We Understand The Complexities In Property Division
Property division is almost always an issue in a divorce proceeding. The property owned by the parties may lead to a straightforward division or it may be complicated and require additional resources to evaluate.
Texas is a community property state. That means that property and income acquired during the marriage are presumed to be marital property unless a party can demonstrate that they are separate property. Separate property often includes property owned before marriage, inheritances and gifts. An experienced attorney can help you review your property to determine the nature of important assets.
We Use Experts To Assist In Thorough Evaluations
A thorough understanding of all the parties’ assets is critical to reaching a settlement on asset division. In order to better evaluate all the financial aspects, we often use experts such as forensic accountants and financial neutrals to work through the finer points in contention. Financial experts can assist with determining whether separate property is commingled, calculate income for self-employed individuals, complete business evaluations among other important determinations.
Being Prepared Can Help Keep Your Legal Fees Down
When we begin divorce cases, we often tell our clients that there are ways to keep their legal fees lower. One of the ways to minimize your fees is to organize and prepare certain financial documents for your attorney to review. Some examples of these documents include:
- Tax returns
- W-2s and other income statements
- Bank statements
- Credit card statements
- Property appraisal
- Financial statements
- Monthly budget/expenses
- Documentation on separate property
- Valuable personal property list
- Retirement account/pension statements
There may be other documents that are relevant to your case. Our skilled lawyers at the McNutt Law Firm PLLC can help you determine what you will need to gather for your specific issues.