Aaron & Aaron, Attorneys at Law
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Strategies for property division

Asset division and property distribution may be among the most challenging aspects of a divorce in Texas. The specific property that is eligible for division, the value of that property and the best way of splitting it fairly are all major considerations for many divorcing couples. These considerations are especially vital for those going through a high-asset divorce.

The value of the couple's property may determine what path the divorce will take through the courts. It is common for divorcing couples of little to moderate wealth to have to negotiate for possessions such as household valuables, retirement accounts and lifetime savings. A more affluent couple going through a divorce is more likely to simply settle out of court in order to avoid a traumatic process.

Wealthier individuals may have clearer provenance over their possessions, allowing them to more easily divide property into marital and non-marital categories. They may also wish to avoid the publicity and exposure that could come with divorce court. The liquidation of property such as artwork or other valuable items may be sufficient to complete the asset division. This is especially true in the case of shorter marriages in which marital property has not had time to accrue.

The emotional and economic distress associated with a divorce may be so severe that it might impair reasonable decision making between the parties involved. It can be very helpful to consult with a lawyer and make sure that all the options within the divorce and property allocation are being fairly considered. The lawyer might be able to help a client achieve a favorable settlement.

Source: Market Watch, "What unhappy couples can learn from Johnny Depp's divorce," Quentin Fottrell, June 12, 2016

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