Property Division and Evaluation | Family Law | Geary, Porter & Donovan | GPD

1. Property Division & Valuation

2. What matters in property division and valuation The law says that the court shall order division of property in a manner that the court deems "just and right", having due regard for the rights of each party and any children of the marriage. Only community property is divisible by the court; the court cannot divest a spouse of his/her separate property. #property_valuation

3. What matters in property division and valuation The court will initially presume that all property owned at the time of divorce is community property. A spouse must prove that an item of property is his/her separate property. However, if separate property has been "comingled" to the point that the separate property status cannot be clearly determined, the court will be required to rule that such property is community. #community_property

4. What matters in property division and valuation Generally, community property is all property acquired during the marriage. However, exceptions do exist. Some examples of community property may include, wages earned during a marriage, retirement plan contributions, pension plans, 401ks, IRAs, homes, cars, stock options, country club memberships, life insurance and more. #divorce_and_property_division

5. What matters in property division and valuation

6. What matters in property division and valuation In order to make an informed decision regarding property division, one must have a complete understanding of all assets and their values, as well as, all liabilities. This is true whether a case will be settled or tried to the court. #divorce_property_law

7. What matters in property division and valuation In order to make an informed decision regarding property division, one must have a complete understanding of all assets and their values, as well as, all liabilities. This is true whether a case will be settled or tried to the court. #separate_property_divorce

8. What matters in property division and valuation In the event of a trial, the court must determine the fair market value of all property as of the date of divorce. In the event the property does not have a fair market value, the court shall determine the value of the property to the owner. This can be a challenging and complicated process. #divorce_settlement_agreement

9. What matters in property division and valuation One of the more difficult assets to value is an interest in a closely held business. If the business interest were acquired during marriage, it is generally considered community property. If the business interest were owned prior to the date of marriage or acquired with separate funds during marriage, it generally will be considered separate property. #community_property

10. We have extensive experience in complex property division, including: • High asset divorce; • Business and partnership interests; • Real estate interests; • Stock options and other forms of executive compensation; and • Retirement plans/401(k) plans. Handling the matter with Geary, Porter & Donovan, P.C.FamilyLaw #divorce_assets

11. We set the bar high with uncompromising preparedness. We offer our clients access and the resources of our in-house multi-disciplinary legal team. As a result, we are nimble, thorough and proactive. • "We acknowledge and understand all aspects of a complicated family law case. We are meticulous with the details." • - Michael Geary Handling the matter with Geary, Porter & Donovan, P.C.FamilyLaw

12. "A lawyer handling a complex property case is much like the captain of a ship. He must manage all aspects of the voyage while never forgetting that the client directs the ship." - Larry L Martin "We understand that your case is unique, just as you are, and requires a unique strategy.“ - Julia Henry Reach Us At Dallas Area Office 16475 Dallas Parkway, Suite 400 Addison, Texas 75001-6837 P: 972-349-2389 F: 972-931-9208 www.familylaw.gpd.com