Getting divorced in Texas means splitting up your property under special state rules. If you own many valuable assets, the process becomes more challenging than a typical divorce.
Your divorce might involve splitting up things like business shares, real estate and retirement funds. Knowing how Texas handles property division can help you make smart choices about your money and assets during divorce.
Understanding property division rules
Texas has its own way of handling property in divorce cases. Unlike many states that use “equitable distribution” to divide property fairly but not always equally, Texas follows community property rules that typically split marital assets 50-50, though courts may adjust this division based on various factors. You’ll want to know these key points before starting your divorce:
- Joint property: Money and items you got while married belong to both of you, even if only one name is on the paperwork
- Your own property: Things you owned before getting married usually stay yours after divorce
- Mixed assets: When you’ve combined personal and marital money, you’ll need proof to sort out who owns what
- Business matters: Only the portion of a company’s value acquired during marriage may be subject to division, even if the business started during marriage
These rules play a big role in how much money and property you’ll keep after divorce. When dealing with expensive assets, you’ll probably need help from financial experts to figure out what everything is worth.
Keeping your assets safe
You can take several steps to protect your money and property during divorce. Start with these important actions:
- Make a list of everything you own and owe
- Find experts to tell you what complex assets are worth
- Think about how taxes will affect property splits
- Save papers that prove what belongs to just you
- Get business experts to look at company values
Having the right paperwork and professional support can strengthen your case from start to finish.
Understanding Texas community property laws and planning ahead can protect your money during a complex divorce. Getting help from lawyers who know how to handle valuable assets can make a real difference in your final outcome.