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Understand Texas marital property rules for divorce

| Nov 10, 2020 | High Asset Divorce |

Texas couples who decide to divorce will find that marital property rules are different in this state from the majority of states across the country. This is because asset division operates under community property guidelines. In order to protect one’s financial interests in divorce, it is imperative to learn as much as possible about these rules before heading to court.

The court typically implements community property rules by equally dividing all marital assets and liabilities 50/50 in a divorce. Texas also operates under an “inception of title” rule, which determines a specific asset’s status at the moment of acquisition. Marital property comprises any and all assets acquired during marriage, unless a particular asset has been identified as separately owned.

Common examples of separately owned property would include inheritance, personal gifts, property acquired before marriage or most court-awarded monies from personal injury claims. In some cases, after a family court judge has handed down a property division ruling, one or the other spouse might determine that he or she has grounds to appeal the decision in a higher court. Such cases are complex and often emotionally stressful.

It is always best to consult with an experienced Texas family law attorney when one is concerned about asset division issues in preparation for divorce proceedings. An attorney acts as a personal advocate during proceedings, ensuring that a client’s rights and financial interests are protected. A family law attorney also knows exactly what to do if a spouse suspects that his or her ex is attempting to hide assets to gain the upper hand in property division proceedings.