Property and Debt Division Attorneys
If you live in the greater Denton, Texas area, are going through a divorce, and have a question about Property and Debt Division, you need to enlist the help of an experienced and aggressive team like Paine & Nolter, P.C.
At Paine & Nolter, P.C., our attorneys have more than 40 years of combined experience helping individuals and families in Denton, McKinney, Gainesville and Decatur, Texas with criminal defense and family law issues including Property or Debt Division. To learn more or discuss how to better protect your assets and property during divorce with a lawyer on our team, call us today at 940-382-4200 or fill out our online form below.
Property and Debt Division in Texas
One of the major issues at stake during a divorce is the question of the division of property, debts, and assets. The general standard for this division in the state of Texas is to use an equitable distribution. This means that any assets, properties, or debts acquired through the course of the marriage will become community property to be divided between the two parties in a equitable and fair way.
However, some circumstances exist where a property or debt belongs exclusively to one party or the other. For example, all property, holdings, and assets that parties owned before the marriage is not considered community and thus is separate property. In the event of a divorce, separate property is not subject to division. There are exceptions to this as well, such as circumstances where what was originally a separate property, through one means or another, loses its “separate character” and is considered by the court to be community property.
How Property and Debt Division Cases Are Decided
A spouse who claims a piece of property as separate will be responsible for proving their right to this claim in court. The court in such cases will work from a presumption that all holdings are community unless evidence is presented that indicates otherwise.
Debts are also considered part of the property division agreement during divorce proceedings. These are typically split down the middle if they are from during the marriage. A careful ledger of all debts and payment will be crucial to ensuring a fair and accurate division. Because of the sensitivity and complexity of the division process, you should prepare ahead of time with an experienced and aggressive family law attorney in your area to ensure your interests are protected.
Paine & Nolter, P.C. understands the delicate nature of division cases and has the legal expertise and litigation experience to see you through. Our commitment to you is to pursue the best course of action on your behalf, whether that be mediation, arbitration, or litigation. We have worked hard to earn a reputation as aggressive trial attorneys in order to better serve our clients. Rest assured, in the event your situation turns hostile, we will offer advocacy in family court on your behalf. Call 940-382-4200 now or fill out the form below to get started.