Fort Worth Property Division Attorney

A primary concern that every divorcing couple faces is the division of marital property, which can become exceptionally complicated – and exceptionally contentious – exceptionally quickly. Because this division will directly affect your financial future, protecting your rights from the outset is critical. And for that, you need an experienced Fort Worth property division attorney on your side.

Even seemingly simple situations can be complicated when it comes to property division. You need to protect your future and financial interests by seeking the right divorce help.

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Identifying Marital Property

Marital property – or community property – refers to all those assets you came to own after you married. The name attached and the matter of who made the purchase have no bearing on whether or not the asset is marital. Generally, if you, your spouse, or both of you together came to own the asset while you were married, it’s marital property – with the following two exceptions:

  • One of you received an inheritance that was yours alone.
  • One of you received a gift that was yours alone.

One of the most challenging factors when it comes to the division of marital property in a Texas divorce is establishing your marital assets in their entirety.

The Matter of Separate Property

Separate property that was owned by either of you alone at the time of your marriage remains the original owner’s separate property if it’s kept separate throughout the marriage, which can be a sticking point. The matter of separate property is often more complicated than it might seem. Consider the following:

  • If marital funds are used to maintain or grow the separate property, it can dilute or alter its separate nature.
  • If financing related to the separate property is not kept separate from the household’s financials, the property may not retain its designation as separate.
  • When a separate property increases in value over the course of a marriage, such as a retirement account, the additional amount will likely be considered a marital asset.

Things can become even more complicated if the separate property is a business. For example, if the owner of the business also works there but does not pay themself a fair wage for doing so, it affects the amount the spouse brings into the household, which can nudge the business closer to marital-property status.

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The Primary Factors that Affect the Division of Marital Property

Male hand separating puzzle house with images of property, children & pets, representing property division. MBH Fort Worth | Family Law

If you and your spouse are able to negotiate a division of your marital property without the court’s direct intervention, you can resolve the matter outside of court – with the careful guidance of your respective property division attorneys. If not, however, you can expect the court to consider the following primary factors when it comes to the just and right division of your marital property in your unique case:

Each Spouse’s Financial Standing

The court will consider you and your spouse’s financial standing relative to one another. If the divorce will leave one of you without the ability to support yourself financially, it could directly affect the division of your marital property.

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Each Spouse’s Age

Your age can also play a role. If you’re both relatively young, you’ll each have the opportunity to continue forging careers that support you moving forward. If you are nearing retirement age, however, the matter is very different.

Your Shared Children

If you have shared children who will be living primarily with one of you, child support will address this fact, but the court may also take this immense expense into consideration in relation to the division of your marital property.

Your Debt

Your marital assets will be offset by your marital debt, which is the debt you accumulated while you were married. The court will consider the nature of this debt in the division of marital property. For example, if your spouse claims debt that is held by a family member or a close friend, the court may determine that it is unlikely to ever be paid back and may factor this into the division of your marital property. It’s important to note that marital debt can play a significant role in your property division overall.

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Constance Mims

Constance Mims has over fifteen years of experience practicing exclusively family law. Mrs. Mims is Board Certified in Family Law, by the Texas Board of Legal Specialization. She is Collaborative Law certified and is a shrewd negotiator, not to mention her experience in the most challenging child custody, child support, spousal maintenance, alimony, prenuptial agreements, and divorce issues, both in court and in the appellate arena.

Your Attorney Fees

While attorney fees generally come out of the marital property – reducing the amount there is to be distributed between the two of you – this isn’t always the case. If, for example, your spouse demonstrates a focused desire to rack up unnecessary legal expenses, the court can adjust the division of marital property accordingly.

Each Spouse’s Employability

The court will also consider each spouse’s level of education relative to the other’s, which closely guides earning potential. Overall employability encompasses a wide range of factors, including the following:

  • Age
  • Level of education
  • Overall mental and physical health
  • Job history
  • Job skills
  • Experience on the job

If there is a significant discrepancy between the two of you, such as the difference between a postgraduate degree and a high school education, the court will carefully consider the matter in relation to the division of marital property.

Fraud

If your spouse takes it upon themself to dissipate assets by engaging in any of the following, the court will take a dim view, and it could affect the division of your marital property:

  • Giving marital assets away
  • Loaning out marital assets
  • Spending down marital assets
  • Hiding marital assets
  • Confusing the issue of what’s marital and what’s separate

Additional Factors

Additional factors that can affect the division of marital assets include the following:

  • The length of your marriage
  • The matter of fault, such as adultery
  • How liquid are your assets are
  • The value of each spouse’s separate property
  • The tax implications of the proposed divisions of property
  • Anything else the court deems relevant to your case

Discuss Your Case with an Experienced Property Division Attorney Near You  Today

 

The experienced property division attorneys at Mims Ballew Hollingsworth | Fort Worth Family Law dedicate their focused practice to protecting the financial rights of valued clients in Fort Worth, Southlake, Denton, and nearby cities in Texas just like you. Your case is important, so please don’t hesitate to contact us for more information about how we can help today.

Client Reviews

What our clients are saying about us

Kam J.

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Hands down one of the most professional and respected family law firms around. I wouldnt trust any other firm to represent me. I have had the pleasure to be represented by a few attorneys at the firm. They are fast, respectful, and above all trust worthy.

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    I highly recommend this law firm. I have had Brian and Kelly both represent me in now three seperate cases. They are men of integrity that are very prompt to answer questions and get back to you on important matters. They have always been well organized and stayed on top of the important information relevant to my cases. ...

    Loyd Camp
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    Timothy Alexander did an exceptional job handling my divorce case. He was extremely prepared, very informative, and he made sure I was always kept in the loop. His professionalism, guidance and empathy tremendously helped during what could have been a much more difficult time. I was so pleased with the final outcome and ...

    Donna DeTomaso
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    Highly recommend this law firm. Andrew McAlester goes above and beyond for his clients. He’s very resourceful and prompt in communication. I always refer Mr. McAlester to my family and friends in their time of need because I trust his judgement and I know he has his clients well being at the forefront of everything.

    William Hawthorne
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    Tim Alexander represented me during my divorce. His compassion, empathy and communication during the process helped keep additional stresses out of an already stressful situation.

    C Grucza
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    I highly recommend this firm. I mainly worked with Andrew McAlester. Andrew was super helpful and courteous during a very stressful situation that I found myself in. Thanks for everything!

    Dante Martinez
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    Timothy Alexander is an amazing lawyer. He helped me with everything I needed to do to get my divorce final in a very short period of time. I always try to refer to him when anybody asks for a divorce lawyer. Thank you for everything you’ve done.

    Autumn Colson
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    Kelly & Brian helped us in our child custody case and I am very pleased by their work. Our case ended up last almost 2 yrs due to COVID, however they were very easy to communicate with and constantly kept us up to date on our case and the courts. I would highly recommend them if you are needing a great custody lawyer ...

    James Homerstad
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    Mr. Alexander was the utmost professional. He was timely in his communication and very thorough in his answers. His approach helped make a difficult situation tolerable. One thing I greatly appreciated is that he did not just tell me what I wanted to hear. He would offer suggestions and allow me to make the final decisio ...

    Heather Varon
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    Kelly & Brian were amazing attorneys. I came to them when I really needed help with child custody issues, and they were committed to reaching the best possible outcome. I am writing this to express my most sincere thanks, and gratitude for their professionalism. They stuck by me through the last year in dealing with ...

    Misty Benson
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    Things happen and you need someone to tell it to you straight. Andrew McAlester is someone I trust to help me navigate through these difficult times.

    Phuc Lam
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This page has been written, edited, and reviewed by a team of legal writers following our comprehensive editorial guidelines. This page was approved by Founding Partner, Constance Mims who has over 15 years of experience practicing exclusively family law. Mrs. Mims is Board Certified in Family Law, by the Texas Board of Legal Specialization..

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