Houston Division Of Assets Attorney

Texas is a community property state. When two people marry, a marital estate is created composed of three estates:

• the husband's separate estate
• the wife's separate estate
• the community estate of the parties (the marital estate)

The separate property of a spouse consists of property owned or claimed by that spouse before marriage; the property acquired by that spouse by gift, devise or descent; and property obtained by that spouse for the recovery of personal injuries sustained by that spouse during marriage (except for property recovered for loss of earning capacity during marriage). Community property consists of the property, other than separate property, acquired by either spouse during marriage.

There is a presumption that all property on hand at the time of divorce is community property unless a spouse can demonstrate its separate character by clear and convincing evidence. Well-elaborated rules address situations where separate and community property has been commingled or where the property of one marital estate is used to benefit another marital estate.

Texas Equitable Distribution Law

When granting a divorce, the court is required to order a division of the community estate of the parties in the manner the court deems just and right. The court may consider a variety of equitable circumstances in making a distribution of the marital assets, or community property.

Detailed factual information is generally required to conduct an analysis of the marital estate of parties to a divorce and the analysis may be simple or complex depending on:

• the nature of the property included within the marital estate
• the length of the parties' marriage
• the degree of commingling of property between marital estates
• the state of the financial and property records kept by the parties

An analysis of what division of the community estate a court would likely consider to be just and right requires a detailed knowledge of the facts of the case and an analysis of the various factors the Court may consider when making a just and right division.

While the division of assets is often determined through a property settlement agreement in an amicable divorce, parties to a high net worth divorce often have more controversy over the interests of each party. Issues such as business valuations, employee benefit packages, real estate appraisals and pension valuations are often necessary in these property division cases.

Contact Terry Hart to discuss your legal questions. Se habla español.