Understanding Property Division And Preserving Assets

In the state of Texas, assets are identified as community property, separate property or mixed.

Community property is essentially property that both parties earn and grow together during marriage and will be divided upon the divorce. Separate property is property owned by one spouse, such as a gift received prior to the marriage, property (whether real or personal) inherited, and will remain property of the original recipient if the owner can show strict proof it belongs to them.

However, both types of properties are often commingled throughout the marriage. Deciphering which is which for allocation purposes can be difficult. Maybe a substantial family inheritance was used to pay down the mortgage on the family residence. And the more assets involved, the more complex the process often becomes.

For Houston attorney Martha Bourne, this scenario is all too familiar.

Tackling Tough Financial Decisions And Preserving Your Assets During Divorce

For many years, she has represented individuals in Texas with complex divorce matters involving many types of similar situations. She understands the financial decisions divorcing parties with significant assets must tackle when they separate. She also understands the dire need to preserve the ones that have taken years to achieve or build up over the years.

In some situations, claims for reimbursement can balance property division but it takes the assistance of a lawyer who understands such intricate matters.

If you have questions about preserving assets or how distribution works under Texas law, contact Martha Bourne at 713-581-8260. She can offer expert advice as it pertains to your circumstance. She has handled a variety of situations involving real estate, inheritances and executive compensation plans among others.

Her office is located near the Galleria in the Tanglewood area.