Round Rock Complex Property Division Lawyer

Round Rock Complex Property Division Attorney

A Round Rock complex property division lawyer can often be critical for those with unique property-related challenges. Issues like having a wide variety of different properties, owning a business, having intertwined separate and community property, or having built significant wealth during the marriage can all increase the complexity of the property division process.

For challenging property division situations, the team at the Vaught Law Firm may be the right option for you. As certified family law attorneys, we are some of the most knowledgeable and experienced family law attorneys in the state. We are prepared to take on whatever you believe makes property division a potentially complicated issue in your divorce.

What Does a Round Rock Complex Property Division Lawyer Do?

A Round Rock complex property division lawyer will likely help you through the entire process of your divorce. This means that in addition to property division, they may provide assistance with the issue of spousal maintenance, and if there are any minor children involved, with child custody and child support as well.

For all of these issues, we can help with the extensive paperwork involved, offer advice, and represent you before the court and in negotiations. What we spend more time on will depend on the direction your divorce takes. However, preparing for and participating in negotiations, as well as producing an agreement that can be submitted to the court, is often the primary function we handle. This is because the courts generally encourage a settlement rather than leaving them to decide.

For property division, we can assist you in a variety of ways. We can help you remain compliant with the necessary disclosures, explain the process, and advise you on the options you may have. We also assist with the hands-on tasks of valuation, negotiating what will be separate property and community property, and dividing that property.

How Is Property Divided in Texas?

Property division in Texas is handled according to community property rules. The first step in this process is disclosing what property both parties have. For this process, both assets and debts are considered property, and the division will address both of those issues. The disclosure of assets is important to the process, and anything being hidden, either intentionally or in error, can be treated severely by the court. It’s important that any property you have is included in this process.

Once both parties have a full picture of the property that will be involved, they can begin the process of understanding what property will need to be divided and how it will be done. As the courts generally favor couples working out a separation agreement rather than forcing the courts to decide, this is usually done through a negotiation process, such as mediation.

The more complex the situation, the longer the process is likely to take, although having an experienced, talented lawyer can often accelerate negotiations. It’s also important to recognize that even though the couple is negotiating an agreement, it must still fit the parameters of the law and will need to be signed off on by a judge.

During property division, only community property will be divided. This means that separate property will not have to be split between the couple. In Texas, the default assumption is that any property owned at the time the divorce is initiated is community property.

Separate vs. Community Property

Therefore, in order for something to be designated as separate property, it must be shown to belong to that category. Generally, separate property consists of property owned prior to the marriage and any inheritance or gifts that were given to one spouse in the course of the marriage.

Once the community property is identified, the principle for dividing the property is that it must be seen as “just and right” by the court. This does not necessarily mean that the property will be split in an even 50-50 manner.

Instead, the full scope of the marriage, the factors involved in causing the divorce, and how each couple should be expected to fare after the divorce are all given consideration when determining what is fair. In the end, the judge will only allow an agreement or make a ruling themselves that they believe meets the standard of “just and right.”

What Is Complex Property Division?

There are a number of different ways that property division can be made particularly complex. In cases where a couple married young without much separate property and had standard investments, accounts, and possibly a house, the property division may be relatively straightforward.

More complicated assets will increase the complexity of the property division process. In particular, assets like a business, retirement accounts, non-standard investments, livestock, or oil, gas, and mineral rights can quickly make the process much more complicated.

Other elements that have the potential to increase the complexity of property division include entering into the marriage with significant amounts of assets that will need to be set aside as separate property. This is especially challenging if it’s been mixed with community property. Additional rarer issues could also emerge regarding how the property has been acquired and used during the course of the marriage.

The Vaught Law Firm Can Help With Round Rock Complex Property Division Issues

Rarely is property division a straightforward process, and it can become particularly complicated by a variety of unique assets, valuable property owned before the spouses wed, or separate property that has become intertwined with community property during the course of the marriage. In these types of complex situations, it’s imperative that you work with someone who has a strong understanding of the subject and extensive experience in divorces with complex property.

At the Vaught Law Firm, we’ve seen divorces involving some of the most complicated property situations. Our talented team of certified family law attorneys is prepared to represent our clients, regardless of how complex their assets may be. We understand how to manage some of the most unique forms of property in the state of Texas and their impact on property division. If you need help with your divorce and particularly complex property division in Round Rock, Texas, contact us today.