The document outlines the legal framework for property division in divorce cases, emphasizing that only community property is divisible by the court, and separate property must be proven as such. It discusses the valuation process for assets and liabilities, noting that difficulties can arise, especially with closely held business interests. The document also highlights the expertise of Geary, Porter & Donovan, P.C. in handling complex property division cases.

2. 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. 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. 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. 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. 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. 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. 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. Handling the matter with Geary, Porter &
Donovan, P.C.FamilyLaw
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.
#divorce_assets

11. Handling the matter with Geary, Porter &
Donovan, P.C.FamilyLaw
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

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