Lubbock Attorney Works to Protect Your Assets in a Divorce

Our Texas law firm is committed to helping you keep your property

In a divorce, the division of spousal property has major financial consequences. Our firm helps clients throughout Texas find solutions to minimize the impact of this process on their property and assets. Robert Reid McInvale, Attorney at Law, has extensive experience guiding Texans through the divorce process from his two offices in the Lubbock area and is ready to help you protect your hard-earned assets through careful planning.

Dividing marital property under Texas law

In a divorce, the couple or a court will need to determine how to divide the marital property. In Texas, a community property state, there are two types of property to consider: marital assets and nonmarital assets. Marital assets include most property received, purchased or earned during the course of the marriage. These assets are typically split evenly between the two parties. Nonmarital assets, such as separate bank accounts, are kept by the individual who owns them. Other nonmarital assets include inheritances and other gifts made to individuals. But nonmarital funds can accidentally be converted into marital property, robbing you of what is rightfully yours. If you are considering divorce, we can help you understand how to best protect these funds.

Protecting your business during a divorce

Small business owners and others with business interests may want to ensure that they can keep their business in a divorce. This can be done before marriage with a prenuptial agreement or during the marriage with a postnuptial agreement. In many cases, it is also possible to enter into an agreement with your spouse at the time of divorce, allowing you to keep your business in exchange for other assets or funds. Our firm also advises entrepreneurs on methods of protecting their business through instruments such as shareholder buy-sell agreements.

Other steps for protecting your assets during a divorce

Our firm works with clients to find solutions that help them keep the specific property and assets that matter to them. We can achieve that through a variety of methods:

• Creating trusts. Putting property into certain types of trusts can keep it out of the divorce process.
• Keeping funds separate. It is essential that you do not comingle separate and marital property if you want to preserve your rights to the separate property.
• Negotiation. The majority of Texas divorce cases are resolved through settlement. We fight to help you keep your property and avoid leaving the decision up to a judge.

Additionally, we seek to prove that your separate property is, in fact, treated as separate property by a family court judge through the use of clear and convincing evidence.

Contact a Texas attorney for assistance protecting your assets during marriage dissolution

If you are considering a divorce, or going through the divorce process, trust Robert Reid McInvale, Attorney at Law, to help you protect your assets and your business. We invite you to meet with us at  our location in Lubbock. To schedule a consultation, call us now at 833-884-3087 or use our online contact form.