Divorce is never easy, and one of the most contentious issues couples face is dividing assets. In Texas, community property laws dictate that most assets acquired during a marriage belong equally to both spouses. However, achieving fair property division in Houston is not always as simple as splitting everything 50/50.

The divorce rate in Texas is around 1.9 per 1,000 people. This means thousands of couples each year must determine how to divide their marital property. The financial implications of property in a divorce can be significant, making legal support for property division essential to protect your interests and ensure a fair outcome.

At Daniel Ogbeide Law, we understand how emotionally and financially stressful property disputes can be. As a dedicated property division lawyer in Houston, TX, we help clients protect their rights and secure their financial future.

This article covers the key aspects of property division in a Houston divorce, including how assets are classified, factors that influence distribution, and how an attorney can help safeguard your assets.

Community Property vs. Separate Property

Texas is a community property state, which means that most assets acquired during the marriage are considered joint property. However, not everything is subject to equal division. Understanding the difference between community and separate property is critical:

• Community Property:Includes income earned, real estate purchased, and other assets acquired during the marriage. These assets are generally divided between both spouses.
• Separate Property:Includes assets owned before the marriage, inheritances, gifts received individually, and personal injury settlements awarded to one spouse. Separate property is not subject to division, but proving ownership may require strong legal representation.

One common issue arises when separate and community property become mixed, such as when a spouse deposits an inheritance into a joint account. In such cases, tracing and proving the original source of funds is necessary to prevent an unfair distribution.

Factors That Influence Property Division

While community property laws guide asset distribution, the court considers various factors to determine what is fair. Some of these factors include:

1. Each spouse’s earning capacity and financial situation– If one spouse has a significantly higher income, the court may award more assets to the lower-earning spouse.
2. Child custody arrangements– The custodial parent may receive a larger share of marital assets to ensure stability for the children.
3. Fault in the divorce– While Texas allows for no-fault divorces, a spouse’s misconduct, such as adultery or financial fraud, may influence asset distribution.
4. Health and age of each spouse– If one spouse has health issues or is nearing retirement, they may be granted a more favorable division of assets.
5. Contributions to the marriage– This includes both financial contributions and non-financial contributions, such as raising children or supporting a spouse’s career.

How Property in a Divorce is Divided

Courts in Houston aim for equitable—not necessarily equal—distribution of assets. The process typically involves:

• Identifying all assets and debts– This includes bank accounts, retirement funds, real estate, vehicles, businesses, and any outstanding debts.
• Determining the classification of each asset– Whether each asset is community or separate property.
• Valuing the assets– This often involves appraisals for real estate, business valuations, and financial assessments.
• Deciding how assets will be divided– The court may award assets in a way that considers financial fairness, rather than a strict 50/50 split.
• Finalizing the property division– Once an agreement is reached, the court issues a final order, making the division legally binding.

Protecting Your Interests During Property Division

Many people assume that property division in a divorce will be straightforward, but hidden assets, complex financial holdings, and disagreements can make the process difficult. To protect your financial future, consider these steps:

• Keep financial records– Bank statements, tax returns, and property deeds can help establish ownership and value.
• Avoid mixing separate and community property– Keep separate property in a designated account to prevent disputes.
• Assess tax implications– Some assets, like retirement accounts, may come with tax burdens when divided.
• Consult a property division lawyer in Houston, TX– Legal guidance ensures that your rights are protected and that you receive a fair share of the marital assets.

What Happens to the Family Home?

One of the most emotional aspects of property division in a divorce is deciding who keeps the family home. The court may consider several factors:

• Which spouse has primary custody of the children– Stability for children often takes precedence.
• Ability to afford mortgage payments and upkeep– If one spouse cannot afford the home alone, selling it may be the best option.
• Equity in the home– If there is significant equity, one spouse may buy out the other’s share.

Selling the home and dividing the proceeds is common, but if one spouse wants to keep it, refinancing or other financial arrangements may be necessary.

Ensure a Fair Outcome With Experienced Legal Support

Are you concerned about how your assets will be divided in your divorce? The financial stakes are too high to handle alone. At Daniel Ogbeide Law, we are committed to ensuring that property division in a divorce is handled fairly and in your best interests. As an experienced property division lawyer in Houston, TX, we provide strategic legal support for property division and help clients secure their rightful share of marital assets.

Contact us at 832-321-7005 to schedule a consultation and take the first step toward protecting your financial future.