When couples go through divorce in Texas, one of the biggest conflicts is often asset and property division. This can become tricky when you consider the fact that this is a communal property state, meaning everything acquired during the marriage is automatically shared. If you and your spouse can come to an agreement, the court will usually allow you to distribute the property yourself. If not, the courts will divide it for you.
Texas divorce courts divide assets equitably which does not mean straight down the middle. Many factors are taken into consideration, such as child custody, fault for the divorce, income of both parties, health, education and many others. Once that is decided, the community property is divided.
Non-communal property includes anything owned before the marriage, gifts to just one spouse, inheritance to one spouse and compensation from personal injury lawsuits. Anything outside of that is considered community property and is included in the division. Further, assets must be proven to be non-communal in order to be excluded from the property division.
Retirement and pension funds may also be included as community property. The only funds affected are those accumulated during the marriage. This may also extend to a 401(k) and other employee benefits. In addition, if there is a business owned by either one or both parties, it will be divided equitably in the divorce.
A property division dispute can often be a tough battle to fight on your own. Anyone who is going through a divorce may benefit from having a family law attorney on their side.