Austin Asset Division Lawyer
What is the Difference Between Community vs. Separate Property in Texas?
Texas law recognizes two types of property in a divorce:
- Community property - includes most types of assets that either spouse acquired during the marriage.
- Separate property - is anything that one spouse already had going into the marriage or anything they received as a gift or inheritance during the marriage.
Dividing shared property is often one of the most contentious aspects of a divorce. Whether you and your spouse have been married for 2 years or 22 years, you have likely amassed an extensive collection of shared assets, property, and debts. These pooled resources can now cause contention as you prepare to divide them fairly.
How Is Marital Property Divided in Texas?
Texas is a community property state, which means that all community property is distributed between the spouses in a way that is “just and right.” As such, shared property will be divided equitably, but not necessarily equally.
Examples of assets that may be subject to the division process include:
- The marital home
- Real estate
- Furniture, art, collectibles, jewelry, etc.
Spouses have the right to divide property on their own, though disputes often arise during this process and spouses cannot often agree on an equitable distribution agreement. When spouses cannot agree, the court will step in and divide property on their behalf.
When issuing a property division order, Texas courts may consider:
- Marital fault
- Each spouse’s current income and earning potential
- Each spouse’s age and health
- The size of the estate
- Each spouse’s anticipated inheritances
How Our Lawyers Can Help with Property Division
When approaching the property division process, we strive to resolve disputes amicably through mediation, negotiation, and other forms of alternative dispute resolution to save you time, stress, and money. That said, we are never afraid to represent our clients in the courtroom. We fight hard but smart, thinking outside the box to build a strong case on our client’s behalf.
To ensure that you get your fair share of the marital property, work with our trusted Austin asset division attorney at Hembree Bell Law Firm, PLLC. With extensive experience practicing family law, Attorney Hannah Hembree Bell understands the importance of proper representation during the property division process and strives to deliver the high-quality counsel you are seeking.