The Basics of Texas Marital Property Law and Retirement
Dividing retirement accounts in a divorce can be complicated. If you want to protect your retirement or believe you are entitled to some of your spouse’s plan, understanding the details of your case and how the law handles questions of ownership is essential. Texas is a community property state. This means that all property divided in a divorce is presumed to fall under the characterization of ‘community property.’ However, some assets may still be categorized as ‘separate property.’ In the context of retirement assets, the value of accounts acquired before the marriage is generally separate property, and the additional value obtained during the marriage is usually community property. These situations may seem straightforward, but as many people know, when money is involved, simple issues can become complex pretty quickly.