Did you sign a prenuptial agreement when you first got married? If you did and are looking to divorce your spouse now, you need to reexamine your prenuptial document. There are some types of properties you are legally owed. Our divorce attorneys in McAllen can assess your prenup and guide you through a divorce. We want to share a few types of property you need to know about as you enter your divorce proceedings.
Separate and Community Properties
Separate properties refer to any assets owned before entering marriage and any gifts or inheritances given during the marriage. Separate property isn’t divided in a divorce court hearing, but community property is. Community property refers to assets owned equally by both spouses.
These include:
- Land
- Vehicles
- Joint Taxes
- Family home
- Vacation homes
- Bank accounts
- Retirement accounts
- Family possessions such as artwork, musical instruments, etc.
Division of Community Properties in Texas
Although both partners equally own all the community property during their marriage, a judge determines who receives what property in a divorce. A judge is under no obligation to split the property fairly. However, they choose which person receives property based on a specific set of circumstances that are “just and right.”
Community property is distributed based on:
- A child’s needs.
- A spouse’s needs.
- The age and health of each spouse.
- The education level of each spouse.
- Parental responsibilities of each spouse.
Contact Our McAllen Divorce Attorneys Today!
Our divorce attorneys in McAllen understand that getting a divorce is a delicate process and requires reliable counsel. Our divorce lawyers in McAllen can act as your legal representation and walk you through all legal divorce matters. Send us a message online or call (956) 287-7555 today.