Divorce brings a lot of changes to people’s lives. It can change where you live, how often you see your children and even the people who you consider to be members of your family. On top of that, it almost certainly impacts the things you own – or thought you owned.
Divorces in Texas, as in every other state, come with a division of assets. Savings, property, and pretty much everything else you own will be divided between you and your soon-to-be ex-spouse. Not only is a property division in a divorce inevitable, but it also can be one of the most divisive issues in the entire proceeding—sometimes even more than child custody, visitation, and support. That raises the question: how does Texas approach the division of assets?
Texas Is A Community Property State
Texas is a community property state. In Texas Family Code Sec. 3.002, it states that everything you acquire during your marriage – money earned, real estate purchased, and any other property obtained– is considered to belong equally to both spouses and will be divided by the Court. Texas divorce courts are required to consider and divide all marital property between the two spouses, usually treating all debts and assets incurred during the marriage as shared equally between the divorcing spouses.
There is a caveat to this, however: the court can order a division of property that is not equal when there are “just and right” reasons to do so. While “just and right” is only two words, it actually consists of many factors left to the discretion of the Court, after considering both spouses’ rights.
Initially, the court proceeds from the assumption that everything is community property to be divided equally. To show that something acquired during the marriage is not community property requires clear and convincing evidence in support. General categories of non-community “separate property” are items owned before marriage, items acquired by gift or inheritance, certain types of disability benefits, and some personal injury lawsuit proceeds. This being Texas, there are specific complicated rules for separate and community interests in certain assets such as ranches, livestock, and mineral interests.
If something is shown to be separate property, it is not part of the Court’s division of property and would be confirmed as belonging to the separate estate of the party who owns it.
Consult The Dallas Asset-Division Lawyers Of Orsinger, Nelson, Downing, and Anderson LLP
Divorce isn’t easy, and neither is the division of property that inevitably follows. To ensure that you get all of the community and separate property to which you are entitled, you need expert help. The Dallas asset-division attorneys of Orsinger, Nelson, Downing, and Anderson, LLP can provide that help. You can reach us at (214) 273-2400.
Our talented Texas divorce attorneys also have offices in Frisco, Fort Worth, and San Antonio. Out of 100,000 lawyers in Texas, there is no other law firm that has more attorneys on the Thomson Reuters list of Top 100 Texas Super Lawyers. That means you can have confidence that you will be getting quality work on your behalf.