In Texas, marital property is divided under the “community property” system, meaning all assets and debts acquired during the marriage are considered jointly owned. During a divorce, the court aims for a division that is “just and right,” taking into account factors like each spouse’s earning potential, fault in the marriage’s dissolution, and custody of children. Assets are not always split equally, but the division is intended to be fair, considering the circumstances of the marriage and divorce.
Marital property division is a vital issue that must be addressed in a divorce. In Texas, property division is based on certain laws and doesn’t have to be 50/50. The state follows community property laws when dividing marital property. During a divorce, all property is deemed community or separate. Any property acquired by a couple during marriage is considered community property, which is subject to court allocation and division. The family court will divide this property depending on what is fair and right after they consider all evidence and testimonies presented. To ensure you get a fair share of your property during your divorce, reach out to family law expert.
The Property Division Process
This process begins with identifying which property is community or separate. Then, the court will some factors to distribute the assets. These factors include the length of the marriage, the spouses’ income difference, the presence of children, the spouses’ educational backgrounds and health conditions, their business opportunities, and whether one of them is at fault for the separation. The property division hearing of the court will also distribute debts fairly and rightfully.
Types of Property that are Subject to Division
Any piece of property that the court deems community property is subject to fair and right division. This includes real estate, annuities, vehicles, jewelry, personal belongings, intellectual property, retirement accounts, marital debts, trust assets, and others.
Fault and Property Division
Divorces in Texas can be no-fault or fault-based. With a no-fault divorce, the marriage broke down without a chance of reconciliation. In such a type of divorce, fault is not taken into account during the process. But if the wrongdoing of the spouse contributed to the breakdown of the marriage, this could impact the division of property.
Fault may particularly be considered in court-ordered property division if a spouse used considerable marital property for paying their extramarital affair or a substance abuse issue. The family court may rule in favor of the spouse who didn’t cause the separation. It may decide to grant this spouse more share of the marital property to compensate for the funds they didn’t benefit from.
To ensure a smooth property division process, you need an experienced family lawyer to be your advocate. Your attorney will investigate your case to collect important information about your shared assets, locate possibly hidden assets, and protect your interests when negotiations take place. They can interpret family matters related to your divorce and help you determine appropriate arrangements.
