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Property Dispute Roadblocks in High Asset Divorce

Posted on in Complex Property Litigation

b2ap3_thumbnail_property-division.jpgWhen a couple has difficulty seeing eye to eye as they begin the process of ending their marriage, it often takes an aggressive divorce attorney to step in and help address the core legal issues and ensure that the client’s best interest is protected. It is not uncommon for disagreements to arise about everything from alimony and child support to the division of assets and parenting plans.

Property Division According to What Is “Just and Right”

One area in particular that can cause problems for divorcing spouses is the ownership and division of property. Usually, courts in the state of Texas will divide property based on what they believe is best for everyone, taking into consideration the needs of the family, instead of dividing property equally.

Factors such as the spouses’ incomes, the needs of any children involved, and who was at fault for the breakup are all taken into account when property division decisions are made. In some cases, when both spouses agree on the division of property, the court will sometimes approve the agreement and everything is deemed settled. Regardless of how the court arrives at a decision, state law requires the court to approve an arrangement that is “just and right.”  This makes splitting property more complex of a matter than merely dividing the ownership down the middle.

Separate Property and Fraud

Other disputes that can arise include disagreements over property and other belongings that were acquired before the marriage but that were later shared as a couple, as well as attempted fraud. Sadly, some people attempt to shortchange their spouses by withholding information about certain assets or by hiding them altogether.

Although everything a spouse acquired before the marriage is considered by law to be separate property and not community property, some divorcing couples still argue over what is actually separate property or who claimed a certain possession and at what point during the marriage. Spouses experience conflict regarding all kinds of belongings, including real estate holdings, investments, personal business earnings, pensions and 401(k)s, tax debts, inheritances, and more.

Property litigation roadblocks such as these can cause a lot of additional stress, resentment, anger, and confusion between two parties. Unfortunately, these situations do arise, so it is important to understand your rights and to seek out proper representation to protect yourself. An aggressive Cedar Park complex litigation attorney can help. Contact The Law Offices of William D. Powers at 512-610-6199 for a consultation today.

 

Sources:

http://guides.sll.texas.gov/community-property

http://www.statutes.legis.state.tx.us/Docs/FA/htm/FA.7.htm

 

The Law Offices of William D. Powers

8911 N. Capital of Texas Highway, Building 2, Suite 2105, Austin, TX 78759