“Death and taxes” have been referred to as two of life’s certainties, but there are others. One of them is that the longer you are married, the more assets you and your spouse will acquire that can be considered to be community property of the marriage. When a marriage — especially one that has lasted for several years — ends in divorce, asset distribution sometimes becomes a highly contentious matter.
A significant challenge when deciding who gets what in a divorce distribution is to properly determine the nature of each asset. Texas is a community property state, but in practice this does not mean that all assets are automatically subject to a 50-50 split in a divorce. Each asset must be examined to determine whether it is indeed community property, or whether it is separate property of one spouse. Generally speaking the property you bring into the marriage is your separate property. In some situations, even assets you acquire during the marriage may not qualify as community property.
On the other hand, sometimes an asset that was at one time clearly your separate property can become commingled or in other ways become a candidate for treatment as community property. How can you tell the difference? If you are not already familiar with Texas divorce laws, do you really have the time to learn how they apply to your divorce
Especially if a divorce is contested, you may need professional legal help to make sure that all of your property interests are treated equitably. At the Vaught Law Firm, we can be your advocates during this difficult time. We have more than three decades of experience with Texas family law, and our body of knowledge can be an important resource for you as we vigorously represent your interests.
Call us at 512-342-9980 to arrange to speak with one of our attorneys, or go online to learn more about how we can help.