Chances are that during your marriage, you and your spouse increased your collective property. Perhaps you bought a new house, a new car for the family and maybe you two even decided to invest in land. But what happens to all this material property if the possibility of a divorce begins to loom?
In this situation, it’s highly important that you recognize, identify and understand all the ins and outs regarding property division. The divorce lawyers at Barrera Sanchez & Associates, P.C. are here to provide you with all the information you need.
We understand that your divorce can be extremely worrisome and difficult to deal with, but you don’t have to take the first step into your new life on your own. Know that our divorce lawyers in McAllen are here to prioritize your needs.
The Basics of Property Division
When you and your spouse decide to go your separate ways, one of the most important things you can do is be fair, open and honest during the entire thing. The property division process generally begins by taking inventory of all the things that you and your spouse have amassed during the marriage. Keep in mind that things that were owned before the marriage or given as a gift may be recognized as separate property by the state, although evidence must be provided if this is the case.
Reaching an Agreement
At Barrera Sanchez & Associates, P.C., we understand that Texas law won’t make things as easy as splitting everything in half for each spouse. In reality, the law in Texas says there must be a “just and right” division of a couple’s property. According to McAllen Attorney Edward P. Sanchez, this makes it necessary so that you won’t get bogged down in the details of splitting assets like fighting over a coffee maker.
“A parties’ focus should not necessarily be on winning the property division – your focus should be reaching a “fair” property division,” added Attorney Marcus C. Barrera.
While this may sound like a difficult thing to do, the following tips will help you take the right actions and make the decisions that will benefit you the most:
- Don’t Hide – In some cases, a person will choose to purposely hide assets like secret bank accounts from his/her spouse. Hiding any property can result in legal prosecution, so always reveal everything at the beginning of the divorce process.
- Don’t Sweat the Small Stuff – Maybe you feel as if that antique typewriter in your home office should go to you. After all, you’ve grown attached to it and have developed a significant bond with it over the years. Unfortunately, the judge overseeing your divorce will see this and other items as property and nothing more. This means he/she will not be able to order a division of property that satisfies you and your spouse. If you want a satisfactory outcome, you and your spouse will have to work together.
- Let the Experts Help – It’s not uncommon for divorce proceedings to come with their fair share of sticky situations that you may not exactly know how to deal with. Hiring a mediator can be the perfect way to deal with any issues in a swift and effective way. Additionally, an expert will allow you the time to work through the divorce process before the court becomes involved.
Weigh Your Options
During the property division process, the court may distribute the couple’s assets in the way it sees fit, whether it’s 50/50 or 60/40. If you and your spouse decide to come to an agreement, you may come to an uncontested divorce. This means you peacefully choose to divide property amongst yourselves in a peaceful manner. If an agreement can’t be reached, you and your spouse will be looking at a contested divorce.
Let Barrera Sanchez & Associates, P.C. Help
At Barrera Sanchez & Associates, P.C., we understand that your divorce process may be something too difficult and overwhelming to deal with on your own. And who could blame you? In times like these, emotions can get the best of you and lead you to shut down, or worse, result in you making brash decisions. However, it’s important to remember that the backing of a professional, effective and diligent team is just a phone call away.
Our divorce lawyers in McAllen know just how important it is to uphold your marital property rights. Let our attorneys, Marcus C. Barrera and Edward P. Sanchez, evaluate your situation to determine which plan of action is the best one for you to take. We’ll work to the best of our ability to make sure your needs are prioritized through the entire division of property process. If you have any questions about our services, or if you require more information, don’t hesitate to give us a call today.