Community property is all the property you and your spouse acquired during the marriage. Because Texas is a community property state, the property you acquired during your marriage – with some notable exceptions, such as property that was a gift or an inheritance – is considered to belong equally to you and your spouse. This includes real estate, investment accounts, retirement accounts, checking accounts, furniture, cars, jewelry, and any other property.
This gives the court the right to divide the property in such a way that it believes is fair and equitable. In order to remove some of the conflict and emotion from divorce, many couples will enter into premarital or post-marital agreements that can declare certain property to be separate property in the event of a divorce.
Most couples don’t have such agreements, however, so it is up to each party and his or her lawyer to make a compelling case for why he or she should receive a greater share of the marital estate than the other spouse. In such cases, it is crucial to have an experienced attorney who is Board Certified in Family Law by the Texas Board of Legal Specialization.