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Dividing Marital Property in Texas

Posted on in Family Law

division of propertyA major aspect of any divorce is the division of marital property. Tensions can run high especially if a decision was made a long time ago that one spouse would be the primary bread winner.  While the paychecks might have just one name, Texas is a community property state, meaning that all assets belong to both spouses equally.  The same is true for debts that the couple has acquired during the course of the marriage.

There are certain factors which may alter the ruling of a divorce court.  Some assets may be considered separate property from the estate that is divided during a divorce.  It is necessary to have strong and conclusive evidence that the assets are protected from division.  This can include property that one spouse has acquired before the wedding.  It can also be a gift or inheritance that was received by only one spouse during the marriage.

Another way that the division of property can be shifted in the favor of one spouse is through the court's decision.  During the distribution of assets, the court can look to the education, age and health of each partner which will give an indication of the earning potential of each separately.  They can also see who has custody of the children, who has more separate property, and who was the cause of the divorce.

While the court can make all the decisions about the separation of property, the spouses are allowed to agree to terms by themselves.  A marital settlement can be submitted to the court which will finalize the division and assist in settling the whole process.  In order to obtain a "just and right" division of property, make sure to receive the advice of a legal professional.  Get in touch with an skilled family law attorney in Austin who can assist you through this transition in your life.

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