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 are 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!
Hiring a Forensic Accountant
When a couple attempts to divide marital property during the divorce process, our Austin, TX property division lawyer will tell you that any number of challenges may add to the complexities inherent in the situation. Couples who have been married for more than several months tend to co mingle their finances in ways that make them difficult to separate. Bank accounts, retirement funds, real estate deeds and other assets are often so intertwined that dividing them becomes a stressful process for individuals. Gray & Becker, P.C. are trusted Austin, Texas property division lawyers who are here to help you.
In addition to dividing the obvious tangible assets and personal property, couples may be compelled to split stocks, bonds, various financial accounts and other intricate holdings. These financial assets may be difficult to understand, even at their most basic level. As a result, complex financial assets may also be startlingly easy for one spouse to hide from another. If an unsuspecting spouse does not know what to look for, it may be easy for a less scrupulous spouse to take advantage of the situation. This is why our Austin, TX property division lawyers can employ our resources, including a forensic accountant to assist with the division of assets during the divorce process.
Do You Need the Services of a Forensic Accountant?
If you are concerned that your spouse may be hiding assets from you and/or your assets are particularly complex, our property division lawyers based in Austin, TX may recommend the services provided by a forensic accountant. These professionals are usually Certified Public Accountants with unique experience navigating the assets of divorcing couples. It is important to seek out the services of a forensic accountant who has trustworthy credentials
Once financial disclosures have been submitted to the court, a forensic accountant will investigate these disclosures, accounts held by both spouses and financial records. When appropriate, the accountant will conduct an audit in order to determine whether any disclosures are incomplete, falsified or otherwise in need of attention. If your spouse has been hiding assets, your Austin, Texas property division lawyer, with the help of a forensic accountant may be able to help you find evidence of this misconduct. This will allow your Austin, TX property division lawyer to bring this information to the attention of the court.
Partnering with Your Property Division Lawyer in Austin, TX
It is important to understand that hiring a forensic accountant is a decision worth discussing with your lawyer. This is because in some cases, your lawyer may have the necessary skills to gather the necessary information without this necessary resource. It’s important that your Austin, TX property division lawyer is “looped in” to this decision, especially considering they will be responsible for bringing any information found to court. You may wish to grant permission for your lawyer and your forensic accountant to speak with each other whenever they deem such communication to be appropriate and necessary.
Legal Help Is Available
If you have any concerns about the divorce process generally or property division specifically, please consider speaking with an experienced property division lawyer in Austin, TX. Lawyers who specialize in the divorce process will be able to advise you about any legal options available to you once they learn the details of your specific situation. No two divorces are exactly alike. As a result, it can be beneficial to consult with a lawyer who has significant experience with the ins and outs of both the divorce process and any laws which affect it. Consulting with an Austin, TX property division lawyer will not force you to take any specific kind of action. Instead, this kind of communication will simply allow you to make informed decisions as you determine what path will be healthiest for you to follow.
For more information about how Gray & Becker, P.C. can help you contact us today to speak with our experienced Austin, TX property division lawyers.