One major aspect of divorce is untangling the economic relationship between two spouses who have typically acquired at least some assets and debts together as well as bringing the separate property into the marriage. The details of the property division arrangement may turn out to be crucial to each spouse’s future economic security.
At Connolly & Shireman in Houston, we take this process very seriously, carefully evaluating all of the relevant information and seeking the best possible outcomes for our clients. If you are going through a divorce and are concerned about the division of marital property, contact us to meet with an experienced attorney.
Gathering the Information and Seeking Positive Solutions
The first steps in the property division process are the identification of assets and liabilities, properly characterizing them as either separate or community property and getting an accurate valuation of all marital assets and liabilities. The services of skilled professionals such as forensic accountants, business evaluators, real estate appraisers and private investigators may be helpful at various stages.
If you and your spouse are able to come to an agreement on the outlines of your property settlement, we will then need to determine the best ways to carry out your agreement while protecting your rights.
Complex property relationships will require creative approaches to the division. For many couples, the biggest marital assets are retirement accounts such as 401(k) accounts and family homes, both of which can create unique challenges in the property division process. Our attorneys are skilled at handling these issues and working with outside professionals if necessary.
Addressing the Unique Impact of Economic Turmoil
Property division can be particularly complicated during an economic downturn, because assets like retirement accounts and real property may have dwindled in value to levels that do not reflect their traditional worth, and some assets may recover while others may not.
Our goal is to look out for our clients’ long-term interests, which may require creative solutions when dividing up assets and liabilities whose future values are uncertain. You can rely on us to pay close attention to the potential consequences of various property division solutions. Contact us to discuss your concerns with an experienced Texas divorce lawyer.