One of the most complicated issues when getting a divorce is making a determining property division. Sometimes, it simply isn’t worth the fight. To help you learn which property you should try to keep and which you should let go, here are some tips on disputing property in divorce.
A Judge Will Make a Determination if You Can’t or Won’t
One very important thing to consider first is that if you and your divorcing spouse can’t agree on how to split up your things then the judge overseeing your case will make the determination for you. As such, it is almost always to your advantage to settle property division arguments out of court. Otherwise, you may not have a say in who gets what.
There is no leeway because Texas is a community property state. Under the law, all property that you acquired during your marriage belongs jointly to both you and your spouse, regardless of who bought it.
Make a List, and Be Willing to Compromise
To start, make a list of all community property assets that you own. Put an asterisk next to those that are particularly valuable to you. Then, be willing to compromise.
Usually, the most valuable assets in a divorce include the following listed below.
- A home or land
- Expensive vehicles
- Retirement and savings accounts
- Unique and valuable items, like art
- Businesses or business investments
- Other investment accounts
If custody of the pet is the most important asset to you, be prepared to give up something else in return. Remember, asset division during a divorce must be equitable, but does not have to be equal. A financial advisor can help you determine which assets might be most valuable, and which ones you should fight for the most. You should also hire an appraiser who can determine the value of your real estate and art collection.
For smaller assets, you probably don’t need to put up a fight. Unless extremely valuable, fighting over assets can create bad blood, so to speak, and prolong the divorce process.
Make an Appointment with a Divorce Attorney Today
For help in negotiating for assets and understanding what you might be entitled to during a divorce, don’t wait to hire an attorney. Our Texas Divorce Lawyer at the Law Office of Julie Johnson is ready to meet with you today. Call us now at 214-265-7630 to set up your appointment or fill out our convenient online contact form.