Three Common Topics in Texas Divorce Proceedings

 Posted on March 13, 2024 in Divorce

While many people have been exposed to divorce through movies or TV shows, those who have been through divorce would likely agree that what you see on screen is not a reliable depiction of reality. And if you have never been divorced, chances are you are not familiar with all the aspects involved. It is a good idea to gain an understanding of the various parts of a divorce process before you begin one yourself since this can help you better advocate for a settlement you can be comfortable with. If you are considering divorce but unfamiliar with what the divorce process entails, a compassionate Dallas, TX divorce attorney can explain what is involved and help formulate a plan to advocate for what you want and need.

Division of Assets

Many people are concerned about how much value they will lose in a potential asset division during their divorce. To avoid this, some people try to offer faulty information about their finances, hide assets in offshore accounts or transfer them to other hidden accounts, and undervalue any business they may own. This is not legal and if it can be proven that you have done this, there can be serious legal consequences.

The best way to proceed is to be open and honest about your marital estate. If you, your spouse, and your lawyers have a clear understanding of what needs to be divided, you can work towards a fair division of assets that should not disadvantage either of you.

Community Property

The state of Texas follows the community property method. What that means is that when a couple gets divorced, their marital property is divided equally. Some things are considered individual property, particularly if they were purchased by one spouse before the marriage. A knowledgeable legal advisor can review all the property and help you understand which are considered marital property subject to division and which are not.

Alimony

Another aspect of divorce that makes people feel nervous before they have their finalized divorce settlements is the issue of spousal support or alimony. This will generally be decided by the court, based on how long the couple was married, each spouse’s income and earning potential, and several other factors. Alimony payments are intended to help divorced spouses, particularly lower-earning spouses, maintain something close to the standard of living they enjoyed during the marriage once it is over.

Speak with a Dallas, TX Divorce Attorney

If you are heading toward divorce, a knowledgeable Fort Worth, TX divorce lawyer can explain what is involved in the process. At Clark Law Group, we work to get our clients the future they deserve. Call us at 469-906-2266 so we can get started.