Protecting Your Assets During Divorce in Texas: What You Need to Know
Divorce is never easy, and when it comes to dividing assets, things can quickly become complicated. In Texas, the laws surrounding community and separate property make it essential to understand your financial position, especially if you didn’t have a prenuptial agreement. This blog will guide you through some of the key ways you can protect your money and investments during a divorce in Texas, even if you don’t have a prenup.
Property Division: How Does The Court Determine What Is Fair?
When it comes to the division of marital property, or property acquired during marriage, Texas divides property in a manner that is considered just and right during a divorce. In other words, the courts in the state try to be as fair as possible when making property division determinations. As this is not always easy, the court must use their discretion to divide a marital estate, relying on several factors to help with their decision-making process.
What Is Commingled Property & How Will It Impact Your Divorce?
When going through a divorce, part of the process requires you to determine what is considered separate property and what is marital property. So, what happens when your separate property gets mixed up in your marital property? Now, that property is what is called commingled property. An example of this would be if you owned a home before getting married, got married, and then you and your spouse decided to pay the mortgage on your house together as a unit. Your house has now become commingled property.