What Factors Play Into Dividing Community Property? | Property Division
Life continues to change long after a divorce is final, and, in some cases, these circumstances could necessitate a change to an existing divorce order. In Texas, there may be some aspects of your divorce order that are eligible for modification, but it is critical to have the assistance of an experienced attorney when seeking these changes.
Even if you have valid grounds for a modification, it is not always easy to secure it. While a property division agreement is not reversible, with experienced legal guidance, you may be able to secure an adjustment to your child support or custody and visitation order.
Size of the estate
If the divorcing couple has an estate with a considerable valuation, the chances for a more evenly-split outcome could increase. A judge may view the sizable estate as means for each party involved having a chance at financial success even after the divorce. Therefore, the ruling may rely more on ensuring that the property division leaves each individual with a close-to-equal share.
Being the caretaker of children often comes with a higher financial burden than for those without children or who do not have custody. As a result, if you gain primary custody of your children, you may be entitled to a greater share of the assets. Children may benefit from such a ruling by having a greater chance of having their needs met.
Even your age has potential for factoring into property division outcomes. If a considerable disparity exists between your age and your spouse’s age, a judge may view that difference as reason to award one individual more or fewer assets. For example, if one individual’s age deems him or her as having a closer retirement time, retirement funds and other related benefits may get closer consideration.
Your ability to generate an income falls under your earning capacity. If you have a disability, have been out of the workforce, are close to retirement or facing another factor that could impact your ability to earn a living, you may be entitled to a greater portion of the marital assets. Determining this capacity could, in some cases, be subjective.
Of course, each of these factors could also depend on the specific nature of your particular circumstances, and other aspects could influence decisions as well. Therefore, you may wish to discuss your case with an experienced divorce attorney who could assist you in working toward the property division outcomes you desire. With this help, you may find yourself looking into legal avenues and strategies that otherwise might not have crossed your mind, which could make a difference in the results.