Southlake Property Division Attorney

Common Assets in a Divorce

When a marriage ends, a variety of assets must be divided between spouses. Some of the most common assets involved in property division include:

• Real Estate – Family homes, vacation properties, rental properties, and undeveloped land
• Bank Accounts – Checking, savings, and investment accounts
• Retirement Accounts – 401(k)s, IRAs, pensions, and other retirement savings
• Business Interests – Privately owned businesses, partnerships, and professional practices
• Personal Property – Vehicles, jewelry, artwork, furniture, and collectibles
• Debts and Liabilities – Mortgages, credit card debt, student loans, and personal loans
• Stocks and Investments – Mutual funds, stocks, bonds, and other financial instruments
• Insurance Policies – Life insurance with cash value or investment components

Determining how these assets are classified and distributed is essential to achieving a fair outcome in a divorce settlement.

Separate Property vs. Marital Property

Texas law distinguishes between separate property and marital (community) property when dividing assets in a divorce. Understanding this distinction is crucial in determining what is subject to division.

• Separate Property: Assets that belong exclusively to one spouse, including:
  • Property owned before the marriage
  • Gifts or inheritances received by one spouse during the marriage
  • Compensation from personal injury claims (excluding lost wages and medical expenses)
• Marital Property (Community Property): Assets acquired by either spouse during the marriage, with a few exceptions. This includes income, property purchases, and retirement contributions made during the marriage.

In Texas, the presumption is that all property acquired during the marriage is community property, unless clear and convincing evidence proves otherwise.

Texas Property Division Laws

Texas is a community property state, meaning that marital assets are generally divided in a manner deemed “just and right” by the court. This does not always mean a 50/50 split; rather, the court considers several factors, including:

• Each spouse’s income and earning capacity
• Contributions to the marriage, including homemaking and child-rearing
• Fault in the divorce (e.g., adultery, abuse, or financial misconduct)
• The health and needs of each spouse
• Custody arrangements for minor children
• Debts and liabilities assigned to each spouse

While spouses can negotiate their own property division agreement, if they cannot reach a consensus, the court will make the final determination.

Protecting Your Financial Future

At the Law Office of Dana L. White, we prioritize your financial well-being and future stability. Our approach includes:

• Asset Identification and Valuation – Ensuring all marital property is properly disclosed and accurately valued
• Negotiation and Mediation – Striving for amicable resolutions that minimize conflict and cost
• Litigation Support – Vigorously advocating for your rights in court when necessary
• Pre- and Postnuptial Agreement Review – Assessing the impact of agreements on property division
• Business and High-Asset Divorce Considerations – Addressing complex property issues for business owners and professionals

We recognize that every case is unique, and we tailor our strategies to meet your specific needs and goals.

To let us protect your assets and rights, contact us today at (817) 697-0180.