Back to Learning Center

Video

Specialty tag(s): Property Division

The Two Types of Assets in a Texas Divorce

Thomas L. Ausley | September 3, 2019

Transcript

Essentially, we have two kinds of assets in Texas. One is separate property, the other is community. If in fact something is separate property, it cannot be taken from you at the time of the divorce and given to the spouse. If it is community property, then it is jointly owned at the time the divorce starts and it has to be divided. In Texas there is a presumption that all property is community property, but clearly, many times folks have separate property.

One of the things they should focus on is getting a complete list of all of the assets and all of the debts. And then secondly, to focus on the source of the funds. And so, it’s a matter of getting information on the front end, as much information as you can initially give to your lawyer saves time, money, and energy. We represent good people at the worst time of their lives. So, it’s very difficult. You want to protect them and you want to do everything you can to not make it worse.

For more information on separate and community property as they pertain to divorce, please contact Tom Ausley at 512-454-8791.

Services to Help Solve Your Challenges

Our attorneys are experienced in all aspects of family law and will guide you through each step of the process, ensuring you have the information you need to make wise decisions and prepare for the future.

Get in Touch

At Goranson Bain Ausley, we strive to deliver clarity about what comes next and confidence that you and your family’s future are more secure. Contact our team and discover how we can help you.

“My goal is to provide successful solutions to problems clients face and ease their transition to a different future and new beginnings.”

Request A Consultation

Blog

Jonathan James

Five Important Tips Before You File for Divorce

Attorney Jonathan James shares five things to consider before you file for divorce, including how to make the transition easier for your children.

News

Goranson Bain Ausley Named 2022 Top Workplace in Dallas 

We are proud to announce the Dallas Morning News has named Goranson Bain Ausley a Top 100 Workplace for 2022.

Latest Resources

Send Us a Message

Lets's Get Started

Pay Online

Austin

Dallas

Plano