What Are The Community Pproperty Exceptions In Texas?

There are times when couples decide to end an marriage. In Texas, when a marriage is dissolved it is up to the courts to divide the couples' community and quasi-community property. Courts try hard to make this division in a just and fair manner as well as confirm the couples' separate property. While the courts make these decisions, it is in your best interest to work with a Dallas divorce lawyer to ensure that the settlement is based on a true and accurate account of the property to be divided. The issue of identifying exactly what is community property and what is not is often challenging. Many people believe that all property that is possessed by either of the spouses, obtained during a marriage, is considered community property. This notion can be in error as there are a variety of exceptions when it comes to identifying community property. Knowing what these exceptions are can help spouses better understand what their standing is during a divorce. A Dallas divorce attorney can explain these exceptions in detail. In general, however, they include: Any property that was owned or claimed by a spouse before the marriage. Property that was acquired during the marriage by gift or inheritance may also fall into the exception category. Any property acquired via the recovery for personal injuries sustained during the marriage, with the exception of any recovery for lost wages resulting from the injury. As mentioned above, the issue of what is and what is not community property can become challenging. In addition to the above, community property issues can arise during a divorce as a result of property that was not community property but later becomes community property as a result of actions that were taken during the marriage. For example, if one spouse refinances a house during the marriage, but both names are on the new loan, the house is not considered community property. When issues such as this are a part of a marriage, a consultation with a Dallas divorce attorney may lead to clarification. It is always best to know, beforehand, what qualifies as community property as this will reduce any confusion or disappointment later on. Working with a Dallas family law attorney who has experience, knowledge and the proper resources to accurately identify community and non-community property can make a huge difference amounting to hundreds, thousands or even millions of dollars depending on the size of the marital estate. The O'Neil & Attorneys law firm has the resources to work with highly skilled experts in a number of fields to valuate assets such as businesses and homes in order to maximize the value for their clients. O'Neil & Attorneys in Dallas, work closely with men and women who are going through divorce. They work hard to ensure that their clients receive their fair share of property and assets. When it comes to issues of community property division, working with a Dallas family law lawyer is almost always in your best interest. By working with an experienced professional, clients can help protect their rights under Texas divorce law.