Understanding Property Rights in Divorce
In the divorce process, personal and community property must be divided or justly allocated to appropriate parties. During this process, you need the best divorce lawyer in Beaumont, TX to help secure your financial future. Below is a quick recap of the different types of property considered in most cases of divorce.
Texas is a community property state which means that all assets are divided equally among the two parties. Examples of this property include real estate, money, jewelry, savings, and even debts.
Gifts & Inheritances
Even though Texas is a community property state, there are a few exceptions. For instance, if a person receives a gift or a personal inheritance during the time of their marriage, that person can keep the asset as long as they can provide documentation proving its intent.
Any assets obtained before the marriage is considered separate property. This included money, investments, savings, and yes, even debts are considered the sole responsibility of the individual.
If you’re facing a family law matter and need representation, call our law offices now for a FREE initial consultation.