If you have decided to separate and divorce your spouse, one of the things you may want to know about is how you’re going to divide your property. Texas is a community property state. That means that most of your property that was acquired during your marriage will belong both to you and your spouse. Both of you will have an equal interest in that property.
At the same time, each spouse will keep their own separate property when the marriage ends. To know what you’ll be able to keep for yourself, it’s important to determine what kinds of separate property you have.
What is separate property in divorce?
Separate property refers to:
- Property that was owned or claimed by one of the spouses prior to their marriage.
- Inheritances and gifts received by one spouse during the marriage.
- Money that was received for personal injury settlements by one of the spouses. This doesn’t include money that is paid for medical expenses or lost wages.
- Stock dividends on the property investments made by one spouse
- Capital gains on separate property investments made by one of the spouses
Unless you and your spouse can agree which of your assets are separate, then you will need to provide evidence. How can you do that?
Building your separate property case
It can be tough to build a separate property case in some divorces. However, items like photographs, videos, receipts and sometimes statements from those you know will be able to help you prove which of the assets are yours.
If you cannot provide evidence that a piece of property was yours before marriage or falls under a specific exemption, then it may be divided in your divorce.
What should you do to protect your assets during divorce?
To protect your assets, it’s a good idea to try to get your spouse to agree on which assets were separate property. If you cannot, then talk to your attorney about what kinds of evidence you can provide. After that, they may be able to help you build a case to protect specific assets that you want to keep in your possession.