Knowledgeable Divorce Attorney Oversees Division of Marital Assets in Texas
Experienced management of property settlement litigation
Dissolving your marriage can create a great deal of uncertainty and anxiety surrounding your finances. Although Texas law requires that marital property be divided in a manner that is “just and right,” the state gives the court wide discretion in deciding what constitutes a fair split. Obtaining what you view as a fair property settlement can be difficult. It requires meticulous attention to detail and calculated legal strategy. Attorney Jerry Porter has more than 30 years of experience, including managing litigation of complex marital estates. I am determined to see that my clients get the maximum distribution allowable from their marital estate.
Understanding the “just and right” division of property in Texas
The division of your community estate has three stages. First, the court must classify property (assets and debts) as either marital or non-marital. Only marital property is subject to division; non-marital property belongs exclusively to one spouse or the other. Secondly, the court must assign a value to each item of marital property. Finally, the court must divide the property in a manner it deems fair and just:
- Classification — Marital property is property that is accumulated during the marriage. Non-marital property is property brought into the marriage or received as a gift or inheritance during the marriage. The line between these two types of property can become unclear when marital property is commingled with non-marital property.
- Valuation — Certain assets are inherently difficult to assign a value. For example, how do you value a business or professional practice where the income is dependent on the work of one spouse? What about insurance policies, pension plans and stock options? The family pet?
- Division — The court considers several factors in determining how to divide property. These include the length of the marriage, the contribution of each spouse to the accumulation of assets and debts, and nonmaterial contributions to a household. Division may also be subject to a prenuptial or postnuptial agreement.
Property division during divorce can be complex. It is also very difficult to predict how a court might rule during any of the three stages of the process. You must not assume the court will order an even split. Instead, consult a qualified family law attorney who has managed the division of complex marital estates. In my practice, I try to negotiate fair property settlements so that my clients can get a fair result without risking an adverse court ruling. However, when negotiations can’t resolve an issue, I litigate aggressively, presenting a well-prepared case to the court. I have helped many clients embroiled in high net-worth divorces. This experience has prepared me to capably represent people of means, including executives in the oil and gas industry and their spouses. If you have assets or debts that are unclear in ownership or value, I can help you obtain a fair result.
Contact a Texas divorce attorney who understands just and right property distribution
A fair distribution of property is essential for you to get on firm financial footing after your divorce. The Law Office of Jerry Porter has the knowledge and experience necessary to help you address these issues. If you’re in The Woodlands, Montgomery County or the greater Houston area, call 281.296.3131 or contact us online to schedule a consultation.