Every day I hear people talk about dividing everything in half. Somewhere
this concept has been imposed upon the popular conscious as being what
divorce and that can’t be further from the truth.
In the state of Texas, barring an agreement otherwise, all Community Property
shall be divided by the Court in a “just and equitable” manner.
The term means what it says and there lies the beautiful art that a lawyer
can bring to your divorce. Innumerable factors can be brought to bear
on how to make that division of assets.
Even assuming everyone agrees on what is community property and what is
separate property and (more unlikely) everyone agrees to all the values,
the assets comprising the community estate will have various liquidity,
tax treatment, sentimental value, and spouses have different preferences,
risk aversion, and needs.
When people tell me they “know I get half of the 401K,” I usually
respond by asking which half of the couch they want. After the surprised
look goes away and they realize I have a point to make, people understand
that each asset will not be divided necessarily.
Trust legal professionals regularly engaged in
family law rather than what you assume. Strongly held beliefs based on faulty information
(confirmed by far too many strange websites that never seem to actually
be cited but always relied upon as true) inappropriately skew expectations
and cause undue burdens.
Speak with an attorney that understands the process and how family law
operates and you will find a significantly better end result to your family
law matter. If nothing else, you will be working with real facts rather
than battling false beliefs.
If you are facing a divorce and are in need of legal representation, get
in touch with our Rockland County firm today for a