December 20, 2017
Texas is a community property state. This means any income or assets acquired throughout the course of the marriage is considered equally owned by both spouses. Likewise, any debts incurred are normally shared. When it comes to divorce though, the division is not so straightforward.
In a community property state like Texas, the judge doesn’t simply divide everything in half. Instead, the judge weighs all the facts to decide what is “just and right” or “equitable.” This division doesn’t simply apply to assets, it also applies to debts. There are, however, some items classified as separate property.
Separate Property
Separate property is any:
When you divorce, the items classified as your separate property will remain your property alone. They will not be taken from you as part of the divorce settlement.
The Divorce Settlement
Each individual will keep his or her separate property, but the division of community property varies. The judge considers and weighs all the factors to determine a “just and right” resolution. In many cases, the judge orders a 50/50 split. However, if children are involved or if there is a lopsided difference in earning capacities, the split will more likely be 55/45 or 60/40 with the larger percentage going to the caretaker of the children or the individual with the lower earning capacity. These aren’t the only factors in determining the division of community property. Some others include:
Conclusion
Divorce can be unpleasant no matter where you live. In Texas, where all your income, assets, and debts are counted as community property, it is especially beneficial to have a lawyer’s help. Attorney Cheryl Alsandor is Board Certified in Family Law by the Texas Board of Legal Specialization. This means that she specializes in family law matters such as divorce and property division. For more information on property division in Texas, click here or call us at 713-661-9783.