What Is the Difference Between Separate and Community Property in San Antonio, Texas?
Understanding Property Division Laws in Texas
If you are considering divorce, you likely have many questions about the legal and financial issues that you will need to address, and you may be concerned about how you and your spouse will divide the property you own. During your marriage, you have most likely accumulated multiple types of assets, and you will want to make sure you will be able to receive your fair share of this money and property. You may also wonder about how any assets you owned before you were married will be handled, and you may be concerned about your ability to protect your financial interests and make sure you will be able to provide for your needs after your divorce is over.
The attorneys of Brandon Wong & Associates know that property division can be a source of anxiety for many spouses going through a divorce. Uncertainty and misinformation can make answering the question "Will I have the assets I need to be okay financially?" very difficult. We help you ease your fears by educating you about the law and helping you understand what to expect during the divorce process. With extensive experience representing clients in family law cases, as well as a reputation for treating our clients with dignity and respect, you can trust that we will provide the legal help and representation that will allow you to protect your interests and achieve a positive outcome to your case.
Community Property Vs. Separate Property
Under Texas law, all property that you and your spouse have acquired during your marriage is considered to be community or marital property. These assets will be subject to equal division upon divorce. Property you owned prior to your marriage, anything you purchased with money you earned prior to getting married, or assets you inherited from loved ones are considered separate or nonmarital property. Separate property is not subject to division.
When you file for divorce, the court will presume that all property you and your spouse own at the time of the divorce is part of the marital estate, regardless of whose name is on the title, property deed, or other ownership documents. You and your spouse have the burden of showing that the court should exclude certain property as separate. As you work to determine how to divide the property you own, you may need to address multiple types of assets, including:
- Your marital home or any other residential or commercial real estate properties you own.
- The vehicles used by you, your spouse, or other members of your family.
- Your personal belongings, including the furniture in your home, appliances, kitchen utensils, and decorations.
- Valuable items such as jewelry, antiques, collectibles, or artwork.
- Financial assets, including joint or separate bank accounts, stocks and other investments, and retirement accounts or pensions.
- Family-owned businesses or other business interests.
- Marital debts, including balances on joint or separate credit cards for purchases made during the marriage, as well as home mortgages, auto loans, or other types of loans.
It is important for divorcing spouses to understand that separate property is not always an "all or nothing" determination. Separate property that had been owned by one spouse can be commingled with marital property. For example, you may have opened a retirement account prior to your marriage, but you may have contributed funds to it during the marriage, and determining the marital portion of this account may be difficult. In some cases, the value of separate property may be enhanced by nonmonetary contributions made by either party. A common scenario involves a spouse who works at a business that the other spouse owned before getting married, and in these cases, the business owner spouse may be required to reimburse the other spouse for the contributions they made that led to an increase in the value of the business.
Contact Our San Antonio Property Division Attorneys
If you are considering divorce, we encourage you to contact us as soon as possible. Our lawyers have a strong understanding of complex property division issues, and we excel at skills such as tracing ownership interest in commingled property and uncovering hidden assets. We can advise you on the steps you need to take and the documentation we will need to help you protect your interests. We welcome you to call our office at 210-201-3832 or fill out an online contact form and schedule a consultation with a qualified and experienced property division lawyer.