“What’s mine is yours.” Well, until it’s not anymore.
There are plenty of horror stories about people’s hard work being lost through the divorce process. The splitting of assets often leads to more headaches and arguments than any other aspect short of child custody. We want to help you get through this process as painlessly as possible by preparing you for the different ways assets are divided in Texas divorce cases.
Mutual agreements (including pre and postnuptial agreements)
This will often be the first and most straightforward factor. If you and your spouse signed a pre or postnuptial agreement, any assets outlined in the agreement should be divided as stated.
These agreements are generally legally binding, so it’s important to consider one if you’re getting married or re-married. However, one or both spouses can contest some or all of the agreement in Texas, so you shouldn’t rely exclusively on what’s detailed in the prenup when it comes to assets dear to you.
The court is also likely to welcome mutual agreements between you and your spouse during the divorce process. As long as the agreement is legally enforceable, you should be able to negotiate and divide assets without the assistance of the court.
Community and separate property
In Texas, property acquired during your marriage will be considered “community property,” meaning it belongs to both you and your spouse unless specifically stated and agreed to otherwise. These assets will need to be split through the divorce process, but you can argue for keeping what’s defined as “community property” if you can prove it was intended to be exclusively yours and was kept separate throughout the marriage.
Any property either of you acquired prior to marriage will be considered separate and will belong to the original party. This property will generally be untouchable in the divorce process unless one party contests it and proves the property was used mutually throughout the marriage. However, if a spouse contests what is separate you will need to prove without a doubt it was acquired prior to marriage.
Individual factors
A lot of people believe assets will be split 50/50 in a divorce, but this is often far from the truth. Truth is, the court will consider each spouse’s situation and how living life without certain assets will impact them. Your age, health, independence, and other factors exclusive to your situation will impact the division of assets.
The court has to decide what is right for each party, so just splitting everything down the middle is unlikely to be the best result. One spouse may get more of the real estate rights after a divorce while the other gets the family car or pet. If there are assets you want to make sure stay with you after the divorce, be prepared to pitch the courts what factors in your life drive your need.
Having the right lawyer
Your lawyer should be equipped to fulfill your wishes and get you the assets you’ve earned in divorce. If you go with just any lawyer, you may end up losing more than you ever imagined as the courts process your separation.
At Divorce in Texas, we believe in what’s fair and right. We want to help you get what you want in your divorce. Contact us today and let us guide you to a new start.
Divorce Wise™
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