Property Division

Collin County Property Division Attorney

Divorce Lawyer for Dividing Marital Assets in Plano, TX

Marriage is not just a legal bond between two people. It also means that from that point forward, much of your and your spouse’s property and assets will be tied together. When a Texas marriage ends in divorce, one of the most important issues to resolve is the division of the couple's community property. If you are going through a divorce, you can better protect your financial interests by making sure you understand how property is divided in Texas.

Working with an experienced attorney can help you protect your interests. At the Law Office of Brian Bagley, we have served Texas divorce and family law clients for more than 10 years. We understand what is at stake when dividing marital property and the complications that can be involved.

We take a personal approach to your case, making sure that we understand your unique needs and a full spectrum of the situation so that we can help you work toward the best possible divorce resolution.

Connect with the Law Office of Brian Bagley to book a confidential consultation with our Plano property asset division lawyer at (972) 843-7158.

Separate & Community Property in Texas

As you prepare for your divorce, one of the most important things to understand is the difference between separate and community property. Which of your assets belong to the marital estate, and which are your own, referred to as “separate” property?

You will be able to keep any property that you can prove is separate; this means you will not have to give up a portion of that property to your spouse.

According to Texas law, all of the following are considered a spouse's separate property:

Any property that the spouse owned before the marriage
Any property that the spouse received during the marriage as a gift or inheritance, whether through a will, trust, or intestate succession
Any assets that the spouse received during the marriage as compensation for a personal injury, except for compensation for lost earning capacity

Everything else acquired by you or your spouse during the marriage will likely be considered community property. This means that both of you have an equal interest in it, regardless of who acquired it or which of your names is on the title.

Community property commonly includes things like the following:

Your home
Other real estate holdings
Furnishings
Vehicles
Bank and investment accounts
Retirement accounts
Businesses founded or acquired by either spouse during the marriage
Boats
Expensive jewelry, art, or collectibles

In some cases, additional factors can influence each spouse's interest in certain properties. For example, a prenuptial or postnuptial agreement can define some assets as community or separate property, even if they do not meet the above criteria.

In addition to assets, debts accrued during the marriage are also subject to division. These include such debts as those from credit cards, mortgages, loans, and more. This applies unless the issue of debt has been pre-arranged in a prenuptial or postnuptial agreement.

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How is Community Property Divided in Texas?

Given that both spouses have an equal interest in community property, Texas family courts will generally prefer a divorce resolution that divides this property between spouses in a roughly equal manner. However, this does not necessarily mean that the value of the marital estate will be divided exactly in half. Instead, the court will require a division that is "just and right" under the circumstances.

Often, the court will allow spouses to negotiate a fair property division agreement on their own. This may be an option in uncontested divorces or where a resolution is sought through mediation. When you negotiate an agreement, you and your spouse have greater control over the details, and you may be more likely to keep important properties intact and in your possession. If the court finds that your agreement is just, it will be approved and become legally binding.

If you cannot reach an agreement on your own, the court will decide what is right and just based on a variety of factors.

For example, the court may consider your health, income, and earning power, as well as that of your spouse. Other considerations include the needs of any children that you and your spouse share, the tax implications of dividing certain assets, and either spouse's marital fault or fraud related to community property. In addition to fairly dividing community property, the court may order that a spouse will be reimbursed for contributions made to the other spouse's separate property.

Put a Proven Professional on Your Side

The division of marital property and debt can be a complicated matter, especially in high-asset divorce. However, any divorce can become complex and contentious on this matter.

Attorney Brian Bagley has handled all types of property divisions for couples across the economic spectrum and is ready to apply his abundant experience and skills to your case. His mission is to help you reach a fair and equitable outcome that puts you in the strongest financial position possible.

We serve clients in Plano, Frisco, Allen, Collin County, Dallas County, Denton County, and Rockwall County.

Call the Law Office of Brian Bagley at (972) 843-7158 for the help you need today.

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Hear From Our Clients in Their Own Words

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The most personable attorney you will find. Brian and Kristen will make you feel like you and your case matter.

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"If I could give them 10 stars I would, HANDS DOWN!! He came in, took over my case from a previous lawyer, did EXACTLY what he said he would do & got my case closed!!"

If I could give this young man 10 stars I would HANDS DOWN!! He came in, took over my case from a previous lawyer, did ...

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Brian Bagley and Kristin Tinker were outstanding to work with from day one! Very professional, very attentive, and really ...

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This office is a top-notch law firm. My issues were handled efficiently and skillfully to my satisfaction. Kristen and Gwen ...

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I had a great experience with Brian and his staff, especially Kristen. They were professional, responsive and sensitive to my ...

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This team is the absolute best! Professional, speedy and gets the job done. Kristen is quick to respond and get what you need ...

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