Property Division

Jane-Ashley McMillan, Attorney at Law · Plano Property Division Attorney

With the exception of marriages where children are involved, the primary concern that many people have when going through a divorce involves how the marital property, assets, and debts will be divided.

If you are facing divorce and need legal advice regarding the division of property, you need a lawyer who is experienced and knowledgeable about the laws in this area. Jane-Ashley McMillan has been certified as a family law specialist by the Texas Board of Legal Specialization and represents both husbands and wives in the Plano area and throughout Dallas and Collin Counties in the division of marital property.

For sound advice and quality representation, contact Plano property division attorney Jane-Ashley McMillan today.

What is Marital Property?

Under Texas law, assets and debts acquired during a marriage are community property. When a couple gets divorced, their property is divided in an equitable manner.

Marital assets can include:

• real estate
• 401(k) and other pension plans
• personal property
• stocks, both vested and unvested
• businesses
• investments

It is important to note that “equitable”' is not the same as “equal.” Under some circumstances, one spouse may get more than 50% of the marital property.

In addition, assets that existed prior to the marriage remain the property of the spouse who had the asset, with some adjustment for its growth. Inheritance assets may also be excluded from the community property, as long as there is proof and the assets can be traced back to their origin.

If you have any questions regarding what qualifies as marital property or equitable distribution, contact the law office of Jane-Ashley McMillan today.

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