Dividing Community Property

Generally, any property that is acquired during the marriage is classified as community property. Some assets that will be evaluated as community property include:

  • Any income either party received from employment
  • A house or any other real estate purchased during the marriage
  • Vehicles purchased during the marriage
  • Unemployment compensation
  • Any recovery from a personal injury claim for lost earnings or lost wages
  • Joint checking and savings accounts
  • Contributions to pension plans, 401Ks, and other retirement plans

Any asset, liability, or other property that is classified as community property will be divided by the trial court in a manner it determines is "just and right." A "just and right" division does not necessarily mean that each party will be awarded exactly 50% of the community estate. The trial court can take into consideration several circumstances when determining a just and right division, including:

  • The health of the parties
  • The age of the parties
  • The disparity between the parties' levels of education
  • The disparity between the parties' income
  • The capabilities of each party to earn income
  • The employment opportunities available to you
  • The disparity in each parties' amount of separate property
  • Any allegation of fault in the dissolution of the marriage
  • Any allegation of fraud in the dissolution of the marriage
  • The length of the marriage

Which party was awarded custody of the children.

Would you like to discuss your property law needs? Call Tekell & Atkins, L.L.P., in Waco, Texas, today to schedule your consultation. We can be reached locally at 254-776-5095 or toll free at 877-283-5355. You may also contact us online. Attorneys are available for evening and weekend appointments. We have a Spanish-speaking attorney.