As many Texas residents have discovered, ending a marriage is emotionally draining, even if a couple has decided to approach the process peacefully. A divorce is more likely to involve high levels of actual conflict, however, when substantial properties are involved.
For instance, a spouse who can afford expensive legal help will often try to win more marital wealth than the person actually deserves. Fortunately, an experienced attorney for the other spouse can help keep any battle from dragging out and ensure that the divorce decree covers every asset and thus represents a fair and equitable division of family property.
The attorneys at the Gunnstaks Law Office understand that their clients deserve to protect all earned assets and uncover those that spouses may have hidden. These attorneys work tirelessly to locate all assets through the services of appraisers, forensic accountants and financial-planning experts.
In this way, attorneys can find all stocks and bonds, other financial assets such as domestic and offshore bank accounts and business accounts and hidden vacation homes, boats, planes and vehicles. These attorneys can also uncover fringe benefits that go unreported by spouses.
In Texas, an increase in any asset that occurs during a marriage becomes part of the community estate and must be split equitably between the spouses. This does not include assets such as gifts received by a spouse before marriage or property or assets inherited during marriage — these are generally considered separate properties. The exception is commingling. In these cases, if an asset increases in value through the direct actions of the other spouse or the person’s financial instrument, then it also becomes marital property. If, for instance, inherited money is put into a joint banking account, it becomes marital property. Sometimes, though, an experienced attorney can convince a court that it is separate property.