Texas classifies marital property in two ways as you go through a
1. Community Property
2. Separate Property
All marital property is presumed to be community property. Anything that is not proven to be separate property is community property. Community property is property acquired during marriage by either spouse. Separate property is property acquired through gift, before marriage, acquired by inheritance, prenuptial agreements, and personal injury claims.
Some examples of community property are:
1. Income earned during the marriage.
2. Life insurance policies.
3. Real property.
4. Personal Injury awards for lost wages.
Some examples of separate property are:
1. Property earned prior to marriage.
2. Business created prior to marriage.
3. Property acquired as a gift.
4. Property acquired by inheritance.
A court cannot divide separate property in a divorce. The burden of proof to establish that certain property is truly
separate property is tough. Clear and convincing evidence must be proven by the spouse claiming the property is separate.
Often times it is found that what once was separate property has now being commingled and is community property.
There are many factors of what “just and right” are in the division of property in a divorce. It is possible the parties will agree to a 60/40 split in favor of one spouse over the other. Each case is different and unique as the parties may have different needs, wants and desires. Other factors that are included are each spouse’s income and earning capacity, each spouse’s separate property and child custody and support arrangements.
It is vital to have a dedicated advocate by your side to help ensure that you receive an equitable share of the assets in the divorce. When you contact us to schedule your consultation, we can discuss in depth your case and what you are entitled to and not entitled to.