Spouses may benefit from learning more about how property division is handled for divorces that occur in Texas. The court considers the rights of both parties, as well as the best interests of any children involved, when it comes to the division of the estate.
Texas courts maintain that property division will be carried out as the court deems just and right, even if assets were acquired while either spouse was domiciled in a state recognizing community property. Under state law, property that would have been considered separate property in another state is to be considered as such as in Texas. Property that was acquired in exchange for a property in another state that would've been considered separate property of a spouse is also treated as such in Texas.
The family courts also preside over decisions regarding the division of pensions, retirement payments and other benefits, as well as rights in an insurance policy. If the insurance policy isn't specifically awarded in the proceeding, it remains intact under its current terms until its expiration date. By submitting a mutually written agreement, the divorcing spouses may request Texas courts to consider earnings and income from property, salaries, wages and other compensation as separate property. As long as the written agreement between spouses concerning property division is just and right, a Texas family court will consider it legally binding.
Any spouse who needs assistance with property division may benefit from consulting a divorce lawyer as soon as possible. Legal representation may be able to negotiate effectively for a more favorable division of the assets. These lawyers might be able to accomplish specific goals or safeguard particular assets that are considered most valuable to one spouse. Legal counsel may also be able to help a spouse prepare for living an independent life post-divorce.
Source: statutes.legis.state.tx.us, "Family Code", September 21, 2014