Let the Merritt Law Attorneys Help You Settle Property Division in Texas.
In any divorce, one of the most critical aspects is the division of property. Property division in Texas can be decided by an agreement between the spouses or by a judge. In many cases this can be an area of contention. At the end of the divorce, the property must be divided in a “just and right” manner. Even if a judge divides the property there is no set formula to be used. Texas law simply requires that there be a a “just and right” division. There are differences in types of property that will guide the court in its decision, and that can influence the eventual division of assets.
Community Property vs. Separate Property
As the term implies, community property assets are those that the spouses acquire during the time of marriage. Most often, the general goal is to divide community property assets more or less equally between the spouses. If the judge decides how to divide the property, he or she may take into account many things including who was at fault for the ending of the marriage, adultery, earning capacity of the spouses, whether there was spousal abuse or if one spouse mismanaged martial assets.
Separate property is that which was owned or acquired prior to the marriage or any inheritances or gifts received by one spouse during the marriage. This type of property will revert to the owning spouse on divorce. The same criterion applies to separate debts by one spouse and the other spouse will have no obligation to pay those debts.
Division of Property
While the two types of property appear easy to designate, there can be conflict over what is community property from a marriage. It may depend on how the property was acquired, money or credit used and named ownership. In a divorce trial by jury, the jury will decide what property will be classified as community or separate, although the judge will still control the actual division of assets. Because of these complexities, parties to a divorce should have an attorney with experience in divorce and property division who can argue for a classification and division of property that is equitable.
How Can We Help?
In a contested divorce, division of property can be an emotional issue and Merritt Law knows how to advocate for your rights to get you your fair share of the assets, and preserve your separate property. Property division in Texas can be complex, and deserves careful legal evaluation. If possible we will work to gain an agreement with your spouse, but will not hesitate to litigate the case before a judge or jury to gain a just outcome on your behalf. As our client, we want to protect your share of assets and give you the chance to get on with your life in the best financial position possible. Please contact us to discuss your divorce and property division in Texas.