Back to Learning Center

Video

Specialty tag(s): Dividing the Marital Home, Property Division

How to Identify Assets in a Divorce

Kathryn J. Murphy | April 26, 2017

Transcript

There’s basically four steps to divide assets in a divorce.

The first step is to identify all of the assets, and we have to engage in this first step before we get to any of the other steps, before we get to dividing assets, because it’s a process and a road map to the resolution. So, first, we identify all of the assets, and in some cases, the spouses just complete and sign under oath a document that we call an Inventory and Appraisement. And the inventory is simply a listing of all of your assets and liabilities. And we will also exchange documents to support every line item on the inventory, and the spouses sign that under oath, and then we start moving to the next steps to divide the assets.

In other cases, we might engage in more formal discovery, and formal discovery options consist of taking depositions. We can take a deposition of the parties, of employers, of boyfriends, girlfriends, business partners, etc. So the goal is to make sure that all assets have been identified and that we get all of the information that we’re seeking in a cost-effective way.

Services to Help Solve Your Challenges

Our attorneys are experienced in all aspects of family law and will guide you through each step of the process, ensuring you have the information you need to make wise decisions and prepare for the future.

Get in Touch

At Goranson Bain Ausley, we strive to deliver clarity about what comes next and confidence that you and your family’s future are more secure. Contact our team and discover how we can help you.

“Helping clients weigh the benefits of any given action, as well as the financial and emotional costs, is at the core of everything we do.”

Request A Consultation

Video

Ally Murphy

How to Change a Child Support or Child Custody Order

Associate Ally Murphy explains what to expect when looking to modify child support or child custody orders.

Blog

Man holding son

Sarah Aminzadeh Milinsky

What Does Primary Custodial Parent Mean in a Texas Divorce?

Associate Sarah Aminzadeh Milinsky shares what parents need to know about possession and what it means to be a primary custodial parent in a Texas divorce.

Latest Resources

Lets's Get Started

Pay Online

Austin

Dallas

Plano