How Does Property Division in Texas Work?
When going through a divorce, you may be under the impression that everything, like money, your home, cars, and more will be divided equally between you and your spouse. In Texas, property is divided using equitable distribution and then categorized as marital or separate property.
To understand equitable distribution, community property, and separate property, keep reading this blog by Michelle Purvis Law.
What is Equitable Distribution?
One of the biggest misconceptions in divorce cases is that people believe Texas law requires a 50/50 division of assets and property. In reality, during a divorce, your property would be divided based on what is “just and right” for you and your spouse.
So, what is equitable distribution? Equitable distribution means the assets you acquired during your marriage can be categorized as community property that gets distributed fairly, but not always equally 50/50.
What is Community Property?
In Texas, community property is considered to be all property and debt that you and your spouse acquired during your marriage, except separate property.
There are certain circumstances when your property can be considered community property under equitable distribution, including:
You and your spouse’s education.
Your future employment.
The income gap between you and your spouse.
If your divorce is a fault divorce.
More factors can impact how your property is distributed, like if you have a property that you believe should be separate from your spouse.
What is Separate Property?
Separate property is a personal property you owned before the marriage and has no connection to your spouse.
Separate property can include the following:
Property that was given to you as a gift or inheritance.
The debt you accumulated before your marriage.
Gains from investments you made before your marriage.
In most cases, assets are considered to be community property, unless you state otherwise. It’s always best to have a trustworthy attorney to help you categorize what you believe should be your personal, separate property.
How Can Michelle Purvis Help?
Michelle Purvis is an experienced and trusted attorney who has worked with families during difficult times like divorce. As a family law attorney, she is knowledgeable about Texas laws and understands what it takes to walk you through settling your property division concerns.
Call Michelle today at (817) 809-8199 to speak with her about your concerns regarding your divorce.