Your Family Is
Our Focus

YOUR FAMILY IS OUR FOCUS

San Marcos Texas Legal Blog

Do you know which assets you’ll divide during divorce?

| Nov 20, 2018 | Divorce |

Like most people, you probably purchased items or acquired assets during your marriage that were for your sole use. However, because of Texas family law, most property acquired during marriage is considered to be that of both people unless one person can demonstrate otherwise. This community property approach can complicate your divorce.

Property division is a necessary aspect of divorce. In this process, you and your soon-to-be ex will divide up your community property. Since separate property — assets that belong only to you — are not split between the two of you, it is important to determine exactly which items are your separate property.

Your separate property might be obvious in some cases. An inheritance left only to you, a car you purchased before marriage or a direct gift from a friend are all good examples of what might constitute separate property. However, if this property is commingled or otherwise used by both you and your spouse, then it can actually become marital property.

If your ex is trying to argue that your separate property is actually community property and therefore subject to division, you may need help. Proving whether an asset is separate property is unfortunately not as easy as simply saying, “This is mine.” Financial experts such as forensic accountants may even be necessary to track down important documentation that demonstrates how the property should be classified.

You have a lot on the line during property division. If an asset is improperly valued, something is misclassified as community property instead of separate or if your ex is concealing important assets, you could lose out during your divorce. As such, having someone on your side who is experienced in Texas family law and can uphold your best interests may be helpful.