Every divorce is different; however, almost every divorce in Williamson County involves the distribution of marital assets. Indeed, for many divorcing couples, how their debts and assets are divided is among their primary concern. At the Law Office of Jason Wright, our Williamson County property division lawyers have decades of experience representing clients from all walks of life in divorce proceedings. We understand the common challenges that stand in the way of reaching an agreement with your soon-to-be-ex spouse and have developed the tools necessary to reach a result that ensures you have everything you need to start your new life.
Property division during divorce is a complex and emotionally charged issue, and Williamson County, like other jurisdictions in Texas, follows community property laws. This means that, as a general rule, any assets and debts accumulated during the marriage are divided equally between the spouses. However, it’s essential to know that equal doesn’t necessarily mean a 50/50 split but what the court considers to be “just and right.”
First, you’ll need to identify all the assets you and your spouse own. These can include real estate, vehicles, retirement accounts, stocks, businesses, and even household items. Separate property, which is anything owned before the marriage or acquired through gift or inheritance during the marriage, generally remains with the original owner. Therefore, being able to prove separate property can be crucial.
Second, the valuation of assets is critical. For some assets, like bank accounts, this is straightforward. For others, like real estate or businesses, it may be advisable to hire experts for accurate valuation. Debts are also considered in this division, and they can be assigned to one party or split between both.
Third, Texas law considers various factors in dividing property, such as each spouse’s earning potential, who has custody of the children, and the length of the marriage. In Williamson County, the court may also consider factors like fault in the breakup of the marriage, although this is not usually a significant factor in property division.
Finally, while judges aim for fairness, their interpretation can vary widely. For this reason, many couples opt for mediation or collaborative law processes to negotiate property division mutually. Hiring a knowledgeable family law attorney experienced in Williamson County’s legal landscape can help guide you through this intricate process.
The first step to determining any property division issue in any Williamson County divorce is to identify all marital property. Marital property in Texas is governed by community property laws, a system that differs significantly from the equitable distribution model followed by most other U.S. states. Under the community property system, assets and debts acquired during the course of the marriage are typically considered community property and thus owned equally by both spouses. This includes wages earned by either spouse, real estate, vehicles, and even debts accrued while married. These assets are generally subject to a 50/50 split upon divorce, barring any prenuptial or postnuptial agreements to the contrary.
However, not all property falls under the umbrella of community property. Certain assets are considered separate property and remain solely owned by the spouse who acquired them. These include assets owned before the marriage, gifts and inheritances received individually by either spouse during the marriage, and any property designated as separate through a legally valid marital agreement. Any rents, revenues, or interest generated from separate property also remain separate.
The distinction between community and separate property can become complex when separate property becomes commingled with community assets. For example, if one spouse uses separate money to contribute to a community asset like a jointly-owned home, tracing those contributions could become complicated, and the asset might be deemed partly separate and partly community property.
Debts generally follow similar rules: Those incurred during the marriage are usually considered community debts and are split equally, while debts incurred before marriage remain the responsibility of the individual who acquired them. However, in some instances, even a debt taken on by one spouse can be considered separate if it was for a purpose not benefiting the marriage.
It is important to remember that these are general guidelines and that Texas courts have discretion in determining the classification and division of assets and debts during divorce proceedings. Therefore, if you are going through a divorce or planning to marry in Texas, it is important you consult with a dedicated Williamson County property division lawyer at the Law Office of Jason Wright to fully understand how Texas’s property distribution laws could apply in your specific circumstance.
After determining what constitutes separate property and community property, Texas courts divide assets based on what is “just and right.” Judges have broad discretion in making property distribution decisions and may consider any of the following:
Longer marriages may often lead to a more equal division of assets, while shorter marriages may result in a division that reflects each party’s contributions.
The court may consider the earning potential and economic needs of each spouse. This could include career sacrifices made by one spouse for the benefit of the other or the family.
If one parent is awarded primary custody of the children, they may also be awarded the marital home or other assets that provide a stable environment for the children.
This can include both financial and non-financial contributions. For instance, one spouse may have been the primary breadwinner while the other may have been a homemaker.
In some cases, instead of a division of particular assets, the court may award spousal support to balance the economic effects of the divorce.
Just like assets, debts incurred during the marriage are generally considered community property and are divided between the spouses.
Prenuptial or postnuptial agreements can significantly influence how assets are divided as long as they are deemed valid by the court.
While Texas courts must divide property according to what is just and right in most circumstances, if one party proves that the other was at fault for the breakdown of the marriage, the court can take this into account. For example, the following are all statutory grounds for a fault-based divorce in Texas:
Fraud on the community is a term used to describe a situation where one spouse transfers community property to someone else outside the marriage or spends community funds on someone or something outside of the marriage without the other spouse’s approval. Occasionally, a spouse will engage in fraud on the community for the sole purpose of depriving the other spouse of the assets, while in other cases, a spouse may be spending community funds on an outside romantic relationship or transferring money to friends or to children from a prior marriage.
In any case, a finding that a spouse committed fraud on the community allows the judge to take that into account when dividing whatever community property remains. The court may also grant certain legal or equitable relief as necessary to accomplish a just and right division. Some things a court can do in divorces involving fraud on the community include:
When going through a divorce, dealing with property distribution can be one of the most complex and emotionally charged aspects of the process. A Williamson County divorce lawyer can provide invaluable assistance in navigating these complicated issues, ensuring that your assets are divided in a fair and equitable manner in accordance with Texas laws. With their in-depth understanding of Texas family law and community property rules, they can help you make sense of what is often a tangled web of assets, liabilities, and legal obligations.
One crucial role that a divorce lawyer plays is to accurately identify and value all marital assets. This includes not only obvious assets like homes and cars but also investments, retirement accounts, and even business interests. An incorrect valuation can—and often does—lead to an uneven distribution, which can be a major point of contention long after the divorce is finalized. At the Law Office of Jason Wright, we often consult with financial experts to ensure a fair valuation and distribution of assets.
Additionally, our Williamson County divorce lawyers can help in cases where one spouse may be attempting to hide assets or misrepresent their financial situation. Through the process of “discovery,” legal tools can be used to require full financial disclosure. This is essential for a fair division of property and can safeguard you from unknowingly agreeing to an inequitable arrangement.
Beyond the financial aspects, property distribution can have significant emotional and practical implications. For instance, decisions about who gets to keep the marital home or family heirlooms can be highly emotional and may require skilled negotiation. A seasoned divorce lawyer can act as a mediator in these instances, helping to balance legal guidelines with emotional sensitivities.
In conclusion, property distribution in a divorce is a complex process requiring specialized knowledge of family law, financial acumen, and, often, a knack for negotiation. A qualified Williamson County divorce lawyer can be an indispensable asset in helping you protect your interest so you can start your new life on the right foot.
Williamson County divorce judges treat all marriages equally when distributing community assets. Thus, there is little difference in how a court will divide a couple’s assets when overseeing the dissolution of an informal marriage. However, there are certain considerations that may come up that bear on the court’s decision on how to split up community property. For example, it may be harder for a judge to determine the length of a long-term informal marriage.
If you are contemplating divorce but have questions about how Texas divorce laws will apply to your case, reach out to the dedicated Williamson County property division lawyers at the Law Office of Jason Wright. At our Williamson County divorce and family law firm, our reliable, responsive and passionate lawyers have decades of experience helping clients through the difficult process of divorce, doing everything possible to make your experience as smooth as possible. Attorney Wright was named a 2022 Rising Star by Super Lawyers, an honor bestowed on just 2.5 percent of all attorneys in the state. To learn more and to schedule a no-obligation consultation with one of our Williamson County divorce lawyers today, call (512) 884-1221. You can also connect with us through our secure online contact form.
