In a Texas divorce, the court is required to divide the property in a “just and right” manner. The court is not required to divide the property equally but must divide it equitably. It may order a disproportionate division if it has a reasonable basis to do so. There are a number of factors a trial court may consider in dividing the community estate. Those factors include the nature of the property, income disparity, business opportunities, relative financial conditions and obligations, education, physical condition, age, fault in the break-up, the benefit the innocent spouse would have received if the marriage continued, the size of the separate estates, and a probable need for future support.
The husband in a recent case challenged the disproportionate division of property in favor of the wife. The wife filed for divorce after finding escort and dating websites on her husband’s phone and home computer. She ultimately requested a disproportionate division of the property, arguing the husband was at fault in the breakup, wasted community assets, gifted community assets, and committed actual or constructive fraud.
The parties had a variety of financial and investment accounts. The wife said her husband managed her separate property investment accounts, and she did not have information about them. She also testified that he provided her with a statement purportedly identifying all of the accounts. That statement included $60,000 in company stock of his former employer. A 1099 indicated the husband sold 6,000 shares of the stock for $1,200 in September 2015. He testified he was “given” 6,000 shares when he started working there, but he had to pay $1,200. He further testified that the company required him to sell the stock back for the purchase price when he left the company. He said he did not update the information on the statement after selling the stock.