Texas is a community property state, which means that everything you earn during the marriage is considered to be jointly owned by both spouses.
According to divorce attorneys, here are provisions in the law for situations where it might not seem logical to divide all of your property equally.
In divorce, property is divided equally between the spouses unless a different division of assets has been previously agreed to by both parties or ordered by a judge after divorce proceedings have begun.
A divorce attorney can help you understand what your rights under Texas state law might be in divorce proceedings.
Income Considerations
Income of both spouses may be considered.
Per experience divorce attorneys, if one spouse earns the majority of income during the marriage and another takes care of children or stays home to manage their affairs while they are traveling for work, there is a good argument that those contributions should be considered as well.
As another example, if one spouse has traditionally been the breadwinner and put in more hours to get ahead at work than the other did during marriage, that person might be awarded a larger share of community property.
Division of Retirement Accounts
Another area where this is relevant is when it comes to the division of retirement accounts.
The divorce lawyer can also help you understand how pension or 401K plans will be treated, as these account balances are often considered community property in divorce proceedings.
More Of Value Than Money: Personal Property and Debts
Divorce attorneys also have to consider that there are sometimes non-monetary contributions that should be considered in the division of property.
For example, if one spouse made an emotional or physical contribution toward ensuring a home was well kept throughout the years together, it might mean they are entitled to more than just their share of money from sale proceeds.
Other Considerations
Divorce attorneys advise that here are different ways that property can be classified or considered, including: community property, separate property and quasi-community property.
For example, if a divorce court finds that the assets were brought into the marriage by one spouse or inherited during the marriage by one spouse, then they may be considered separate property.
Some divorce proceedings may also involve the division of debt as well as assets.
In Summary
The divorce lawyer you choose to represent your interests should have an understanding of this process in order to better represent your interests and protect your rights.
He or she can review the facts of your case and help you understand what factors may be important when determining how to divide assets if you are getting divorced.