If you and your spouse are seeking a divorce in Texas, you may have begun to recognize that the process is often more complicated than it initially sounds. Reaching beneficial agreements with your former spouse requires time, effort and patience. Depending on the length of your marriage and the conditions surrounding your divorce, one of the things you will need to work out is the division of property the two of you may share. This aspect of divorce can be complicated, but you may be able to avoid costly problems with a basic knowledge of some of the issues you will need to work out.
According to Live About, some of the issues you may encounter along the way include the following:
- Assigning values: Each of the items awaiting the process of division will need to be assigned a monetary value.
- Asset identification: During the legal process, all pieces of property will need to be identified as either something that is marital or non-marital.
- Co-owned items: Chances are you and your ex have items that you share or own together. These items will need to be determined and fairly separated.
When it comes time to create an agreement about how property will be divided, it will take time to guarantee that it is legally correct according to state laws. It will also require negotiation to determine that you and your former spouse are both able to enjoy some measure of satisfaction.
This article is intended for educational purposes only and should not be taken as legal advice.