Corpus Christi Property Division Attorney
Advocating for Fair & Equitable Property Division
Property division under Texas law involves a range of considerations. The "just and right" division standard governs how property is allocated, but its application varies based on each unique case. Factors like the length of the marriage and whether children are involved can all shape the outcome. Having an advocate by your side to guide you through this legal maze can ease the burden significantly.
At the Law Offices of Rudy Santos, L.L.C., we understand that property division is much more than a financial checklist. It’s about preserving your stability, safeguarding what matters most to you, and ensuring you can rebuild after divorce. Whether you are dealing with distressing disagreements or simply need guidance through the legal process, we are here to provide the clarity and support you deserve.
Property division doesn’t have to be overwhelming. Call (956) 476-3337 or contact us online and schedule a consultation with an attorney who will help guide you.
What Is Considered Property in Texas?
During a divorce, almost everything of economic or sentimental value acquired during the marriage could be subject to division. Under the Texas Family Code, both tangible and intangible assets fall under the umbrella of property. It’s important to familiarize yourself with what is included in this category to ensure no assets or debts are overlooked.
- Real Estate: This includes homes, rental properties, timeshares, and any undeveloped land owned by the couple. The family home is often a key asset to address, as one or both spouses may feel emotionally or financially tied to it.
- Financial Accounts: Bank accounts, savings, and money market accounts are all subject to division if acquired during the marriage. Even individual accounts opened in one spouse’s name may be considered community property if funded with marital income.
- Retirement Accounts and Pensions: Any retirement funds accrued during the marriage are part of the marital estate, including unvested benefits in some cases. Dividing these accounts often involves court orders like a Qualified Domestic Relations Order (QDRO).
- Business and Investments: Whether a business was launched before or during the marriage, its valuation and division can be one of the most contentious topics in divorce proceedings. Investments, dividends, and rental income are part of this category, too.
- Assets of Sentimental or Unique Value: Jewelry, artwork, vintage cars, collections, or family heirlooms are often included in the property division process.
- Debts: Mortgages, loan repayments, credit card balances, and other liabilities are treated as part of the marital estate. Texas courts divide both assets and debts when determining an equitable distribution.
- Other Assets: Insurance policies, intellectual property rights, patents, royalties, and other intangible items often get brought into discussions about property division.
The Texas Family Code provides a framework for categorizing and managing these assets, but the complexity of individual cases requires careful attention. Our team can help ensure that all assets and debts are properly identified, valued, and addressed to avoid confusion or financial loss.
How Is Property Divided in a Corpus Christi Divorce?
Property division in a Texas divorce is based on the “just and right” division standard, as laid out in the Texas Family Code Section 7.001. This standard doesn’t guarantee an even 50/50 split. Instead, the court aims for a division that is deemed fair, taking into account several factors that can influence the allocation of assets and debts.
Factors Influencing Property Division
- Length of the Marriage: Longer marriages often lead to more complex property divisions, especially when significant joint assets or debts have been accrued.
- Each Spouse’s Financial Situation: Courts consider income disparity, job prospects, and the financial needs of each spouse post-divorce.
- Parental Responsibilities: If one spouse will have primary custody of the children, the court may award the family home or allow for greater financial provisions to support stability for the children.
- Fault in the Marriage: Although Texas is mostly a no-fault divorce state, marital misconduct such as abuse or adultery can be factored into property division.
- Health and Future Needs: The court may consider medical conditions that limit a spouse’s earning potential or create financial burdens.
Steps in the Property Division Process
- Identification of Assets and Debts: Both parties must disclose all assets and liabilities, from retirement accounts to household furnishings.
- Valuation: Accurate appraisals and valuations ensure fair division. This can involve financial professionals for complex assets like a business or investments.
- Division: Based on the case circumstances, the court splits the assets and debts in a manner deemed fair. This could include awarding one spouse the family home while compensating the other spouse with additional retirement funds.
While some divorcing couples can negotiate a settlement outside of court, litigation may be necessary when disputes arise. Strong legal representation helps ensure your financial interests are protected throughout the process.
