What Factors Can Affect The Division Of Property And Debt In A Divorce?

Texas is a no-fault divorce state, and in most cases, judges are directed to divide a marital estate by what’s referred to as a fair and just division. People mistakenly believe that this means a fifty-fifty division, but that’s not always the case. For example, if one party is determined to be more at fault for the breakup of the marriage, such as by committing adultery or being physically abusive, then the other party could ask the judge for an unequal division—something more compensatory for them than a fifty-fifty division.

Are Pension And Retirement Assets Divided In The Same Way As Other Types Of Property In A Divorce?

Generally speaking, pension and retirements assets are divided in the same way as other types of property in a divorce. Money that accrues unto a pension or retirement account during the time of a marriage is generally considered a community asset. There are some mathematical issues related to the division of community assets, many of which can be complicated. For this reason, it is important to speak to an experienced family law attorney who is familiar with these types of assets, particularly military retirement. There’s a large military community in El Paso, so those cases are pretty common in this locale. Given the various legal forms and documents that are required, it can be a very daunting process for someone who is attempting to handle this type of divorce on their own. For example, the defense accounting and finance offices have certain types of forms and orders that must be submitted to them in order to divide the retirement according to the court’s orders.

How Do Courts Handle Division Of Debt In A Divorce In Texas?

Debts that are accrued during the time of the marriage are considered community liabilities, irrespective of the name of the party who accrued the debt. For example, regardless of the name on a credit card, if the credit card debt was accrued during the time of the marriage, then that debt would be considered a liability at the time of the divorce. This is also true with respect to other types of debt, such as car notes and mortgages, which are often forgotten or overlooked. People incorrectly believe that if they take out a debt or a credit card in their own name during the time of the marriage, then they are solely responsible for that debt, but that’s not the law.

Am I Responsible For My Spouse’s Credit Card Debt After A Divorce?

Whether or not you will be responsible for your spouse’s credit card debt after a divorce will depend on the reason for the debt. For example, if the debt was accrued to make repairs to a home that was owned jointly by you and your spouse, then the debt would be considered community debt, even if you weren’t directly aware of it. It is very difficult and sometimes requires a financial expert’s analysis to trace particular charges. If your spouse accrued debt solely for personal purposes, such as a personal vacation, then it may be possible for you to convince a judge that you are not responsible for that debt.

Am I Allowed To See My Ex-Spouse’s Credit Card Statements?

Through certain legal processes, you certainly have the right to obtain your spouse’s financial records at the time of divorce, including bank account and credit card records. Obtaining this information could require motions to compel that would be presented, heard, and decided by a judge. If your spouse refuses to turn over those records, then you might be able to file a motion for sanctions.

Why Is It Critical To Hire An Experienced Family Law Attorney To Handle A Divorce?

There are many reasons to hire an experienced family law attorney to help you handle a divorce. For one, there may be questions that you don’t even know you need to ask. You may be unaware of the fact that your spouse has certain assets or retirement accounts, and you may never find out unless you have a knowledgeable attorney who knows which questions to ask. Most lawyers are aware of their responsibilities in terms of producing such information, and quite commonly a spouse will disclose only some of their financial information.

Having a knowledgeable family law attorney is the only way to really know what you’re looking for, and this is particularly true in divorce cases involving children. When children are involved, just completing the paperwork can be a very lengthy and complex process, and you will encounter various legal and mandatory provisions that must be included in the divorce papers. People who try to represent themselves in these types of cases run into a lot of frustration and time delays because their paperwork is not completed properly. Furthermore, it’s very common for judges to turn away such parties and disallow them to conclude their case.

For more information on Division Of Property And Debt In A Divorce, a free case evaluation is your next best step. Get the information and legal answers you are seeking by calling (915) 301-7819 today.