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Pointers to consider when filing for property division

When you and partner get hitched, you envision spending cherished moments till death do you part. In addition, the upbringing of children adds more meaning to the family, and spouses would strive to keep such a unit together. However, not all marriages experience the happily-ever-after concept. Whether it's irreconcilable differences or infidelity, such marriages ultimately end up in divorce. In the event you are separated, it is basic instinct to collect your personal assets and begin a new independent life.

As a soon-to-be Texas ex-spouse, it is in your best interests to exercise vigilance on your finances as property division beckons. In such a case, you should consider your bank accounts, fixed and current assets and how you obtained various properties before and during the matrimony. As the divorce proceedings take center stage, you must take certain precautions to safeguard your financial interests. Unlike most matrimonial concepts, property division is highly sensitive and can alter with the slightest of laxity on either party.

Assets jointly owned can be reasonably divided into separate belongings for each partner. For instance, proceeds in jointly owned bank accounts are categorically split between the partners equally. Additionally, joint expenses should be managed by both partners including debts. Instigating a simple property division can only be realized in the presence of calm minds and an experienced divorce attorney. As a divorcing spouse, it is advisable to change passwords and property names for joint ventures.

Despite making adequate plans to execute a simple property division, separating spouses are obliged to prepare a child parenting agreement that adequately meets the needs of children. In such a case, necessary requirements such as schooling, insurance, vacations and extracurricular activities need to be discussed in detail. During such negotiations, it might be a good idea to enlist the services of an accredited accountant to oversee an equitable allocation of child support irrespective of the circumstances of the divorce.

While planning to protect your properties, it is advisable to obtain a separate credit card to meet your individual financial needs. Alternatively, it is in your best interests to inquire on hidden assets owned by your ex-spouse. In most situations, spouses are known to hide valuable assets through offshore companies in an attempt to protect them from their devious partners. If in doubt, do not hesitate to consult an experienced Texas divorce attorney to shed light on the matter.

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Attorney Christine K. Lincoln

Christine K. Lincoln offers sound counsel and legal services to protect clients and their families facing divorce and other family disputes.

She will take the time to understand your individual needs and develop a comprehensive solution to protect your rights and interests.

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