Legal Question in Family Law in Texas
Are assets divided based on legal day of separation or day of divorce?
I was forced to leave my home (restraining order) and on the day of the hearing, I agreed to cooporate in a non-contested divorce. The negotiations have dragged on and I've filed a counter-petition for divorce to accellerate this matter. Since I am legally separated will the value of the assests be based on the day of separation or will they be based on the day of the final hearing?
2 Answers from Attorneys
Date for asset valuation
Date of hearing - mere separation does not dissolve the community estate. The rule is different in at least one other community property jurisdiction - California, I believe, but I'm not sure.
Asset valuation
The court wants to know the value of the asset at the hearing. Also know that if you buy something like a car on the day before the hearing, it is community property and subject to division as well. Still, these are courts of equity (believe it or not) and judges will chop up assets as they see fit. This could mean cutting the baby in half (don't take this literally)
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