El Paso Property Division Attorneys
Helping You Divide Your Assets in Divorce
When you and your spouse decide to get a divorce, you will need to divide your property. This can be a difficult and contentious process, especially if you and your spouse have a lot of assets. At Linette Aguirre-Gonzalez, PLLC, we understand how important it is to you to protect your property and your financial future. Our El Paso property division lawyers can help you understand your rights and options and work to ensure that you receive a fair and equitable division of your assets.
For more information about how we can help you with property division, call (915) 642-0466 or contact us online.
What Is Community Property?
Under Texas law, all property acquired during the marriage is considered community property and is subject to division in a divorce. This includes not only the family home and other real estate but also bank accounts, retirement accounts, and other assets. It also includes debts, such as credit card debt and mortgages.
Community property does not include:
- Property that was acquired by one spouse before the marriage
- Property that was acquired by one spouse during the marriage by gift or inheritance
- Property that was acquired by one spouse during the marriage with separate funds
Property that is not community property is considered separate property and is not subject to division in a divorce. However, it is not always easy to determine what is community property and what is separate property. For example, if one spouse owned a home before the marriage but the other spouse made mortgage payments during the marriage, the home may be considered community property. If you and your spouse cannot agree on what is community property and what is separate property, the court will make the decision for you.
How Is Property Divided in a Divorce?
If you and your spouse cannot agree on how to divide your property, the court will divide it for you. Texas is a community property state, which means that the court will divide your property in a way that it considers to be fair and equitable. This does not necessarily mean that your property will be divided equally. Instead, the court will consider a variety of factors, including the relative earning power of each spouse, the length of the marriage, and the age and health of each spouse.
Some of the factors that the court will consider when dividing your property include:
- Each spouse’s earning power
- Each spouse’s education and job skills
- Each spouse’s separate property
- Each spouse’s separate debts
- Each spouse’s health and age
- Whether one spouse will be the custodial parent of the children
- Whether one spouse was at fault in the breakup of the marriage
It is important to note that the court will only divide your community property. It will not divide your separate property. However, if you commingle your separate property with your community property, it may be considered community property and will be subject to division in a divorce. For example, if you owned a home before the marriage but you and your spouse made mortgage payments during the marriage, the home may be considered community property and will be subject to division in a divorce.
What Is the Difference Between Community Property and Separate Property?
Community property is property that is acquired during the marriage. This includes not only the family home and other real estate but also bank accounts, retirement accounts, and other assets. It also includes debts, such as credit card debt and mortgages. Separate property is property that is acquired by one spouse before the marriage. It also includes property that is acquired by one spouse during the marriage by gift or inheritance. Property that is not community property is considered separate property and is not subject to division in a divorce.
How Can an El Paso Property Division Lawyer Help?
At Linette Aguirre-Gonzalez, PLLC, we understand how important it is to you to protect your property and your financial future. Our El Paso property division attorneys can help you understand your rights and options and work to ensure that you receive a fair and equitable division of your assets. We can also help you identify your separate property and ensure that it is not subject to division in a divorce. If you and your spouse have a lot of assets, we can help you identify and value your assets and work to ensure that you receive your fair share of the community property.
For more information about how we can help you with property division, call (915) 642-0466 or contact us online.
