Understand Your Property Rights, And Safeguard Your Financial Future Beyond Divorce
Perhaps because it is home to many celebrities, many Americans have heard that California is a community property state with regard to divorce. A divorce in that state often results in a 50-50 split of assets.
Texas is also a community property state, but in our state, the term means that property division should be “just and fair.” If two spouses have been earning about equally, the division of property in Texas may be 50-50. However, if one spouse has perhaps been largely a homemaker or has earned substantially less than the other, this imbalance will likely be reflected in the divorce order.
Our divorce attorneys at Bandoske & Butler, PLLC, advocate skillfully in settlement negotiations, mediation and litigation in support of our clients’ right to a just and fair division of property.
About Timing And Property Division
There is no such thing as a formal separation status in Texas. Perhaps for this reason, property division is determined at the time of divorce and not beforehand. Unlike California, where the date of separation is a strong determining factor in property division, Texas goes by the date of divorce with regard to allocation of:
- Real estate
- Personal property
- Bank accounts
- Retirement accounts
- Stocks and bonds
- Business and professional practice assets
- Complex or high-dollar assets
Through prenuptial agreements and partitions (postnuptial agreements), some couples in Texas choose to divide property at the time of separation. For a legal opinion about the enforceability of your prenup, bring it to the attention of our experienced family law attorneys.
Contact Our Family Law Attorneys For Personalized Counsel
A trusted advocate who will put your interests first in divorce negotiations or litigation is a valuable ally, indeed. Our lawyers have built a strong reputation for skill and compassion. Learn how to resolve your property division and other aspects of your Texas divorce, as well as revise your estate plan accordingly. Reach out to our San Antonio law firm by phone at 210-953-8415 or by email.