PROPERTY & ASSET DIVISION
The Texas courts divides the community estate in a “just and right” manner. This may, but is not necessarily, equally between the spouses. The steps in the division of the community estate include identifying all community assets, valuing said assets and dividing the same. There are a number of factors the court considers in determining a just and right division.
Examples of assets include:
- Real estate holdings
- Closely held businesses
- Retirement accounts, IRAs and 401(k) plans
- Stock Options, Employee Stock Option Plans (ESOPs) & Restricted Stock Units (RSUs)
- Valuable personal property
There is a presumption in the law that an asset acquired during the marriage is owned by the community. This presumption may be overcome by specific rules. Assets that are not community are the separate assets of a spouse. The separate assets of a spouse are “confirmed” as that spouse’s separate property in the Final Decree of Divorce.
Our firm’s background in economics and working closely with real estate appraisers, business appraisers and forensic accountants allow us to provide the necessary guidance to clients.