Property Division

When a couple divorces in Texas, their community property assets and debts must be divided. An asset or debt acquired during the marriage is presumed to be community property. An asset or debt brought into the marriage by a spouse is considered to be separate property and remains with that spouse, with some possible adjustment for its increase or decrease in value. An inherited or gifted asset is also considered to be separate property, as long as there is proof it was inherited or gifted and the asset can be traced back to its origin.

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The division of community assets and debts must be “equitable”, which may not be the same as “equal”. Common marital assets include:

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• Family home or other real estate

• Bank accounts

• 401(k), pension, and other retirement plans

• Stocks, bonds, stock options, restricted stock units, and other investments

• Business interests

• Automobiles

• Furnishings, equipment, collections, and jewelry and other personal effects

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Divorcing spouses often need different types of assets after divorce, so it usually doesn’t make sense to split everything down the middle. Camille considers each client’s individual circumstances so she can guide them towards the most beneficial property settlement for them.

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Whether your marital estate is simple or complex, contact Camille to help you achieve an equitable property division in your divorce.

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