San Benito Property Division Lawyer

Assisting Clients With Marital Property Division During Divorce in Brownsville

Going through a divorce means not only separating yourself emotionally and legally from your spouse, but also dividing up your marital property, assets, and debts. These concepts can get complicated, especially in high net-worth cases or where family businesses, professional practices, or complicated retirement or pension issues exist.

Gustavo D. Elizondo III, Attorney at Law offers seasoned legal service and strong advocacy for your property division concerns. We are thoroughly familiar with Texas law in this matter and with how the local courts operate to resolve disputes.

Need legal help with marital property division? Call (956) 275-9191 or contact us online to get the legal assistance you need today.

Is Texas A Community Property State?

Texas is a community property state. This means any property or assets acquired by you and your spouse during your marriage must be divided as equitably as possible, and equitable does not always translate into a 50-50 split.

How is Marital Property Divided According to Texas Law?

Courts can look at many factors in determining what they deem to be a fair and just if not always even distribution. If one spouse is unfairly disadvantaged in some way, the family court judge may make adjustments.

Factors that can influence how marital property and debt is distributed can include:

• Whether one spouse caused the breakdown of the marriage through fault, such as adultery, cruelty or violence, or other circumstances and the loss of financial benefits the other spouse may face due to the ending of the marriage
• The differences in earning capacity between the two spouses; in cases where one spouse has a significantly lower capacity for earning than the other, the court may award a higher percentage of property or assets
• Where spousal support (alimony) is in play
• The physical and mental health conditions of both spouses
• Whether one spouse squandered marital assets prior to the divorce leaving the other spouse with fewer financial resources
• The sizes of both the marital estate and the separate properties of the spouses; where one spouse has a significantly greater separate estate than the other this may play a role in how marital property is distributed
• Whether or not a valid prenuptial or post-marital agreement is in play
• Custody and support of children
• Tax considerations involved in the issue

Understanding how all the various factors can affect your property and debt division can be confusing and complicated. 

At Gustavo D. Elizondo, III Attorney at Law, our San Benito property division attorney can help you understand the particulars of your situation and work to ensure that your best interests are served in any negotiations or court hearings. 

We know how important this issue can be to your future financial security and that of your family as you move forward.

What is the Difference Between Separate vs. Community Property in Texas?

Community property refers to assets and debts acquired during the marriage. This includes:

• Income: Wages earned by either spouse during the marriage.
• Real Estate: Properties bought with community funds.
• Personal Property: Items such as vehicles, furniture, and household goods obtained during the marriage.
• Retirement Benefits: Contributions to retirement accounts earned during the marriage.

Separate property consists of assets that belong solely to one spouse. This includes:

• Property Owned Before Marriage: Any assets owned by a spouse before entering the marriage.
• Gifts and Inheritances: Assets received as gifts or inherited during the marriage, provided they are not commingled with community property.
• Personal Injury Settlements: Compensation awarded for personal injuries sustained by one spouse, unless the settlement is for lost wages.

To maintain the classification of separate property, the owning spouse must keep it separate from community property. This means not using community funds for expenses related to the separate property and avoiding joint ownership.

To claim an asset as separate property, the burden of proof lies with the spouse asserting the claim. Documentation and clear records are essential. This may include receipts. bank statements and title documents.

Can a Property Division Arrangement Be Modified?

Once a divorce decree is finalized in Texas, the property division outlined in that decree typically becomes binding. This means that both parties are expected to adhere to the terms agreed upon. 

However, certain conditions may warrant a modification such as substantial changes in either spouse's financial situation—such as job loss, serious illness, or other unforeseen events—, mutual agreement or if one party can prove that the other party engaged in fraudulent behavior—hiding assets or providing false information—.

Courts are often reluctant to make significant alterations to property division arrangements unless compelling reasons are presented. If this is your case, it’s important to approach the process with the guidance of a qualified property division attorney in San Benito.

The Role of a San Benito Property Division Lawyer

Engaging a skilled lawyer can significantly impact the outcome of your case. Legal representation provides clarity and guidance through the complexities of property division laws and helps protect your rights.

Our knowledgeable San Benito property division attorney will assist in the following areas:

• Asset Identification: We will work to ensure that all marital assets are identified and valued correctly. This includes not only tangible assets like real estate and vehicles but also intangible assets such as retirement accounts and investments.
• Valuation of Assets: Understanding the fair market value of assets is crucial. We can arrange for appraisals and valuations to ensure that both parties are aware of what each asset is worth, preventing unfair settlements.
• Negotiation: Property division often involves negotiations between spouses and their legal representatives. Our experienced San Benito lawyer will advocate on your behalf to reach a fair settlement that reflects your contributions and needs.
• Litigation: If an agreement cannot be reached through negotiation, we can represent you in court. Litigation can become necessary when disputes arise regarding asset classification or valuation, or when one party is unwilling to cooperate.

Ready to discuss the specifics of your property division case with our experienced family law  attorney? Call (956) 275-9191 to get started today.