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DIVORCE
CHILD CUSTODY
SPOUSAL & CHILD SUPPORT
PROPERTY DIVISION
Texas Divorce: Protecting Your Rights & Interests
In the state of Texas, property subject to divorce proceedings may be divided by the court by a means that is “just and right.” Although many people assume this to mean a 50/50 division, the court is not required to divide property on an equal basis. Considerations of income, ability to generate income, child custody, and marital fault may be considered by the court.
Having an experienced divorce lawyer familiar with Texas divorce laws and the procedures of local courts is important in any divorce. In cases involving complex property division issues, it is even more critical. At Carter Morris, LLP, we have extensive experience in divorce cases involving large marital estates and complex property division issues. If you need to speak with an attorney about divorce or another family law matter, we encourage you to contact us.
We are experienced in these and other property division issues:
Business valuations and business divisions
Division of vested and unvested retirement funds
Investment assets: stocks, bonds, mutual funds
Separate property vs. community property disputes
Division of marital assets in a high net worth divorce
Complex tracing issues
Hidden assets
Alimony packages in marital dissolution agreements
We work closely with clients to determine the issues that matter most to them. Once we have a full understanding of our client’s short-term and long-term financial future, we devise a comprehensive plan of attack to seek the most effective management of their case. Through a firm and assertive approach to negotiations, we have been able to achieve quality results for many of our clients while avoiding the cost and anxiety of divorce litigation. In cases that do require trial, our attorneys are always fully prepared to argue effectively on behalf of the people we serve.
Contact Us
To speak with an attorney about an important legal matter, call Carter Morris, LLP at 713-626-3345, or contact us online.
In Texas, any real estate that is purchased during marriage is presumptively considered community property and is presumptively included in the community estate at the time of a divorce. Generally, couples do not wish to jointly own real estate after a divorce. Frequently, one party will be awarded one hundred percent of the parties’ interest in that real property, and the other spouse will be awarded other assets to “buy out” his or her interest in the property. Alternatively, the parties can agree to sell the property and divide the proceeds.
Properly valuating and characterizing real estate is crucial when drafting a property division settlement. Whether you are dealing with your primary residence, a vacation home or a business, a skilled Houston real estate division attorney can help you ensure your assets are properly valued and your financial security is protected.
At Carter Morris, LLP, our lawyers have years of experience helping clients throughout Texas valuate and divide real estate during divorce. We bring a wealth of knowledge to each case. To discuss your rights and options, call us at 713-626-3345.
Southeast Texas Divorce Asset Division Attorneys
Carter Morris, LLP understands that real estate is often one of your biggest investments. Working with forensic accountants and other financial experts, we will help you characterize and valuate any type of real estate, including:
Primary residence
Vacation homes
Businesses
Investment properties
Rental property
Oil and gas interests
Mineral interests
Contact Us
Do you have questions or concerns about division of real estate in your divorce? Call Carter Morris, LLP at 713-626-3345. You may also contact us online.
Houston Divorce Lawyers and Inherited Assets
During a divorce, community property will be divided by the courts by a means that is “just and right.” Inheritances and trusts that were established before the marriage are generally considered separate property; however, the party asserting a separate property claim bears the burden of proving what is his separate property, and if these assets have been commingled with property acquired during marriage, meeting that burden can be a difficult and complicated task.
Having an attorney on your side who understands characterization of trusts and inheritances is crucial for arriving at a fair and just property settlement. At Carter Morris, LLP, we have extensive experience handling complex property division issues that arise in high asset divorce cases. From our office in Houston, we protect the rights of clients throughout the state of Texas.
Do you have questions about dividing inheritances and trusts in a divorce? Call us at 713-626-3345.
Southeast Texas Attorneys With Experience in Trust Division
If you have received an inheritance or trust before or during marriage, it could have a significant impact on your marital estate at the time of divorce. You will need to show clear and convincing evidence that the trust or inheritance should maintain its characterization as separate property.
Working with a team of forensic accountants and other expert witnesses, we can work with you to trace these assets to determine their characterization. Our Houston inherited assets attorneys have years of experience analyzing and establishing separate property claims. We will work hard to ensure that you receive a fair division of property while preserving your separate estate.
We also assist individuals in protecting their trust or inheritance with a prenuptial or postnuptial agreement. These agreements can help ensure that your separate property remains separate and is protected from division in the event of a divorce.
Contact Us
If a trust or inheritance is an issue in your divorce, you should speak with a skilled family law lawyer. Call Carter Morris, LLP at 713-626-3345 or contact us online.
One issue that arises with some frequency in high-net-worth divorce cases is the division of a closely-held business. In most cases, the parties to a divorce will agree that one party will be awarded 100 percent of the business, with the right to own, operate, and receive funds from the business. The other spouse will, therefore, receive an appropriate amount of other marital property to ensure a just and right division of marital property.
In less frequent cases, the parties may agree that each will retain a percentage of the business, with one or both parties continuing to operate the business after the divorce. Another option is the sale of a business, with each party receiving a portion of the proceeds.
To determine the best course of action, and to protect your property rights in a divorce, it is critical to retain an attorney with experience determining the value of a closely-held business and dividing it properly. At Carter Morris, LLP, our knowledgeable divorce attorneys have extensive experience with the complex process of determining business ownership and valuation. Located in Houston, Texas, our firm is pleased to represent clients throughout Southeast Texas and the Greater Houston Area.
Southeast Texas Attorneys Familiar with Business Ownership and Valuation
Correctly determining the value of a closely-held business or professional practice is critical to achieving a fair divorce settlement for both parties. At Carter Morris, LLP, we work closely with expert forensic accountants and other business valuation professionals to accurately determine the value of the business.
Another important consideration in business ownership during divorce is whether the business is community or separate property. A business that was started during marriage is presumptively considered community property in Texas and thus must be included in the value of the overall community estate during a divorce. However, even a business that was started before marriage or with separate funds may be subject to claims during divorce if community property was used to fund or expand the business. Conversely, a business started during marriage could be characterized as separate property, depending on the circumstances surrounding its formation and capitalization. We will assist you with the complex process of determining whether your business is characterized as community property, separate property, or a mixture of the two.
Other important issues that we consider when dividing a business include:
Lookbacks
Valuation methodology
Overcompensation
Inadequate compensation
Personal vs. professional goodwill
Community property vs. separate property issues
Management and transfer of assets during the divorce process
Short-term and long-term implications of the asset allocation
Contact Us
To speak with a lawyer at our office in Houston, Texas, call 713-626-3345, or contact us online.
Retirement accounts such as IRAs, pensions and 401(k)s are often a person’s most valuable assets. In some cases, a pension can be worth more than the family home! Due to their high value, dividing these retirement assets is often one of the biggest sources of contention in a divorce. In divorce cases involving complex property division – including dividing retirement assets – you need to have an experienced attorney on your side.
At Carter Morris, LLP, we have extensive experience handling the most complex financial issues that arise during divorce and high-net-worth divorce. We help parties find creative solutions to dividing retirement assets, including:
Individual Retirement Accounts (IRAs)
Pensions
401(k)s
403(b)s
Employee stock purchase plans
Deferred compensation plans
From our Houston office, we represent clients throughout the state of Texas. Our firm’s lawyers practice family law exclusively, and our partners are board-certified in family law by the Texas Board of Legal Specialization. If you have questions about dividing retirement assets during your divorce, call us at 713-626-3345.
Dividing Retirement Assets: Which Accounts are Subject to Division?
In Texas, any property that was acquired during the marriage – including retirement accounts – is presumptively considered community property and thus can be subject to division during a divorce. Our experienced family law attorneys will assist you in identifying, valuing, and dividing retirement assetsacquired during your marriage. We frequently work with financial experts such as forensic accountants to aid us in valuing and dividing these assets properly.
Our attorneys will handle any necessary paperwork, including Qualified Domestic Relations Orders (QDROs), to ensure the smooth division of your retirement funds. We will answer any questions and address any concerns you may have about the community property division process.
As experienced negotiators, we have been successful helping our clients achieve their goals without the cost and stress of divorce litigation. However, if your case requires a trial, you can rest assured that our attorneys are fully prepared to represent your interests in the courtroom.
Contact Us
At Carter Morris, LLP, we will take the time to understand your financial goals and create a plan to help you meet them. To speak with one of our experienced attorneys, contact us online or call the firm at 713-626-3345.
Texas Separate Property Claims
Texas is a community property state. When dividing marital assets in a divorce, a judge will issue an order that divides all property of the parties in a manner that he or she determines to be just and fair. To assist in the determination of what is just and fair, the court will classify property as either community property or separate property.
As a general rule, most property acquired during marriage is community property. However, there are exceptions. Separate property is statutorily defined to include property acquired before marriage, property gifted to one spouse and property inherited by one spouse. Other considerations may come into play depending on the facts of an individual case.
Experienced divorce and family law attorneys conduct an in-depth interview with each new client to determine information relevant to the effective management of a client’s case. Among the questions attorneys ask are those designed to delineate separate property from community property.
When handling a divorce involving potential separate property issues, an attorney must be able to work with the client in identifying potential separate property claims, reimbursement claims, and economic contribution claims. Once potential claims are identified, it is essential for the attorney to be experienced in identifying the evidence necessary to prove up those claims, and in working with forensic accountants in preparing expert testimony to prove those claims. The attorneys at Carter Morris, LLP have extensive experience in preparing and trying cases involving separate property claims, and are well-versed in the best ways to establish, or attack, such claims.
If you are getting a divorce, retaining an experienced divorce lawyer is the first step to protecting your financial rights. If you are getting a divorce in Texas and need quality legal representation, the experienced attorneys at Carter Morris, LLP can help. Our attorneys have successfully represented clients across the state of Texas in divorce and family law cases, with an emphasis on high net worth divorce and complex division of property issues.
Contact Us
Carter Morris, LLP is located in Houston, Texas. To speak with a lawyer at our office about divorce, separate property claims, division of assets, or another important family law matter, call 713-626-3345. For assistance by e-mail, contact us online.
