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Texas is a community property state and by statute all property held by either or both spouses at the time of divorce is presumed to be community property and thus subject to division by the court. The court is required to divide the community property in a just and right manner.
Right now, this year, more than ever before; working men and women are facing the long-term financial effects of failed marriages. What can you do today if you are separating assets, because of a divorce?
The significance of separate property is that a court cannot divest a spouse of their separate property. Therefore, once a court determines that a particular piece of property is separate property, then it must set that property aside to the separate property owner. The burden is upon a spouse to prove that property is his or her separate property by clear and convincing evidence.
Retirement Benefits are classified as property and therefore can be subject to a ’just and right’ division by the court.
Before the court can divide community property, the property needs to be identified and valued. Each spouse is qualified to express an opinion as to the value of property.
Texas requires that divorcing spouses try mediation before going to trial. Spouses can request a jury trial, but generally a judge decides the trial rather than a jury. Mediation is an ideal way to prevent the element of surprise that comes with taking a divorce case to trial. Many judges will tell you that a divorce trial has no winners, because the outcome is rarely in favor of just one party.
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