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Equitable division is the goal even in a community property state

On Behalf of | Aug 30, 2021 | Divorce, Property Division |

Texas is a community property state but that does not mean that there will be a 50-50 distribution of the marital property in your divorce.

Every divorce is unique and certain factors come into play when the court determines how to divide assets.

What community property means

The assets and debts you and your spouse acquire during your marriage are subject to division if you divorce. Examples of debt include the mortgage on your home, car loans, personal loans and credit card balances. Assets will likely include the home itself as well as other real property plus furnishings, collections, wages you and your spouse earn, retirement accounts and investment income.

Effect of a prenuptial agreement

If you and your spouse signed a prenuptial agreement before you married, it likely includes a property division agreement detailing how you planned to treat finances during the marriage and how you planned to divide marital property in the event of a divorce. In that case, a legal prenup would take precedence over a court-directed division of property.

Factors the court considers

In the absence of a prenuptial agreement, a Texas court will review several factors in the matter of property distribution. For instance, a judge will consider the effect of divorce on your future finances, your ability to earn a sufficient income, the number of children you have as well as their needs, and even the amount of taxes you must each pay on certain assets. While the end result may not constitute a 50-50 division, the goal is a split that will be as fair to you and your spouse as possible when you enter a post-divorce world.