Collin County Property Division Lawyer
Divorce Representation For Clients In McKinney, Plano, Frisco And Surrounding Areas Since 1987
In a divorce, all marital property and debts must be divided between the spouses. However, determining what is and is not marital property can quickly become complicated without the help of an experienced lawyer.
McKinney property division attorney Diana L. Porter helps men and women in Collin County, Texas, and the surrounding areas navigate the complexities of a marital property division. Recognizing that no two cases will be the same, she takes a personalized approach to helping you protect your rights and minimize your risks.
Identifying Community Property
Texas is a community property state, and it is the community property owned by the couple that is divided between them in a divorce. An initial step in all divorce cases is determining what property is and is not community property. Under Texas law, all property owned by both spouses at the time the divorce is filed is “presumed” to be community property. This is true regardless of how and when the property was acquired and in whose name it is held.
If you own property that should not be part of the community estate, such as an inheritance, then you have the responsibility to make sure that it is treated separately from the community estate. Diana Porter can assist you in protecting your “separate property” and community property rights in a divorce.
For the average couple, the marital estate typically includes:
- The family home
- Financial accounts, including checking, savings and investment accounts
- Retirement plans such as a pension or 401(k) plan
- Household furniture and contents
- Marital debts, including mortgages, credit card debts and car loans
Your marital estate may be much more complex. You may have stock options, restricted stock, a closely held business or extensive real estate holdings. Whatever the complexity, Diana Porter can help you identify all marital assets and debts, determine the community property and protect your separate property.
Dividing Community Property In Texas
Once identified, the community property must be divided between the parties. Texas does not require a “50/50” split of community property. Instead, Texas requires a “just and right” division, leaving room for negotiation and advocacy. Diana Porter has extensive experience negotiating and resolving disputes related to property division. She works to establish the appropriate allocation of marital assets and debts given your family’s circumstances. Her work includes, where appropriate, establishing or challenging separate property claims.
Protecting Your Best Interests
Identifying and dividing marital property can be stressful and emotionally taxing. Having an experienced advocate by your side can help ensure clear decisions are made and your rights are protected. If you have questions about dividing your assets and debts, contact Diana L. Porter, P.C., office to schedule a consultation.