Skilled Attorney Manages the Division of Marital Assets in The Woodlands Area and Surrounding Counties
Financial insight guides our meticulous process in high net worth divorce
Property division is an aspect of divorce litigation at which Whisenant & Associates truly excels. Managing partner J. Thad Whisenant has an undergraduate degree in finance and applies that knowledge to the in-depth analysis of your marital estate. Parties with substantial marital estates can have confidence in our ability to manage the minute details of complex financial instruments, business holdings and real estate. Working closely with you, we create a detailed financial profile and work diligently throughout the discovery process to compel a full disclosure of assets and debt. We seek not only to learn if assets exist, but also how and when they were acquired, so we can make the best case for fair distribution. We have decades of experience helping clients in cases involving:
How community property law operates in Texas divorce
Texas is a community property state, which means that there is a heavy presumption that all assets and debts accumulated during the marriage belong equally to each spouse. The exceptions would be assets that a spouse acquired prior to the marriage or received as a gift or inheritance during the marriage. Controversies arise when either spouse claims that certain assets are separate property or that both spouses should assume liability for the debts that only one of them ran up.
Certain assets by their nature are difficult to value and divide:
On matters such as these, Whisenant & Associates does some of our best work. We draft qualified domestic relations orders (QDROs) for qualified retirement accounts such as 401(k) plans when necessary. We perform the due diligence necessary to ascertain the value of an asset and a fair basis for distribution. With a combination of family law and financial experience, our professionals can clarify seemingly complex issues for you, opposing counsel and the court. We strive to minimize your distress and provide sound legal advice throughout the process with a focus on the financial security issues facing our clients.
How does the court divide commingled property?
Though Chapter 7 of the Texas Family Code requires a "just and right" division of community property in a divorce, it's not always easy to discern what property is community and what is separate. Often, a spouse will commingle separate property to the point where a court may rule that it is community. For example:
- The wife may have inherited a lake house, but the couple used joint funds to put a new roof on the house.
- The husband may have started a business prior to marriage, but the wife worked for the business and received little or no pay.
- One of the spouses may have inherited money, but the money was deposited into a joint account and spent or partially spent on expenses or personal property
In these situations, the court must consider the asset and the improvement, and how the improvement may have reflected the parties' intentions with regard to ownership, as well as the characterization of the remaining money or property.
Let our divorce law firm in The Woodlands aid your marital property division
At Whisenant & Associates, we have the tools and the acumen to assert your rights to a fair division of marital property. Contact Whisenant & Associates at 281.681.8889 or online to schedule a consultation. Se habla espa√Īol.