Property Division in Texas
Retain Legal Counsel with Our Tyler and Mineola Family Law Attorney
In divorce settlements, property division is one of the most complicated aspects. While it can be accomplished by agreement, property division is typically done through litigation. At Campbell Law Firm, our lawyer possesses the extensive knowledge of Texas divorce proceedings to guide you through each step of the way. With more than 30 years of experience, our firm is capable of obtaining your desired outcome.
Separate Property vs. Community Property
In any divorce, there are two types of property: separate property and community property. Separate property is what you had possessed prior to marriage. However, even when you are married, you can still maintain the separate property in the form of a direct gift, inherited money or property, initial escrow payment or a personal injury settlement.
Community property consists of assets accumulated from the date of your marriage until the date of your divorce. This can include income, commissions, bonuses, employment benefits, retirement plans, and stock options. The power to divide marital property is given to the Texas courts, where judges will determine a reasonable division arrangement based on the needs, interests, and rights of all parties involved, including children.
It’s imperative to be honest about what you own. Any discrepancy found by the judge may negatively impact the final decision.
Let Us Protect Your Rights
We understand how overwhelming and stressful the divorce process can be. Our Tyler and Mineola family law attorney has helped couples come to an agreement regarding property division problems by mediation and negotiation. If aggressive action is necessary to protect your interests and rights, we are capable of moving your case to court.