Asset Division

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.