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Laredo Division of Property Attorney

When you and your spouse decide to divorce, you’ll need to split up the assets and debts that you have acquired as a couple. Many laws already determine who has rights to which assets. A Laredo divorce attorney can help you understand these laws so that it is clear as to which assets you have rights to. When you work with our Laredo division of property lawyers, you can be confident that your assets are addressed correctly. We are committed to helping you move into the next stage of your life from a stable financial state.

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Who has rights to assets?

Divorce is one of the few experiences a person can have that is both an emotional upheaval and a financial upheaval

At its heart, a divorce is a breakup. Breakups are incredibly painful - you had imagined a future with this person that lasted forever, and suddenly that dream is gone

You are losing the person you were closest to, someone that you had spent every day with for years and years, the first person you are used to turning to every time something happens, good or bad. When that ends, it’s incredibly painful.

However, a divorce is also so much more than a breakup. It’s also the untangling of a legal commitment

When you got married, you became a single legal unit. When you end that marriage, you need to turn that unit into two separate units. While that might seem like merely a logistical question, it can be surprisingly emotional. When you made big purchases, such as a home, you imagine that you will spend your life together in that house. Now, you will need help from a Laredo marital property lawyer to decide who keeps the home, and how you will buy the other person out of the mortgage.

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Equal Property Division in LAredo

Couples have the opportunity to decide on their own, through mediation, how they will divide their property. If they are not able to agree, the question goes to the courts. In that case, a judge will determine an equitable division of property.

Laredo law requires marital property attorneys to be envolved in a way that is fair and equitable

That does not necessarily mean that all assets and debts are automatically 50/50. For example, if a couple bought a vacation home during the mortgage, they do not necessarily need to sell it and split the proceeds. Instead, they could choose to have one person keep it and buy the other out of the mortgage.
Many circumstances can change how property is divided
Such as the length of the marriage, if one partner gave up their career to support the other, who has primary custody, unique health needs, and much more.
Texas Law
The state of Texas is a community property state, which means that almost everything acquired during the marriage is considered to belong equally to both spouses
Assets include wages earned by one spouse
If there is an asset that you believe should not be considered community property, such as something inherited from a family member who intended the gift to be for the sole use of one member of the couple, you may need to prove that in court. A divorce lawyer that specializes in Texas law can help you understand your property rights and establish separate property when necessary.
Navigating the division of property can take a long time and feel overwhelming in an already emotional process

However, it’s vital for making sure both spouses can move forward on equal footing and transition smoothly to their new post-divorce life. If you are facing a divorce in the Laredo, Texas area, call us today to see how we can help you understand your rights to assets.

Community Property

Anything that you purchased during your marriage counts as community property, and you will need to split it as part of your divorce

Houses, cars, vacation homes - they all need to be divided in a way that both parties can feel ok about moving forward

Community property also often includes retirement accounts, even if they were only paid into by one party. It also consists of any debts incurred during a marriage, such as a mortgage or credit card debt. It may even include a business started by one partner.

Non-community property is anything that did not belong to both spouses jointly

This could be property owned before the marriage or inheritance that was left to only one spouse. Separate property can become community property if it is mixed with community property during the marriage. If this is your situation, you will need a knowledgeable lawyer to help you understand which of your assets are considered community vs. non-community property. Our Laredo property division attorneys can help you with this – just give us a call to understand your options.