the wedding belongs to both spouses unless it can be proven otherwise.
Property that may remain separate and not subject to division includes assets owned before marriage, gifts and inheritances. Judges divide community property in a manner that is just and right based on the circumstances of the case and may not yield an equal distribution.
What happens if my spouse is hiding assets during divorce?
Texas law requires full financial disclosure from both spouses. Concealing income, accounts or property can lead to serious legal consequences for the spouse accused of concealment. Courts may impose sanctions, award a disproportionate share of the community estate or reopen the case if hidden assets are discovered later.
Forensic accountants, subpoenas and detailed financial reviews help identify irregularities when asset concealment is suspected. These tools often reveal patterns that indicate intentional efforts to mislead the court.
What happens to the family home during a divorce?
The marital home is often one of the most valuable assets in a Texas divorce. Several outcomes are possible depending on the parties’ financial circumstances and the needs of the family. Options may include selling the home and dividing the proceeds, one spouse refinancing and buying out the other or allowing temporary exclusive use until a later sale.
Courts generally evaluate the home’s equity, affordability and the best interests of children when determining how to address the residence.
How are temporary financial arrangements handled while the divorce is pending?
Temporary orders help stabilize financial responsibilities during the divorce process. These orders may address who pays the mortgage, how household expenses are covered and whether temporary support is appropriate.
Judges consider income, access to funds and immediate needs when issuing temporary directives. These short-term arrangements typically remain in place until the final decree replaces them with permanent terms.
Get The Experienced Counsel You Need
When your divorce includes complex property matters or involves debt issues, contact an experienced Plano asset division lawyer today. I can be reached through my online form, or at my office: 972-813-9959.