Property Division Lawyer Austin, TX
Even under the best of circumstances, transitioning a single married household into two separate households is a significant challenge that requires an Austin, TX property division lawyer. Under the most complex of circumstances, property division matters during divorce can seem downright unmanageable. Thankfully, divorcing couples do not need to navigate these obstacles alone. Whether one’s property division issues are relatively straightforward or are seemingly impossible to resolve, the experienced Austin, TX property division lawyers at Gray & Becker, P.C. can help. Our lawyers are generally well-versed in strategies designed to “conquer” property division challenges in fair and productive ways.
Most often, property division matters begin with determining what is, and is not marital property. Unless an exception or extreme circumstance applies, assets, debts, and property acquired during the course of a marriage will be treated as marital in nature. Practically speaking, this means that the value of these marital assets, debts, income, etc. may be split evenly during the divorce process. However, despite this, Austin, TX property division lawyers can tell you that a judge will determine how property is equitably distributed based on what is “just and right.”
Dividing Marital Debts and Assets Fairly
Once the scope of a couple’s marital property value has been determined, it becomes time to actually start dividing assets. This can be done in any number of ways. Sometimes, it makes sense to sell a mutually-owned asset in order to divide the proceeds from the sale. For example, many couples opt to sell their marital homes during their divorce processes. Once the proceeds are split, they can be used to help finance the new places that each affected spouse will live.
Austin, TX property division lawyers are aware that this model doesn’t make sense for every couple or every asset. Sometimes, it makes sense for one spouse to retain ownership of an asset (like a marital home) while the other retains ownership of an asset or assets which are similar in value. If one spouse remains owner of the marital home, the other spouse may opt to retain ownership of the couple’s retirement accounts and third car. As long as the value of marital assets is divided fairly, in many cases, a judge will approve of this as long as both parties are in agreement.
Not every couple can agree upon the equal division of all valuable and sentimental assets. In such cases, you may require an Austin, TX property division lawyer to assist in negotiating an agreement. If such approaches fail to produce desired results, a judge may need to intervene in order to ensure a fair property division settlement.
Our Austin, TX Property Division Lawyers Can Provide You with Divorce Guidance
If you have questions about divorce or property division matters specifically, please consider connecting with an experienced property division lawyer Austin, TX residents turn to. Just as no two marriages function in exactly the same way, no two divorces progress in exactly the same way. Speaking with Gray & Becker, P.C., Austin, TX property division lawyers will allow you to obtain knowledgeable answers to your questions and professional support for the road ahead. It is important to understand that scheduling a consultation with a lawyer does not commit you to pursuing your divorce in any specific way. Taking this initial step simply helps to ensure that your decisions are truly informed as you move forward. Contact the Austin, TX property division lawyers you can trust at Gray & Becker, P.C. today!