There are numerous challenges inherent in divorce. Couples need to separate their finances, which can be particularly difficult. There may also be financial support issues that arise. Many people worry that property division could lead to a very unfair outcome.
There is a significant amount of misinformation floating around about property division proceedings in Texas. While most states have adopted equitable distribution statutes, Texas still has a community property law. People often worry about what community property rules might mean for their finances after a divorce. If they can’t settle their disagreements about asset distribution, then they may have to go to court.
Judges look for a fair solution
Many people provide inaccurate information about community property rules, they claim that the courts always divide marital property in debts evenly in half. While that is sometimes the case, it is not universally true.
The community property statute in Texas actually requires a very careful review of marital circumstances. Judges begin with the presumption that a 50/50 split is appropriate, but they may change their perspective as they review the situation. A judge must divide both the property and debts acquired during the marriage in a manner that is fair for both spouses.
They may look at how long the marriage lasted, the income of both spouses, the separate property they each own and any unpaid contributions they made to the marital estate. In some scenarios, it may make sense for a judge to allocate more of the marital estate to one spouse or to make one spouse responsible for the majority of marital debts.
A 50/50 split can occur, but many cases involve a more detailed property division settlement than that. Many people dislike the uncertainty that comes with litigated divorce proceedings. They want to protect specific assets or secure certain terms. Those couples may benefit from attempting to reach a settlement outside of family court.
Learning about how Texas handles property division matters in a divorce can be beneficial for those preparing for negotiations. Spouses who understand the law can set reasonable expectations and may ultimately feel more satisfied with the outcome of the process.