Filing for divorce in Texas presents numerous issues that may be resolved a bit differently in this state than in most others. For instance, it is one of only nine states in the country that operate under community property division rules in divorce. This means that, most times, marital property is split 50/50 between spouses.
There are, however, exceptions. In some cases, the court might consider certain property separately owned by one spouse or the other. If the spouses signed a prenuptial agreement before the marriage, it may have a significant impact on property division proceedings. In fact, a prenup can go a long ways toward dictating how marital property is to be divided should a divorce occur down the road.
Texas law also specifies that certain property is separately owned if a particular spouse acquired it before marriage or received a gift during the marriage that was designated for him or her only. The latter might include an inheritance, family heirloom or even a birthday gift. It is also important to remember that it is not only assets that are divided in divorce. Liabilities are also split between spouses.
In short, while Texas law holds that most property acquired during marriage is jointly owned by both spouses, there are numerous issues that would qualify as exceptions. Any spouse who is worried about property division issues may want to request a meeting ahead of time with an experienced family law attorney. An attorney can protect a client’s financial interests and make sure that a fair settlement is achieved.
