Just and Right Division in Austin High-Asset Divorces

In a high-asset divorce, a just and right division can be especially important for both spouses. While Texas is a community property state, it provides an opportunity for a just and right division instead of the strict 50/50 approach. This can have both advantages and disadvantages for each spouse.

Understanding how a just and right division in Austin high-asset divorces works can help you make an educated legal decision. By choosing to work with a high-net-worth divorce attorney, you can increase your chances of securing a fair result.

What Is Just and Right Division?

Texas family courts consider what is “just and right” when dividing community property. This means that although the starting point could be a 50/50 division, the court has discretion to adjust that split based on the circumstances.

A just and right division of assets during divorce means the fair division of marital assets when a couple divorces. Unlike a strict 50/50 split, this system considers several factors, such as each spouse’s:

• Earning potential: Evaluates future income opportunities and financial independence of each spouse after the divorce
• Financial contributions to the marriage: Considers income earned, assets acquired, and financial support provided by each spouse during the marriage
• Needs after divorce: Takes into account ongoing financial requirements like housing and healthcare (if children are involved, they must also be considered)

The goal is to reach a reasonable division under the circumstances. For example, if one spouse gave up a career to manage the household, a just and right distribution allows Austin courts to compensate them for these non-financial contributions.

The just and fair division policy only applies to marital property. If a spouse acquired assets through gifts or inheritance, they may not be divided during a divorce. However, in some high-asset divorces, even separate property can be subject to division in the divorce. An experienced attorney can help identify those circumstances and protect each spouse’s rights.

Texas as a Community Property State

Although Texas is traditionally known as a community property state, it incorporates the concept of just and right division to ensure that the final resolution is reasonable for both parties based on the spouses’ individual circumstances.

For instance, if one spouse has a significantly higher earning capacity, the judge may decide that an unequal division is fair. This flexibility can work in favor of a spouse who has been financially disadvantaged during the marriage. As a result, just and right division in a community property state like Texas allows for more balance in asset distribution.

Consult an Austin Attorney About Just and Right Division in High-Asset Divorces

Just and right division in Austin high-asset divorces allows fair outcomes for both spouses. However, achieving these outcomes requires a comprehensive legal approach. With so many nuances surrounding high-asset divorces, it is easy to make the wrong legal decision, and in many cases, that can mean that you miss out on assets you would otherwise receive.

At Kimbrough Legal, PLLC, we have decades of experience handling high-asset divorces in Austin and beyond. Our legal team is here to help you navigate the divorce and achieve a fair outcome. Call us to schedule a detailed consultation today.