Property Division Is Not As Simple As You Think

Because Texas is a community property state, many people think that property will be divided in half. Unfortunately, property division is not quite that simple. The law calls for a just and right division of property, and that does not always mean equal. Furthermore, there is the issue of separate property versus marital property. Matters become even more complex when business interests, investment accounts and other unique assets are involved.

At Jamie Graham Associates, PLLC, in San Antonio, our attorneys are committed to protecting your property interests during divorce. We will use our 30 years of combined experience to safeguard the property that is important to you and pursue a division of property that is favorable to you.

HOW PROPERTY IS DIVIDED IN TEXAS

While a 50-50 division of property is generally the starting point and indeed the end result in many cases, a multitude of factors could tip the balance. These factors include fault in the breakup of the marriage, health, age, education, present earnings and earning capacity and children. For example, if one spouse will have physical custody of the children, that may impact what is done with the family home. If one spouse is able to earn a better income than the other spouse, that may also shift the balance in property division.

Debt can also significantly influence the way marital assets are awarded in your divorce. It is not uncommon for bankruptcy issues to arise amid a divorce proceeding.

Our role is to carefully review the situation and make certain no factor is overlooked to ensure that the division of your marital property is favorable to you.

SEPARATE PROPERTY VERSUS MARITAL PROPERTY

The law presumes that all property is marital property (also referred to as community property) and is therefore subject to division in your divorce proceeding. Marital property includes all property obtained during your marriage, including your paychecks, real estate, cars, royalties, retirement plans, life insurance, investment accounts, businesses and even your family pets.

Separate property includes any property obtained prior to marriage, as well as property acquired during marriage in the form of a gift or inheritance. You have the burden to prove that something is your separate property. This is important, because separate property is not subject to division in your divorce.

Identifying separate property can be particularly challenging when separate and community property have become commingled. An example of commingling of assets is a home purchased prior to the marriage, but paid off during the marriage. Our attorneys have ample experience tracing and proving separate property assets and dealing with reimbursement claims.

CONSULTATION ABOUT DIVISION OF ASSETS

Call 210-308-6448 to talk to our experienced lawyers about getting a fair division of property during the divorce process.