For some couples, property division during divorce is simple. They have a prenuptial agreement, and therefore, they have guidelines for splitting their assets and debts.
Most couples, however, have to address property matters during their divorces. Couples that negotiate a settlement outside of court can agree on whatever terms they both feel are fair. Couples that litigate must wait for a judge to review their resources and address their assets according to state law.
Unlike most states in the country, Texas has a community property law. What does that mean for litigated property division?
Judges start with an even split
Community property law treats assets and income acquired during the marriage as property that belongs to both spouses. Judges begin the property division process under the assumption that a 50/50 split is reasonable and fair.
However, spouses have the right to present evidence showing that other arrangements are more appropriate. Particularly in cases where one spouse disputes the assertion that an even split is fair, the community property division process can actually be relatively unpredictable.
Proof of one spouse dissipating marital property or highly uneven economic circumstances could convince a judge to make one spouse responsible for more debt or to allocate more marital property to one spouse. Unique considerations, including child custody arrangements, the length of the marriage and even the health of the spouses, can guide a judge while they split up marital resources during divorce.
Reviewing assets and debts can help people understand what to expect during divorce proceedings. Community property division can be difficult to navigate, especially in high-asset divorces involving a comfortable standard of living and complex assets. That’s one reason it’s wise for each spouse to have sound legal guidance.
