CHEAP TEXAS DIVORCE - PROPERTY SETTLEMENT

CHEAP TEXAS DIVORCE

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Uncontested Divorce in TEXAS

TEXAS IS A COMMUNITY PROPERTY STATE

When dividing property you must first decide what asset or debt is community and what is separate property.  Next you must decide what the property is worth or what is the balance of the debt owed. Finally, you must decide which party is to receive the asset and/or debt.

SEPARATE VS COMMUNITY DEBT

It does not matter whose name the asset or debgt is in. Everything either party owns or owes is presumed by law to be part of the community estate unless a party can prove otherwise.

Separate property is:

• Anything owned before marriage and the appreciation or increase in value of that property
• Inheritances or gifts (from others or from a spouse)
• Personal injury damage awards (except for loss of earnings)
• Property exchanged for other separate property

Community property is:

• All property other than separate property acquired by either spouse during marriage (including wages)
• Income, rent, or interest earned on separate property

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Agreeing to all of these things can be very hard, especially when you have children.  When couples can agree, it saves on legal expenses and can make the case go much more quickly. If you believe that you and your spouse have an agreement on everything above, then an uncontested Texas divorce may be for you. These types of divorces are the cheapest way to become divorced and the least stressful.

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Whether a couple chooses to go it alone or chooses to hire an online DYI divorce service, the secret to keeping your money in your pocket and out of the hands of lawyers is to come up with a plan together and work out your differences by agreement.

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