Role of the Court in Austin Asset Division

When it comes to dividing marital assets during divorce proceedings, the judge overseeing the case has discretion. Judges are empowered to determine what is just and right, which ultimately leads to the final decision on how marital property is divided.

The role of the court, when the parties are not able to amicably reach an agreement outside of court, in Austin’s asset division is substantial, but there are some limitations under which a judge must work. If you have the support of a compassionate property division attorney, you could protect your rights and ensure you are treated fairly throughout this process.

The Nature of Community Property

Texas is one of only a few “community property” states in the country. A judge will generally consider the parties to own an equal share. Of course, this process is usually more complicated than splitting everything down the middle.

For starters, not all property is subject to division. Marital property—which is generally the income and assets accumulated after the marriage—must be divided during a divorce, but individual property owned entirely by one spouse does not.

Community property usually includes anything purchased or earned during the union, outside of specific exceptions like personal injury settlements, inheritance, and certain disability benefits.

Courts in Austin can have a significant impact on the asset division process, making it vital to have the support of legal counsel. The right attorney could make a strong case for a fair split of the marital property.

Liquidating Assets

One of the ways that the courts may become heavily involved in asset division in an Austin divorce case is when there are individual pieces of property that make up a large portion of a couple’s shared wealth. The most common example of this is the marital home.

When it is impossible to divide the property in an even way, the judge may have no choice but to order some of the property sold. Through liquidation, the parties can easily split the proceeds evenly.

Spousal Agreements Can Override the Law

Although the courts have considerable leeway in these cases, prior contractual agreements can give the parties involved more influence. If the spouses signed a premarital agreement, often referred to as a “prenup,” the terms generally override what the law requires. Instead of having flexibility in how the estate is shared, the spouses are required to comply with the terms of the document.

Not every pre- or postnuptial agreement is valid under the law, and there are options for challenging them during divorce proceedings. However, they frequently have an oversized impact on how property is split up between divorcing spouses in Austin. Given the impact they can have, it is crucial to seek out legal counsel immediately to learn more about these options.

Learn More About the Role of the Court from an Austin Asset Division Attorney

If you are going through a divorce, it is helpful to understand the role of the court in Austin asset division cases. With the support of dedicated legal counsel, you can protect your rights and ensure fair treatment. Reach out today for a private consultation to learn more.