How Are Assets Divided in a Divorce?

Before you seek out a San Antonio divorce law firm, you’ll want to know a few things about property division. Texas is what’s called a “community property” state. That means any assets or debts acquired during the marriage are to be distributed equally to both parties in the event of divorce. This includes income from employment and can include benefits like bonuses, dividends, and profit-sharing payouts. Also included are properties or items bought together during the marriage, such as the family home or vehicles. Community property might also include jewelry, clothing, or big ticket items like a boat or motorcycle.

In addition to the rules that govern community property, Texas courts also have a duty to ensure that assets, debts, and properties are divided in a way that is deemed “just and right.” This means that in some circumstances, property can remain that of only one partner. This is called “separate property” and is something any San Antonio divorce law firm can help you understand. Separate property may include things one partner owned before the divorce and can include lottery winnings, court settlements, or inheritances left to only one spouse. Generally speaking, the division of community properly has little to no bearing on impending child support.

In most cases, a San Antonio divorce law firm will advise you that community property is split down the middle. If you have a compelling reason why that shouldn’t be the case, it may fall to you to make sure your attorney understands all the facts. Community property splits can be impacted if one spouse bears more responsibility for the divorce or if one spouse will remain the primary caregiver for the children. The San Antonio divorce law firm you hire should be adamant about making sure you get what is just and right, no matter how much your soon-to-be ex-spouse might disagree. The family lawyer you hire will be your best ally in getting the result you deserve.


Comments are closed.