As if the divorce was not hard enough, it is now time to divide your assets before you can officially move on from your spouse. If you and your soon-to-be former spouse have various assets that need to be accounted for, allocated, and divided, a family attorney could support you throughout the asset division process.
Asset division in a divorce proceeding can be one of the most contentious and challenging aspects of the process. Texas is a community property state, meaning that community property laws govern property division. These laws can make property division even more complicated. A Houston property division lawyer understands the ins and outs of community property law, as well as the high stakes involved in dividing property.
Community property simply means that assets and debts acquired during the marriage and that are subject to division in a divorce. While this is the general rule, there are important distinctions between community property and separate property. Community property includes income, real estate, other assets acquired during the marriage, and any debts, while separate property includes assets owned before the marriage, inheritances, and gifts received by one spouse during the marriage.
Community property is generally divided equitably between the parties. This does not mean, however, that a court will only consider an equal division. Courts will consider various factors before making a determination, such as the length of the marriage, each spouse’s earning capacity, and the needs of any children.
Murff factors are a set of considerations that judges use to determine whether a strictly 50/50 division of marital property is fair or if an unequal distribution is warranted. These factors are particularly relevant in complex cases where one spouse may have contributed significantly more to the marriage—financially, emotionally, or otherwise.
Key Murff factors include:
Whether you are a high-earning professional, a stay-at-home parent, or someone facing unique circumstances, understanding Murff Factors is crucial to achieving a fair outcome in your divorce. Talk with our property division lawyer in Houston to learn more about how these factors may influence your case.
Property division is rarely linear or straightforward, especially when significant or complex assets, such as businesses, are involved. In fact, some of the most significant assets in a marital estate, such as retirement accounts and business interests, are often not properly considered or weighted. Common issues that may arise include:
A diligent property division lawyer in Houston could help individuals navigate these challenges and work toward a resolution that protects their financial future.
At Day Family Law PLLC, we understand that individual interests vary case by case. That is why we take a personalized approach to property division. An asset division lawyer in Houston could assist with the following:
Our goal is to provide peace of mind during this challenging and emotional time, ensuring an individual’s property division is handled efficiently and effectively.
When it comes to property division, having an experienced legal advocate on a person’s side could make all the difference. At Day Family Law PLLC, our attorney has a deep understanding of Houston property division laws and how they apply to complex cases. Attorney Mike Day consistently prioritizes an individual’s unique needs and works tirelessly to protect their interests. He has a track record of achieving favorable outcomes for clients, even in the most challenging property division cases.
If you are facing a divorce and have concerns about property division, a Houston property division lawyer at Day Family Law PLLC could advocate for your best interests and work toward securing a successful resolution.
Call us today to protect your interests and secure your financial future.
Family law is personal, and every situation is unique. We offer clear, compassionate guidance to help you navigate divorce and other family matters with confidence. Contact us to discuss how we may assist you with your case.
