Mark Scroggins 0:06
Hey folks, Mark Scroggins with Scroggins Law Group back here to answer a bunch of q&a that we get from a lot of people aside from just in the Reclamation Transformation. So one thing here comes to disclaimer, anything that I answer in response to these questions, because it’s not create an attorney client relationship between me and anybody out there, or SLG, collectively, that’s Scroggins Law Group, and anybody out there either these are merely being answers to questions that are things you need to know, before you go in and talk to a lawyer about whatever family law issue you have.
Okay, so with that, let’s get started on our questions today. Number one, what does it mean that Texas is a community property state, so most people think that that means that everything’s divided 50/50. That’s not what it means. It means that you and your spouse each have a 100%, undivided interest in every asset and every debt that you own, whether it’s in your name, her name, or both of your names. It’s irrelevant if it’s acquired during the pendency of the marriage, it’s community property and subject to division.
Now, are there exceptions to that? Of course there are, a court can’t divide what is called separate property and separate property is anything that you own prior to marriage, any gift that you’ve ever received, anything that you’ve received via inheritance or device, or if you’ve ever had a personal injury settlement that is just related to pain and suffering, okay? Those are separate property can’t be divided by the court. Where that also will come into play is when you deal with what is called Personal goodwill, in certain other situations. So that gets really complex, not something I’m going to answer here. Talk to your lawyer about that. They can walk you through that.
