Property Division
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When a married couple decides to divorce, they face the complex task of dividing what they own. Assets and debts accumulated throughout the marriage, including property, mortgages, and savings, must be divided. This is part of what makes divorce so challenging and why working with a specialized divorce lawyer in Sugar Land is crucial.
Alongside child custody, dividing property is one of the most critical aspects of divorce. Texas law recognizes two main categories of property: separate property and marital property. Separate property includes assets and debts the spouse acquired before marriage, while marital property encompasses anything acquired jointly during the marriage.
Texas courts examine various factors when deciding how to divide marital property fairly. Key considerations include the length of the marriage, the age and health of both spouses, each spouse’s employability, any marital misconduct, and the roles each played in homemaking and childrearing. Your Sugar Land divorce lawyer will advocate for your interests throughout this process.
Texas is legally designated as a community property state. However, its laws differ slightly from those in other community property states. Property division follows the “just and right” standard in Texas, meaning that the division does not have to be equal, but it should be what’s most fair given the circumstances of both spouses. Factors like child custody, earning potential, and career sacrifices made for the family may influence a judge’s decision. A divorce attorney in Sugar Land can help you understand these considerations and argue for an equitable share of the property.
While family homes are often awarded to the custodial parent to provide stability for children, financial assets are generally divided equally. In cases where one spouse has stayed home to support the family, the other’s retirement savings or business investments may also be subject to division.
Family-owned businesses can add an extra layer of complexity to property division. They often require a CPA or business appraiser to determine the value. Sometimes one spouse will take over the business, or, in unique situations, both spouses may choose to remain co-owners after divorce.
Property division can be one of the most emotionally charged aspects of divorce. If you own property in Sugar Land, Katy, Tomball, or Houston, let us guide you through this process to achieve the best possible outcome. The Eaton Law Firm will help you move forward confidently by ensuring you receive your fair share. Contact us for assistance dividing property and assets today.
