Denton Property Division Attorney

Denton County Property Division Lawyer for Retirement Savings and Other Marital Property

Going through a divorce is rarely an easy process. Even when the proceedings are largely amicable, dividing up marital property evenly can get complicated. For couples who own complex assets like stock portfolios and retirement savings accounts, property division is likely to be one of the most challenging issues from a legal perspective. Because Texas is a community property state, marital assets are to be divided 50/50. Much of the difficulty can be determining what is or is not marital property.

Magaña & Van Dyke is here to make sure you get to keep everything that is rightfully yours. Whether you were the primary breadwinner or a homemaker, you are entitled to fully half of the marital property. We carefully assess each case to determine whether any other issues, such as dissipation of marital property, should be brought to the court's attention so that you are not in any way going to be left without what is properly yours. Whether your divorce is amicable or highly contentious, we can offer you skilled representation of the highest quality.

Dividing Retirement Savings Accounts in Denton County

Every marriage in Texas is presumed to be an equal partnership, regardless of each spouse's financial earnings. The work each spouse performed in or out of the home is considered truly equal. People going through a divorce are often worried about how retirement savings accounts like 401(k)s will be divided. The answer is complicated.

First, to be clear - any contributions made to a 401(k) during the marriage are marital property, and the funds in an account are to be divided evenly. However, directly paying a spouse funds out of a 401(k) is not always the right answer. It may be better for both parties if the funds owed to one spouse are substituted for a different marital asset of equal value in the divorce decree. For example, if you are owed $10,000 out of your spouse's 401(k), it may be preferable if you are instead awarded $10,000 out of a shared bank account to avoid the complications and potential fees associated with dividing the 401(k) directly.

However, if splitting the 401(k) is the right answer, a Qualified Domestic Relations Order (QDRO) will be necessary to divide the account. Whichever solution is right for you, that is what our attorneys will fight for. We are here to protect your interests.

Cooke County Lawyers for Dividing Marital Assets

The first step in dividing marital property during a divorce is to determine what is or is not a marital asset. Separate property that is not subject to division includes anything one spouse acquired before the marriage in addition to gifts made only to one spouse, personal injury lawsuit winnings, and inheritances. Everything else belongs equally to both spouses.

Texas courts are to divide marital property in a "just and right" fashion. This is where Magaña & Van Dyke can truly step in and advocate for you. There are multiple factors the court can consider, including the spouses':

• Fault for the divorce, including domestic violence
• Future employment prospects
• Health
• Disparity in earning potential
• Custody of minor children
• Education

Neither spouse is to be left in a position where their lifestyle will change drastically for the worse. If you are entitled to alimony or child support after the divorce is completed, our lawyers will aggressively advocate for you to get what you need to maintain your lifestyle and your children's lifestyle. We aggressively advocate for our clients during every stage in the divorce proceedings.

Call a Denton County Division of Property Attorney

If you are going through a divorce, Magaña & Van Dyke will fight for you to receive everything you deserve and no less. Call 940-382-1976 for a free consultation or contact us online.