Dividing property in Texas, a community property state
Aug 4 2016 - Posted by On Behalf of the Lincoln Law Firm, PPLC, in Property Division, Tagged in Property Division
When a Texas couple decides to divorce, it can be an emotional and trying time. Property division is one of the most important and contentious topics that couples need to work out. But how does property division work in Texas, a community property state?
Many people think that because Texas is a community property state, the marital property is equally divided between the spouses. In reality, property is divided based on a manner that is “just and right”. There are several factors that are considered in order to determine what is equitable. Some of the main factors a court looks at are a spouse’s earning potential and whether there are kids involved and who will be responsible for raising them. The judge can then order a 60-40 or 55-45 division of property and assets. Other factors that may influence an uneven division of assets include fault in the marriage, difference in ages, anticipated inheritance, among others.
There are many different complexities when it comes to Texas property division in a divorce. A legal professional skilled in family law can help an individual going through a divorce navigate their needs both during the divorce and after. An attorney can help their client with figuring out what they will need once the divorce is finalized in order to be successful. Since there are so many emotions involved during the divorce process it can be helpful to have a third party with expert knowledge.
Although Texas is a community property state, there are many reasons why a divorce settlement would be unevenly distributed. Being prepared and having good legal advice can help a person emerge from the divorce ready to begin their new life.
Source: statutes.legis.state.tx.us, “TX FAMILY § 7.001-7.009″, accessed on Aug. 2, 2016