Everyone knows that property gets divided in a divorce. Buy how? What is the outcome based upon?
In a Texas Divorce, the Judge is obligated to make a “just and right equitable division” of the community estate. The Judge is supposed to do what is fair, considering the facts. But what facts can the Judge consider?
Here are a few:
- The age of the parties;
- The health of the parties;
- The needs of the parties;
- The income of the parties;
- The earning capacity and opportunities for future wealth and income of the parties;
- The separate estate of each party;
- The debts and liabilities of the parties;
- The custody of any children of the marriage;
- Any adultery committed during the marriage; and
- Any cruelty by either party to the marriage.
What is interesting about many of these factors is the way that they can cut either way. For example, a significantly older spouse can argue, “I need more of the estate, because I don’t have many more years to earn.” With the same set of facts, the younger spouse can argue to the older, “You don’t need as much money as I do, because you are not going to have as many years of life left that you need to pay for.”
Property division can be tough in a divorce. Knowing what facts matter can help you help your attorney.