For Legal Advice on Property Division, Contact an Attorney
An essential element of every divorce is a determination of who will own what and who will assume which debts when the division of marital assets is complete.
Distribution of Marital Property: the House, Bank Accounts and Household Goods
Normally, the marital home is awarded to one spouse or the other. In some cases, a divorce settlement will stipulate that the marital home will be sold within a prescribed period of time. Bank accounts, vehicles, stocks and bonds, retirement plans, investments, household goods, recreational property, equipment and any other asset must be accounted for in the divorce decree.
Get Answers to Your Questions About Asset Distribution
Learn what you need to know as you approach a Texas divorce. Perhaps you suspect that divorce is in the cards but no legal action has been taken yet. Or perhaps you have received a divorce petition from your spouse. Divorce negotiations may be underway already, yet you have unanswered questions about property division.
Contact an experienced Harris County divorce lawyer at H. Steven Byers, Attorney at Law & Mediator, and schedule a consultation. Discuss any question or aspect of property division that pertains to your particular circumstances, such as the following:
- How will property be labeled as separate (premarital) property or community (marital) property? What about inheritances, gifts from family members, personal injury settlements or windfalls such as lottery wins?
- How will responsibility for the mortgage be designated as part of equitable distribution of assets and debts?
- How will home equity be split if the marital home is sold as part of the divorce settlement?
- How will child custody arrangements be affected by a sale of the marital home?
- How can you be sure that your spouse is truthfully reporting all assets and income? This question may be especially critical if your husband or wife owns a business and/or is self-employed.
- How will business valuation be accomplished?
- How might property division and alimony agreements intersect?
- How should you prepare for mediation sessions where a property division agreement will be reached?
Family Law Mediation
As an experienced family law mediator, Kingwood attorney Mr. Byers has mediated property division settlements for many other divorce lawyers' clients. He is well qualified and prepared to help his own family law clients through settlement negotiations and/or mediation, with the goal of achieving win-win results wherever possible.
Consider All Options
Tax consequences, spousal support, child support and other important factors must be considered as an equitable property division settlement is crafted and agreed upon by both divorcing spouses. Occasionally, a divorce property division case must go to court — which Mr. Byers is prepared to do with full commitment to protecting the interests of his client to the fullest extent possible.
Contact H. Steven Byers, Attorney at Law & Mediator, to schedule a consultation regarding property division — including temporary orders stipulating how bills will be paid and who will remain in the marital home until the divorce is finished.
