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Property Division Lawyer Serving Galveston County

Nobody thinks about the day that their marriage will end. When that day comes, people are often overwhelmed with the important decisions that are in front of them. This is where our team of attorneys can help.
 
When it comes to property division, Texas uses the “fair and just” standard. This means that the court will split your community assets and debts in a manner they deem equitable. It’s important to understand that this may not be 50/50.

Property Division Requires an Experienced Lawyer

Property division disputes can be settled through negotiation, mediation, or litigation in court. The objective is to achieve a fair distribution of property that considers the contributions and requirements of both individuals.

At Goldsberry Portz Divorce & Family Lawyers, PLLC, we bring experience and compassion to each case. Our firm has worked with more than a thousand families throughout Texas. This knowledge becomes crucial when helping a new client find a solution to their specific issues.

We are professional, thorough, and communicative. Our team can answer all your questions and will address any concerns that come up along the way.

We will work to protect your interests and develop the most compelling argument to protect your assets and ensure that the property settlement is truly “fair and just.” From who gets the family home to determining the value of a business, we provide experienced representation.

Sometimes making the determination between what is considered community or separate property can be less than clear, but our attorneys are skilled at analyzing financial documents and clarifying these matters.

High-Asset Divorces Can Make Property Division Even More Complex

Business owners and working professionals face even bigger difficulties. High-asset divorces can be complex to identify what part of a company belongs to you versus your spouse. In these situations, it is especially important to have a trusted advocate by your side. Our attorneys know how to fight for what you are entitled to. This includes real estate, personal belongings, financial accounts, retirement plans, pensions, and other work benefits.

Definition of Community Property and Separate Property in Texas

Property division in Texas during a divorce is regulated by the Texas Family Code. Sometimes making the determination between what is considered community or separate property can be less than clear, but our attorneys are skilled at analyzing financial documents and clarifying these matters.

Community Property

Property division in Texas during a divorce is regulated by the Texas Family Code. In Texas, most property acquired by either spouse during the marriage is considered community property and should be divided according to the state’s community property laws.

Community property includes:

  • income generated by either spouse’s work during the marriage
  • assets purchased with that income
  • liabilities (debt) accrued during the marriage

Separate Property

Property owned by each spouse before the marriage are generally classified as separate property and are not eligible for division.

Separate property includes:

  • assets owned by one spouse before the marriage
  • inheritance received by one spouse during the marriage
  • gifts given to one spouse during the marriage
  • specific personal injury compensations
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How is Debt Distributed During a Divorce in Texas?

Debts are distributed in the same manner as assets during a Texas divorce. Debts accumulated by either partner during the marriage are viewed as communal responsibilities and are usually distributed fairly between the partners. This encompasses credit card debt, mortgages, and car loans. Preexisting debts, or debts acquired before the marriage, are the responsibility of the spouse who incurred them.

What are the Tax Implications of Property Division During Divorce?

Debts are distributed in the same manner as assets during a Texas divorce. Debts accumulated by either partner during the marriage are viewed as communal responsibilities and are usually distributed fairly between the partners. This encompasses credit card debt, mortgages, and car loans. Preexisting debts, or debts acquired before the marriage, are the responsibility of the spouse who incurred them.

Capital Gains

Selling properties and assets during property division could result in capital gains tax consequences. This is an important item that your lawyer and tax advisor should communicate about during negotiations.

Transfer of Property

Transferring specific assets between spouses during a divorce settlement could result in tax implications. It is crucial to organize the distribution of assets in a tax-efficient way.

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How are Retirement Benefits Divided During Divorce?

Retirement benefits accumulated by either spouse during the marriage are classified as community property and are eligible for division in the event of a divorce. This includes:

  • pensions
  • 401(k)s
  • IRAs
  • and other retirement accounts.

 

A Qualified Domestic Relations Order (QDRO) might be necessary to distribute these benefits, guaranteeing that each spouse obtains their equitable portion without facing penalties or avoidable taxes.

What is the Process for Dividing Property During a Divorce in Texas?

Identification: It is necessary to categorize all assets and debts as either community or separate property.

Valuation: Assets and liabilities need to be appraised. This may include evaluations for real estate, business appraisals, and assessments of retirement funds.

Division: The court will distribute the community property based on factors like each spouse's earning capacity, fault in the marriage dissolution, and the physical health and financial requirements of each party, aiming for fairness and justice.

What are the Factors the Court Uses to Decide Property Division?

As mentioned above, fair and just division of property may not be 50/50. The court takes numerous things into consideration when deciding fair distribution of property, including the following:

  • Each party’s capacities and abilities
  • What the non-guilty spouse would have gained had the marriage stayed together
  • Prospects for Economic Growth
  • Health and fitness levels of the spouses
  • The economic health of the two parties
  • The age difference between the parties
  • The total value of the parties’ individual estates
  • What kind of property we’re talking about
  • The difference in the parties’ respective incomes and earning abilities
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To Schedule a Consultation with a Lawyer, Call Today

For many people, the unknowns are the most frustrating part of the legal process. Known for being tough yet empathetic, our firm is here to bring you solutions. Our founding attorney, Shari Goldsberry, is Board Certified in Family Law by the Texas Board of Legal Specialization.
 
To schedule a consultation, call our office in Texas City at 281-485-3500 today. You can also fill out our contact form. We serve clients in Brazoria, Galveston and Fort Bend counties and throughout the Houston area.

How it Works

The process for hiring Goldsberry Portz Divorce & Family Lawyers, PLLC begins with an in-depth consultation to discuss your specific legal needs and circumstances. During this consultation, our experienced attorneys will listen to your concerns, gather relevant information about your case, and provide you with tailored advice on how we can assist you.

Following the consultation and once you’ve decided to move forward with our firm, the next step is signing the contract. The contract will outline the terms of our representation, including the scope of services, legal fees, and any other relevant agreements. Our team will ensure that you fully understand the terms of the contract before signing and will be available to address any questions or concerns you may have.

Once the contract is signed, the final step in the hiring process is remitting payment of the retainer fee. The retainer fee is an upfront payment that secures our legal services and allows us to begin working on your case. This fee is typically based on the complexity of your case and the anticipated work involved.

Once these steps are completed, our team will officially begin representing you and advocating for your interests. Throughout the process, we are committed to providing you with personalized attention, effective communication, and zealous representation to help you achieve the best possible outcome in your family law matter.

During your initial consultation appointment with our family law firm, you can expect a comprehensive and personalized approach to understanding your situation and legal needs. We’ll start by discussing the details of your case, including your specific circumstances regarding divorce, child custody, child support, enforcement issues, or adoption.
 
We’ll provide you with an overview of the legal process relevant to your case, outlining the steps involved, potential challenges, and options available to you. This will give you a clear understanding of what to expect as we navigate through your legal matter together.
 
Additionally, we’ll discuss the anticipated timeline for your case, including key milestones and potential factors that could affect the duration of the process. Understanding the timeline can help manage expectations and provide you with a sense of control throughout the proceedings.
 
During the consultation, we encourage you to ask any questions you may have about your case or the legal process. We’re here to address your concerns and provide guidance every step of the way.
 
Overall, our goal during the initial consultation is to provide you with a thorough understanding of your legal options, the process ahead, and how we can assist you in achieving your desired outcome.

At Goldsberry Law, we prioritize timely and personalized attention to each client’s case. We understand that time is of the essence when dealing with legal matters. Typically, we aim to schedule in-depth consultations within one to two weeks of your initial contact with our law firm.
 
However, if your case requires urgent attention due to imminent hearings or time-sensitive issues, our attorneys will make every effort to accommodate your needs. We recognize the importance of addressing urgent matters promptly, and we will do our best to schedule an appointment before any upcoming hearings or deadlines.
 
In the rare instance that we are unable to schedule a consultation within your desired timeframe, we will refer you to a trusted attorney who may be able to see you sooner. Our priority is to ensure that you receive the legal assistance you need as quickly as possible, while also providing the highest level of service tailored to your specific case.

To schedule an appointment for an in-depth consultation with one of our attorneys at Goldsberry Law, you have a couple of convenient options. You can contact our law firm directly at 281-485-3500 and speak with one of our Client Relations Specialists. They will assist you in finding a suitable time for your consultation.
 
Alternatively, you can schedule a conference call with our Client Relations Manager by visiting our online scheduling page at https://goldsberrylaw.as.me/schedule.php. This allows you to select a time that works best for you without having to make a phone call.
 
Whichever method you choose, we are dedicated to making the appointment scheduling process as easy and efficient as possible, ensuring that you receive the legal assistance you need in a timely manner.

At Goldsberry Law, we prioritize transparency regarding our rates. Our in-depth consultation fee is $75.00 for telephone or Zoom appointments and $250.00 for in-person consultations.
 
For ongoing legal representation, we provide tailored financial arrangements based on various factors such as the attorney chosen and the complexity of your legal matters.
 
Similarly, our attorneys’ rates vary, reflecting their respective experience and qualifications.
 
We understand the significance of financial considerations, and during your consultation, we’ll discuss payment options and work together to develop a suitable strategy.
 
Additionally, we offer convenient payment methods including Visa, MasterCard, American Express, Discover, and eChecks, ensuring accessibility and ease of payment for our clients. If you have any questions or require assistance with payment arrangements, please reach out to us. We’re dedicated to ensuring a seamless and efficient experience with our firm.

At Goldsberry Law, we understand the importance of having a strong attorney-client relationship. During your initial call with one of our Client Relations Specialists, you will have the opportunity to discuss your preferences regarding legal representation. If you have a specific attorney in mind or if there are certain qualities you’re looking for in an attorney, we will do our best to accommodate your preferences.
 
If you do not have a particular attorney in mind, our Client Relations Specialists will gather information about the overall issues presented in your circumstances. Based on this information and your preferences, they will provide a recommendation for an attorney who is best suited to handle your case.
 
We believe in the importance of matching clients with attorneys who have the relevant skills and experience to effectively address their legal needs. Rest assured that whether you choose your own attorney or rely on our recommendation, we are committed to providing you with high-quality legal representation tailored to your specific case.