09 Feb Texas is a Community Property State – What Does that Mean?
If you have been through a divorce, you have probably heard the term “community property” used on more than one occasion. Community Property is defined in the Texas Family Code simply as “property acquired by either spouse during the marriage.” It is also important to note that what is considered separate property or community property may be up to a judge’s discretion, which can get a little grey when it comes to property acquired during the divorce proceedings.
What Doesn’t Count as Community Property?
Since community property depends on it being purchased between the spouses during the marriage, anything that was acquired before marriage is considered the property of the spouse who acquired it.
Other things may not count as community property include:
- Revenue of separate property
- Things Willed to One Spouse
Our Recommendation (Not Legal Advice)
While no one wants to enter into a marriage thinking of divorce, you may think it necessary to make a list of all of the things you solely own and bring into the marriage. This can include anything from your 401(k) earnings pre-marriage to any property or large-ticket assets. You may also decide to draft a prenuptial agreement or will to prove separate property beforehand.
If you are wondering what all is considered Community Property in your divorce settlement or want to draft a prenuptial agreement, contact our team of experienced divorce lawyers by calling 940.566.0606 or visiting nbfamilylaw.com