If you’re in talks with your divorce lawyer, understanding community property laws is crucial. Texas is one of 9 states that follow community property rules, meaning that most property acquired during a marriage is owned equally by both spouses. This can have a profound effect on the dissolution of property during divorce proceedings.
Let John Nwosu, a family law attorney in Dallas, Texas, give you a general overview of community property law in Texas.
Community property includes almost everything both spouses acquire during the marriage, regardless of whose name is on the title or account. This covers:
- Income: All wages, salaries, and other earnings from employment.
- Real Estate: Any house or property bought during the marriage.
- Vehicles: Cars purchased during the marriage.
- Retirement Accounts: Contributions to pensions or 401(k)s made during the marriage.
- Bank Accounts: Checking and savings accounts, even if they’re in one spouse’s name.
Not everything is considered community property. Separate property includes:
- Property Owned Before Marriage: Items or assets you owned before you got married.
- Gifts and Inheritance: Property received as a gift or inheritance.
- Personal Injury Settlements: Money from a personal injury claim.
During a divorce, the court is not required to split the community property 50/50. Instead, they must make a “just and right” division, taking into account:
- The needs of any children
- Each spouse’s earning capacity and education
- Any fault in the breakup of the marriage
- Who has custody of the children
At the Law Office of John Nwosu PLLC, we’re here to guide you through the process with personalized attention.
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