Laredo Marital Assets Attorney
Providing Reliable Legal Representation to Residents of Corpus Christi
As the divorce process comes to an end, one of the major unanswered questions concerns your linked finances. In most marriages, the spouses have intertwined their lives and financial situations by buying property , making investments, and opening credit cards together. When you get a divorce, you need to divide all marital assets and debts, so you can both move forward as separate financial entities. This can be a very complex and frustrating process, which is why you need a knowledgeable Laredo large marital asset attorney on your side. Reach out to the experienced attorneys at the Law Offices of Rudy Santos, L.L.C. to help with your Laredo divorce. We provide compassionate services and advocacy and will work tirelessly to protect your best interests.
Get the caring and honest legal representation you need by calling (956) 476-3337.
Types of Marital Assets
It’s important to understand to develop a complete picture of the marital assets so both parties appreciate what’s at stake and can come to an agreement as to which party will be leaving the marriage with certain items or debts.
These items are typically referred to as:
- Separate property: Separate property is anything that can be proven to belong to one spouse. This could include a home purchased before marriage, an inheritance received by one spouse, capital gains on separate investments, or money received for personal injuries. Additionally, separate debt is incurred before the marriage, whether it is a student loan or credit card debt.
- Community property: Everything that cannot be verified as separate property is community or marital property. This often refers to items purchased during the marriage. It doesn't matter who earned the money used to purchase it or whose name is on the title. Community property, according to Texas law, should be divided in a way that is “just and right.” The division need not be a 50/50 split. This also covers financial obligations or debts accumulated during the marriage.
Disentangling large marital assets can sometimes be complicated. You need experienced lawyers who are familiar with Texas law as it relates to the division of property. Our team of Laredo large marital assets attorneys can provide you with the quality representation and legal advice you need.
Qualified Domestic Relations Order (QDRO)
Certain assets, such as retirement accounts, represent a significant source of a couple’s wealth. Generally, retirement accounts and benefits are considered community property, even if they were earned by one of the partners. As such, assets of this nature must be divided in a manner deemed fair by the court. You will need the judge to sign a Qualified Domestic Relations Order (QDRO) to divide the benefits.
If you believe it will be equitable for each party to retain their benefits, you do not need to sign a QRDO. In either case, you should retain the services of a Laredo lawyer to help you obtain a fair property split.
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