Whenever a marriage comes to an end, all sorts of family law issues may arise for both parties. Those with kids may encounter a number of stress-inducing legal issues, such as disagreement concerning the way in which custody should be divided, as well as child support. However, people who have a high net worth may have a particularly complex divorce, especially when it comes to the division of marital property. If you have considerable investments, you may be worried about what will happen to these assets in the wake of your divorce, and it is pivotal to prepare.
In Texas, a family court judge will consider all possessions acquired by a couple during the union as marital property. As in any other state, marital property in Texas is subject to division in a divorce. However, Texas is one of the few states that recognizes community property laws. Per community property laws, a judge must divide all marital property and income equally upon divorce or death, whereas in equitable distribution states, a judge will divvy up property in a way he or she considers fair. That said, is there property that is exempt from Texas's marital property laws? FindLaw says yes.