Typically all marital property gets divided in divorce. In Texas, all property is presumed to be community property (marital property) subject to the Court’s ability to divide. Texas courts don’t always divide marital property 50/50. There are many factors a court uses to divide the marital property. The parties’ relative age, any disabilities, if any, earning capacities, and fault in the break up are only a few such factors.
Unlike community property, separate property is not divided in divorce. Separate property consists of:
Property owned prior to marriage;
Property acquired during marriage but acquired through a gift or a bequest;
Certain recoveries by a spouse for personal injuries sustained; and
Property partitioned in a pre- or post-nuptial agreement.
Often times proving separate property is no easy task. Tracing property to its origin of ownership and valuing a party’s separate property can be complex and tedious. Property disputes can escalate quickly. If you are anticipating a divorce that includes real property and valuable assets (or just sentimental assets), you need an experienced lawyer who knows how to achieve your goals. The attorneys at The Savage Law Firm, PLLC have the property division experience you need. Although most reasonable property division goals can be accomplished through negotiation and/or mediation, The Savage Law Firm, PLLC is prepared to go to trial to protect your property if a settlement cannot be reached.
The Savage Law Firm, PLLC will to help you achieve your property division goals. However, at what cost? Every property division goal must be weighed against the cost to achieve that goal. That is why The Savage Law Firm, PLLC always has an additional goal: that our fee be more than offset by the added value achieved in the final property division.