Asset Division in Texas
Information from a Trusted Houston Asset Division Lawyer
Texas is "community property" state, which means that most property
that either spouse acquires during the course of the marriage is eligible
for division during a
divorce. You might believe that this makes asset division a simple matter, but
there are many exceptions and other factors to consider in these cases
and either spouse may quickly find themselves a disadvantage.
That is why is it is imperative that you retain knowledgeable and assertive
counsel to assist you in your divorce proceeding—even if you believe
your assets are easily divided. For over a decade, my
family law firm,
Torres Law, P.C. has stood alongside clients who needed to fight to keep their proper share
of their marriage's assets. I am ready to do the same for you and
your divorce today.
Call me today or schedule a
case evaluation to get started.
"Community" Property vs "Separate" Property
There are only a few exceptions to community property in Texas divorces—these
are designated as “separate property.” As separate property,
they are excused from consideration during the division process.
Separate property in a divorce can be:
- Property owned by a spouse from before the marriage
- Any personal injury proceeds awarded to one spouse
- Inheritance left to a spouse
- Any gifts given to one spouse
All other property, including all income, joint purchases, and real estate
are considered community property. If you are unsure about whether a certain
asset is considered community or separate, contact me today.
Other Key Factors
Even with separate property removed from consideration, a number of different
factors could still sway asset division in one spouse's favor over
another. Some of these include:
- Tax considerations
- Child custody
- Health issues
- Anticipated inheritance
- Difference in ages
- Ability to work
- Differences in earning capacities
Fault is also considered a key element is property division. If adultery
or cruelty are part of the grounds of your divorce, than the "innocent"
spouse may be favored with certain assets during the division.
Skilled Houston Asset Division Attorney Ready to Stand With You
As you can see, even with community property laws, there are still many
different factors to consider when asset division is contested, and each
spouse needs to make sure that their interests are properly spoken for.
Get the advocate voice you need to assert your rights as a deserving party
in your divorce and
call me at Torres Law, P.C. today.