Texas is a community property state, which means that divorcing couples are required to split the value of their marital property equally. It does not matter which party acquired the asset or earned the money to do so. At Sinclair Law Group, PC in Forney, we provide the legal guidance you need to protect your rights and secure a fair property settlement. With considerable experience, we are strong advocates for clients throughout Texas during negotiations and in court.
At Sinclair Law Group, PC, we give clients comprehensive information concerning the division of assets and debts in a divorce. In this jurisdiction, community property is designed to encompass almost any type of asset that is accumulated by a married couple. Items that can be considered as community property include:
Houses, cars, boats, clothing, furniture
Copyrights, patents, trademarks
Bank accounts, stocks, life insurance that has cash value
However, there are items that are not considered community property for the purposes of division following a divorce. These may include:
Assets acquired before marriage: Community property law does not apply to inheritances and property acquired before the marriage and kept separate during the marriage — for example, funds from a trust that was left to you from your mother’s estate and that you kept in a separate bank account from your spouse or domestic partner throughout the entire duration of the marriage or partnership.
Items covered by prenuptial agreements: Couples with prenuptial agreements can avoid community property division by setting forth their own terms in writing before marrying or entering into a domestic partnership.
Mixed community and separate property — commingling: It can be difficult to distinguish between community property and separate property. The most common problem is with pension plans. If a pension plan or retirement account was started before the marriage and contributions continued to be made to it throughout the marriage or partnership, it can be difficult to divide. In this example, the contributions made before marriage might be considered separate property while those contributions made during the marriage are considered community property. We can explain how such gray areas are handled under Texas law.
Sinclair Law Group, PC will deliver strong counsel when issues arise relating to asset valuation and classification. We assert clients’ rights no matter how complex or contentious the divorce might be.
At Sinclair Law Group, PC, we make it our business to get you through this trying time as smoothly as possible. Reach our community property law attorney by calling or contacting us online for a consultation at our Forney office.