Community property is any property that is acquired during the marriage including wages and salaries, income from separate property and increases in the value of business. Separate property is any property owned before the marriage as well as inheritances and gifts acquired during the marriage.
The division of property can be a very complex part of the divorce. Although Texas is a community property state, nuances and exceptions in the law can dramatically affect the characterization of property and thus the final division. Our attorneys will use their knowledge of the law to explain and guide you through the characterization process during the divorce.
Valuing assets is often another area of major dispute in divorce cases. Lisa Hopes and Anita Cutrer have years of experience dealing with retirement accounts, investment accounts, family owned and closely held businesses, and real estate. Valuing assets often requires the outside expertise of accountants, business valuators or forensic accountants. We will guide you to the resources that best meet your needs in determining the value of your assets.
Family matters at Hoppes & Cutrer. Therefore, we take a unique approach to property division that focuses on long term financial planning, cash flow issues, and debt management. We will discuss your specific financial needs and attempt to structure a property division that will best meet your needs. If necessary, we have access to financial planners and CPA’s who can help evaluate or explain the consequences and impact of proposed property divisions.
Texas law provides for a “just and right” division of the marital estate. Various factors are considered in the evaluation of what is “just and right.” These factors and the final property division will vary on a case by case basis. Lisa Hoppes and Anita Cutrer will work diligently to help ensure our clients receive an equitable division of property.
Schedule a Consultation
To discuss your property concerns, please call 817-283-3999 or fill out the contact form on this site.