How Are Marital Debts and Assets Divided in a Texas Divorce?

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How Are Marital Debts and Assets Divided in a Texas Divorce?

If your marriage has ended and you live in Texas, with a substantial marital estate, your debts and assets will be divided according to the Texas community property laws. That’s different from most other states. Let’s take a look at how the Texas community property laws work and what you can expect after a marital dissolution.

What Is Community Property Mean in a Texas Divorce?

Texas is one of only nine states in the nation that don’t use “equitable distribution” to allocate the marital estate in a divorce proceeding. In states with equitable distribution, the court will consider a wide range of factors in an effort to determine what is “fair” or “equitable.” In Texas, though, all marital property is categorized either as separate property or as community property. Separate property generally includes:

  • Any property owned entirely by one party before the marriage, though the property may become community property if it is “commingled” during the marriage
  • Property acquired by one of the parties during the marriage as
    • A gift
    • An inheritance
    • A personal injury settlement or verdict (except for any compensation for lost wages or income during the marriage)

All property not deemed to be separate property will be considered community property. As a general rule, separate property will be returned to the individual owner pursuant to the divorce. All community property must be equally divided between the parties.

Contact the Knowledgeable Texas Community Property Attorneys at Graham Family Law

At Graham Family Law, we bring more than 20 years of experience to men and women in San Antonio and the surrounding communities who need proven divorce and family law counsel. We are skilled trial attorneys who can protect your rights before a judge and jury. We are also respected within the legal community for our ability to negotiate effective settlements for our clients. Call us at 210-308-6448 or contact us by email to schedule a consultation today to discuss your case.

Handling Divorce and Family Law Matters throughout San Antonio and the surrounding communities, including Bexar, Kendall, Floresville, Wilson, Atascosa, Hays, Comal and Guadalupe counties, as well as the municipalities of Saspamco, Sutherland Springs, Poth, Olmos Park, Grey Forest, Kirby, Timberwood Park, Sandy Oaks, Pleasanton, Poteet, Charlotte, Leming and Kyote

 

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