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Barbara L. Jouette, Attorney, P.C.
888-268-7997 / 214-385-4562

The importance of protecting your assets

Divorce is a hard time. When dissolving a marriage you may also be contemplating on how you will be distributing your community properties and figuring out the cost of your property valuations.

In McKinney Texas, the three types of estates are community property estate, separate property estate and spouse's separate property estate.

The first property is the community property, which is a shared property during a marriage between the husband and the wife. This may also include luxury properties if there are any luxury homes, summer homes, furniture or any other assets that were handed out during the marriage. The second type of estate is a separate property estate that a spouse had prior to the marriage including gifts and other assets. The third type is a spouse's separate property. The spouse's separate property is ownership by your spouse before the marriage.

Some couples may have already signed a prenuptial agreement, a pre- marital agreement signed by a couple before their marriage to protect their assets if the marriage does not succeed. A signed agreement is a good idea if you or your spouse is earning and you are trying to protect your assets.

For instance, you and your husband have separated and the value of a couch you bought together which was a whopping $3,000.00. However, due to the prenuptial-signed agreement the value of the couch is now $1,500.00.

The best way to make sure you may receive the right representation, you may want to consider hiring an experienced lawyer, who can help you gain all the properties that may be rightfully yours.

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