Getting a divorce can leave you with a lot of issues and questions to sort through. One of the most pressing issues is how your marital assets will be divided.
Each state handles divorce differently, so you must understand your state’s unique laws on divorce. Whether your state is a community property or common law state can drastically change how the court divides your marital property.
Texas is a community property state
Texas is one of a few states that use community property laws to split up marital assets. This means that the court will divide possessions that each spouse obtained during the marriage equally between spouses.
How is separate and community property determined?
Texas uses the inception of title rule to make the distinction between community and separate property. This law takes a look at the status of the property at the time you acquired it. Using this rule, some examples of separate property would be:
- A business you purchased before the marriage
- Birthday gifts received during the marriage
- Inheritances
Outside of the inception of title rule, Texas labels all possessions as community property unless you have evidence showing otherwise.
Going through a divorce can drastically affect your finances if you do not have experience with how Texas handles property division. Speaking with a knowledgeable Texas divorce lawyer could help you protect your assets. Your attorney will also be able to guide you through the process and answer any questions you may have along the way.
