Dallas Marital Assets Law Firm

In the state of Texas, there are two forms of property that are recognized by the family courts:  marital property (marital assets) and separate property.  When spouses divorce, the courts will have to decide how property is to be distributed.  The only time courts will not decide upon the division of marital assets is when spouses have prenuptial or postnuptial agreements that identify how assets are to be divided should the marriage be terminated. 

The state of Texas is a community property state, which means that all marital assets are subject to equal distribution.  Marital assets include things like:  houses, automobiles, furniture, savings, debts and liabilities.  All marital assets that are acquired throughout the duration of the marriage are regarded as “community property”, regardless of which spouse is currently in possession of the assets.  For example, even though one spouse may be living in the couple’s home at the time of the divorce does not mean that the spouse will get to keep the home.  Instead, the court may order that the house is sold and that the couple equally split any revenue gained from the sale transaction.

Separate Property

Texas recognizes that spouses have separate property and that owner’s of separate assets should remain in rightful possession of their property.  In order for any property to be considered separate, it must be owned prior to the commencement of the marriage or be acquired by time or inheritance.  Separate property is not subjected to Texas’ equal distribution laws. 

Dallas Marital Asset & Nuptial Agreement Attorneys

People who have questions related to marital assets or separate property, it is always best to speak with a family lawyer who understands Texas family law and community property law.  By working with a Dallas attorney, people will be able to protect their assets and financial security should their marriages tragically come to an end. 

If you have questions regarding marital assets in Texas, our Dallas nuptial lawyers can provide you with exceptional legal services you need.  Simply contact our law firm to set up your initial consultation!