When you file for divorce, property division is an important aspect of the process. Understanding how it works and what you are entitled to will help you prepare for this.
You can learn more about property division in a Texas divorce here.
Community property
Texas follows community property rules. This means if property is purchased or acquired while you are married, it is owned by you and your spouse.
When a couple divorces, the court will divide this community property in a manner that it deems “just and right,” which may not always be a 50/50 split. The court will consider several factors when deciding on the division.
Separate property
Separate property, on the other hand, is property that is just yours (or your spouse’s). This includes any assets that you received before you were married. It also includes inheritances or gifts that one person received during the marriage. This property does not go through the division process. It remains with the original owner.
To protect separate property, it is important to maintain clear records and documentation that prove ownership and the separate nature of these assets.
Factors influencing division
The division of property in a Texas divorce is influenced by several factors. These include:
- Length of the marriage: Longer marriages often result in a more equal division of assets, while shorter marriages may see a different approach.
- Earning capacity: The court may consider the future earning potential of each spouse, especially if one spouse has been out of the workforce or has a significantly lower income.
- Contributions to the marriage: This includes not only financial contributions but also contributions as a homemaker or caretaker.
- Fault in the divorce: If one spouse is found to be at fault for the dissolution of the marriage (e.g., adultery or cruelty), this may impact the division of property.
- Health and age: The physical and emotional health of each spouse, as well as their ages, can influence the court’s decision.
Navigating property division in a Texas divorce requires an understanding of community property laws, separate property and the various factors the court considers. It is beneficial to seek legal guidance to ensure a fair and equitable distribution of assets and debts.