Divorce and Property Division
No couple wants their marriage to end in divorce. Undergoing a divorce is a pretty tricky undertaking, especially once the separating couple tackles the issue of property division – a matter that can vary from state to state.
For instance, Arizona, California, Idaho, Louisiana, New Mexico, Washington, Wisconsin, Nevada, Texas, and Alaska are community property states. This setup means the state considers all properties and assets acquired during the years of marriage as joint property. Assets excluded from this provision are those given as gifts or inherited, or separate property owned before the marriage. As for the other 41 states, assets are awarded “fairly” at a judge’s discretion.
To protect one’s assets against either case of property classification, a couple may opt to sign a prenuptial agreement, wherein the wife and the husband lay down rules and terms regarding the division of assets if and when a divorce arises.
If you are experiencing a family legal issue in Fort Worth or another area in Texas, you may want our attorneys at The Maynard Law Firm, PLLC to sort out your case for you. Call our offices today at (817) 335-9600 to learn more about the legal services we offer.