How Will You And Your Spouse Divide Assets?
Contact A Texas Divorce Lawyer For Advice On Reaching A Settlement
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, consisting typically of assets and debts, will be divided. Attorney Jane-Ashley McMillan has been practicing law for more than 30 years, and she provides guidance and fierce advocacy when it comes to your property and property rights.
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 and courts 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 divorces in the Plano area and throughout the Dallas, Denton and Collin counties. For sound advice and quality representation in property division, contact call or send an email to attorney Jane-Ashley McMillan.
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 according to the specific cases and the law that apply to the separate and community property of either party. Marital assets can include:
- Real estate
- 401(k) and other pension plans
- Personal property
- Stocks, both vested and unvested
- Businesses and business interests
It is important to note that “equitable” is not the same as “equal.” Under some circumstances, one spouse may get more than 50 percent of the marital property. At attorney Jane-Ashley McMillan‘s law firm, you will receive guidance on how to proceed with even the most complex property division cases.
Jane-Ashley McMillan, Attorney At Law
It is important to analyze any marital agreements or divorce settlements that were entered into, because these documents may define the outcome of the property division in the divorce. Assets that existed prior to the marriage remain the property of the spouse who had the asset, with some possible adjustment for its growth or decline. Inherited assets may also be characterized as separate 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.
Call 972-422-2424 for guidance in property division in your Texas divorce.