What are marital assets?

Marital assets are any assets that were acquired by either spouse during marriage. In Texas, marital assets are divided in a process called “equitable distribution,” in which the court divides the assets in a manner that is most fair for both parties. This does not necessarily mean an equal division- assets are distributed based on several factors, such as the duration of the marriage, the earning capacity of each spouse, and the future needs of the parties. Marital assets may include anything acquired during marriage, such as property, cars, personal property, jewelry, bank accounts, retirement accounts, and businesses. Any asset or debt that was acquired prior to marriage is generally not considered a marital asset. Separate property is not subject to equitable distribution. This allows spouses to keep their own assets without having to split them. Marital assets are important to consider when filing for divorce or a legal separation in Texas. It is best to consult with a family law attorney to determine which assets are subject to the equitable distribution process.

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