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Many factors can complicate the division of marital property from the hiding of assets to committing actual or constructive fraud against the marital estate to complex financial factors regarding separate vs. community property, and more. We have a firm grasp on all of the variables that can occur and how to deal with them to help you achieve a fair and just property settlement.
Book a confidential consultation about your case with a Fort Bend County property division attorney at Bastine Law Group. Contact us online or by phone at (281) 784-3222 today.
Under Texas law, all property, assets, and debts acquired during a marriage belong to the marital “community” estate. This applies whether the assets were acquired by one or both spouses. In a divorce, the marital estate must then be divided and distributed in a fair and just manner. This does not always translate into an equal split between the parties.
The property that may be involved in marital community estates can include:
- The marital home and other real estate holdings
- Bank accounts
- Retirement accounts and pensions
- Certain employment benefits
- Family-owned businesses/ business interests
The courts will evaluate the unique circumstances of the couple in determining this issue. Various factors may be reviewed by the courts, including each party’s income, earning capacity, financial resources, ages and health conditions, current financial conditions, and their “separate” property estates.
What Is Separate Property?
Separate property is that property you owned before the marriage, property that was acquired during the marriage by gift or inheritance, or personal injury awards or settlements. However, even separate property may be subject to the community property division rule under certain circumstances, such as when commingled into the marital estate by increasing its value through further investment.