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Property Division Archives

Negotiations for property division best done with legal guidance

Those going through a divorce in Texas typically want it over and done with as soon as possible. This mindset can have adverse consequences, though, as matters agreed to at this time may affect a person's finances both immediately after the divorce and for many years to come. It makes good sense to retain the services of an experienced divorce attorney to provide guidance throughout negotiations about property division and other divorce matters.

Property division process can be full of pitfalls

Texas residents who are considering divorce may be unprepared for the complexities involved in the process. One aspect that can be more complicated than anticipated is property division. It is always beneficial to have skilled legal counsel to provide guidance because there are certain matters that require careful and thorough consideration.

Property division issues in each Texas divorce are different

Anybody in Texas who is considering a divorce will likely learn that some unwritten rules generally apply. Every divorce is unique, and although there will be an endless stream of advice from others who have gone through their own divorces, there is no precise comparison between any two divorce cases. The facts involved in every case will determine the way in which property division, child custody and other issues will be resolved.

Don't forget to address future finances during property division

Navigating a divorce is rarely easy, especially when trying to do it without professional guidance and support. It is not uncommon for a divorcing spouse in Texas to focus on the property division process under the community property laws of the state and to neglect consideration of post-divorce financial needs. Both short- and long-term financial requirements of the soon-to-be single person must form part of the planning.

Property division negotiation costs in divorce can be limited

The intentions of many newly married couples in Texas are to live in marital bliss forever. Unfortunately, not all relationships stand the test of time, and ending a marriage is not only an emotional affair; it could also be a financial nightmare. However, thoughtful and strategic planning -- and disregarding misinformation and feelings of revenge, rage and bitterness -- can allow couples to secure their respective financial futures. A divorce is typically associated with time consuming and costly litigation over property division and child custody, but alternative options are available.

Property division in divorce: Who will get the family business?

According to a study by a university located in another state, over 80 percent of businesses nationwide -- including many in Texas -- are family owned. What happens to a business that is owned by a husband and wife in the event of a divorce? Texas is a community property state, and relevant laws govern property division. A Texas marriage creates a community, and although assets owned before the marriage remain the property of the owner, assets acquired during the marriage generally form part of the community.

Even in mediation, property division requires careful planning

Sometimes, when Texas individuals decide that divorce is the only way forward, they may want to get it over and done with as soon as possible. However, divorce is not something to be rushed into, and careful consideration and planning are required for property division and other issues to avoid post-divorce financial instability. When a marriage is dissolved, expenses increase because there will be two households to maintain, two mortgages or rents to pay and utility bills will be double while the combined income of the two parties will remain the same.

There are alternatives to litigation for property division issues

It is often suggested that staying in a bad marriage is more traumatic than going through a divorce. Those in Texas who are delaying divorce action because of the high costs typically associated with it may benefit from exploring alternatives to litigation. Collaboration and mediation are both options that may limit the costs while providing a platform to reach mutual agreements on issues such as property division and child custody.

Husband thought secret divorce could avoid property division

Dividing marital assets in a Texas divorce can be difficult and sometimes it gives rise to high levels of contention. Some individuals will go to any lengths to avoid property division and sharing their assets with their spouses. A 59-year-old woman in another state recently filed a lawsuit against the man to whom she thought she was married for 20 years.

Support and preparation can benefit property division in divorce

Divorce is rarely easy, but proper preparation may make the process less traumatic. Once a Texas spouse has made up his or her mind to divorce, there may be questions about the type of proceeding to pursue. Divorce options include litigation, arbitration, mediation or a collaborative divorce, and the decision will likely depend on the nature of the relationship between the spouses at that time. Negotiations about issues such as property division and child custody may be easier achieved when the split is amicable, but impossible in cases in which there are high levels of contention.

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