During the process of a divorce, you will be required to settle the division of your marital assets in a manner that satisfies both you and your spouse before coming to a formal agreement. In addition to the marital property which is subject to equal division among interested parties, many individuals hold separate property that bears no relation to the marriage and cannot be targeted for division by your spouse. In order to protect this property, it is important to be sure that you take steps that prevent any indication that your assets may be mixed with other marital assets.
At Holmes, Diggs & Sadler, our legal team is dedicated to protecting the rights and interests of our clients as they go through the divorce process and can offer clear guidance on all of the many practical issues you will face along the way. To learn more about your rights and legal options, call our experienced divorce attorneys today at (713) 766-5355.
Depletion of Separate Property
In most situations, individual property brought into a marriage becomes community property under the doctrine of commingling when the funds are combined into a shared account or otherwise attributed to both spouses. While it is possible to keep property entirely separate from marriage, there are a number of ways in which this property may become mixed, or “depleted,” and, thus, vulnerable to asset division in the divorce. The following are a few of the more common ways in which property is depleted:
- Marital living expenses paid with separate assets rather than marital property
- Commingling of previously separate property with marital property in such a way that the two are indistinguishable
- Using separate property from a commingled asset prior to clearly identifying the separate asset through asset tracing.
With the guidance of a skilled attorney, you may be able to more effectively protect your interests throughout the course of a divorce.
If you have questions regarding the status of your separate property in a divorce and wish to know how best to protect your financial interests, the first step is to seek out skilled legal representation experienced in asset division proceedings. To schedule a consultation to discuss the details of your case and how a lawyer can find a legal solution that suits your needs, call Holmes, Diggs & Sadler today at 713-766-5355.