Property Division Attorneys in Waco, TX
Protecting Your Assets and Interests
One of the most contentious issues in a divorce is the matter of property division. Texas is a community property state, but contrary to what many often assume, it does not mean that marital property and assets are always divided equally. When rendering such a decision, a judge must review the facts of the case and divide property in a manner that is “just and right”. At Blanchard & Thomas, LLP in Waco, our team will work to ensure you receive the best possible results for your case.
Factors Considered During the Property Division Process
A judge will consider numerous factors when deciding how property is to be divided during the divorce process.
Below are some of the factors that may lead to a disproportionate division of marital assets:
- One spouse earns substantially more than the other
- There is a significant difference in ages and one may have a limited earning capacity
- Fault for the end of the marriage, which Texas still recognizes
- The overall physical health of each spouse
- The amount of separate property and assets each spouse possesses
- Tax considerations, such as capital gains tax, income tax consequences, and more
- Spousal support obligations
- Child custody
- Wasteful dissipation of marital assets
- Anticipated inheritances
What is Separate Property?
Generally, any property and assets obtained throughout the marriage is considered community property and is subject to division. Identifying separate property is one of the biggest steps in the property division process, especially since no one wants their separate property to land on the chopping block.
Below are some examples of separate property:
- Property or assets owned before the marriage
- Gifts received during the marriage
- Property or assets inherited during the marriage
- Compensation for personal injuries during the marriage
In some cases, separate property may commingle with marital property, which complicates the situation, making it difficult to identify certain assets and property. For example, if you purchased a house before your marriage and your spouse contributed money towards payments during the marriage, this would be a commingled asset.
Schedule a Consultation with One of Our Experienced Property Division Attorneys!
If you are getting a divorce, you will need an attorney to represent you and ensure your assets and property are protected. At Blanchard & Thomas, LLP in Waco, our experienced divorce attorneys are committed to guiding clients through this complex legal process, so they can obtain the best possible results. You have enough to worry about!. Let our team relieve some of the stress.
We serve at the clients’ pleasure. If for any reason whatsoever the client decides he/she is better off with a different attorney or law firm, we will respectfully and professionally do whatever we can to get the new attorney or law firm up to speed and ready to handle the case. We vow to never object to a client’s request to seek alternative counsel, and we promise to return 100% of any unearned advance payments.
We play to win. While we cannot guarantee outcomes in any case, we always do our best to see that our clients come out on top. We want our clients to know without question that their success matters to us more than their payments.
We play hard, we play fast, and we stick to the game plan. We work with every client to develop a strategy most likely to bring about their success. We work hard to ensure the strategy gives our client every advantage possible and their very best chance at success. We then implement that strategy as quickly and efficiently as possible.
We make a commitment to communication. We begin and end many of our days communicating with clients. Our clients can count on us to return phone calls and/or e-mail within 24 hours except in emergencies or during announced absences from the office. We want our clients to always know what we know and vice-versa, and overcome them.
While the attorney client relationship may not always result in friendship, we believe it should always result in mutual respect. We zealously advocate on our clients’ behalf whether we agree with their choices or not. We do not judge our client’s choices; we simply attempt to help them learn from them, live with them, and overcome them.
We build our relationships upon a foundation of total honesty. Absolute honesty allows the client and the attorney to develop trust that will be absolutely critical to success in and out of the courtroom.