Tips from the Divorce Attorney to Trust in Fort Worth, TX
There are many challenging issues in any divorce, but figuring out how to divide a couple’s assets, possessions, and wealth can often be among the most contentious. How the law handles division of property during a divorce may vary from state to state. The divorce attorneys here at Abercrombie & Sanchez Law have all the information you need to know for the state of Texas. Read on to learn more, or contact our offices in Fort Worth or The Woodlands to schedule a consultation.
All marital property is considered community property in Texas. This means that any income earned by either spouse equally belongs to both spouses and will be split evenly in the event of a divorce. The same is true of any debt incurred and applies to both real and intangible assets. Texas courts will operate under the presumption of community property unless extenuating circumstances are clearly proven, at which point an unequal division may be ruled.
It is possible for one spouse to have an asset or revenue source which is entirely their own throughout a marriage, and the law would consider this separate property. Common examples include income from renting a home purchased before the marriage and kept in one name, a settlement from a personal injury lawsuit, or an inheritance gifted to a direct blood relative. With the proper evidence of ownership, separate property is not subject to division.
If there is a reasonable basis for an unbalanced split, the court will have complete discretion about how to distribute the community property. Their adjustments will take into account several factors, such as the earning capabilities of each spouse, whether one spouse is the primary caregiver for any children, and whether either party’s actions were directly responsible for the failure of the marriage. It’s important to note that the court’s decisions to issue spousal maintenance requirements like alimony payments is unrelated to the division of property.