Property Division in Divorce
First, individuals in Houston Texas require experienced representation when facing property division in divorce. Apart from the emotional impact, dividing property demands detailed attention and know-how. People worked hard to acquire their home, retirement and savings. Indeed, skilled attorneys such as Eric and Michelle Schmidt understand the complexity of the Texas Family Code. Ultimately, the Texas Family Code governs divorce property division. Importantly, Eric and Michelle Schmidt believe that educating the client reduces stress and confusion.
Second, although many people seeking divorce understand that Texas is community property state. A seasoned attorney, such as Eric and Michelle, know how to help client’s understand not to bank on overly simplistic formulas. if it were only as simple as understanding community property, many headaches would never happen!
To be clear, the law and courts presume that whatever property or assets exist at the time of divorce were acquired during the marriage. That may be far from true. Particularly in a second marriage, individuals may marry with substantial assets. Assets owned on the date of marriage remain separate property absent the parties entering into a Partition and Exchange Agreement. The Texas Family Code provides that gifts and inherited property are separate.
Ultimately, a seasoned attorney, such as Eric and Michelle guide clients to create a detailed “inventory” of all property. That process often aids in the determination whether property is community or separate. When did the client first acquire the right to ownership of the property remains the question. Often, that answer reveals whether it is separate or community.
Divorce remains stressful and overwhelming for most. Therefore, seeking experienced representation typically reduces anxiety. Since 1980, C. E. Schmidt & Associates has assisted clients through the process. Contact us today for a consultation – (281) 550-6650