Category Archives: Property Division
Property Division: Debunking Three Common Myths About Community Property In Texas
Texas is one of nine community property states. Community property is a legal standard that holds that all property acquired by either spouse during the course of the marriage is collectively owned by both partners. The community property standard has major implications for a divorce. There are many misconceptions about how this standard actually… Read More »
Divorce Law: What Is A Community Property State?
Untangling your finances and dividing property is one of the most challenging aspects of the divorce process. If you get divorced in Texas, your assets and liabilities will be divided under the state’s community property standard. Texas is one of a minority of U.S. jurisdictions that uses a community property standard instead of an… Read More »
Six Tips For Reaching A Property Settlement In A Divorce In Texas
Property division can be a highly contentious issue in a divorce. If litigation is required, a court will split a couple’s marital property under our state’s community property statute (Texas Family Code § 3.002). Though, as litigation can be time-consuming and costly, most divorcing couples strongly prefer to reach their own settlement. A settlement… Read More »
Answering Six Frequently Asked Questions About Property Division In Texas
For divorcing couples in Texas, dividing property and assets can be challenging. It is not uncommon for property division to be the single most contentious issue in a marital separation. If you are preparing for a divorce, it is imperative that you know your rights and responsibilities under Texas law. Here, our Galveston County… Read More »
Top Five Property Division Factors in Texas
The Lone Star State is a community property jurisdiction. But in Texas, the 50-50 community property split is only a presumption. Instead, state law requires that the marital estate, including both debts and assets, be distributed in a “just and right” matter. So, in many respects, Texas is more like one of the many… Read More »
Can Your Spouse Take Half of Your Trust Fund?
Going through a divorce is never an easy process, but if you have an inheritance or trust fund, you may be worried if it will be subject to division during your divorce settlement. While each situation is different, there are a few rules that might help you determine if your trust fund or inheritance… Read More »
My Spouse Is Hiding Assets. How Will That Affect My Divorce Settlement?
During divorce proceedings it is important to obtain an accurate valuation of all marital assets and property so that a fair property settlement can be made. Unfortunately, in some divorce cases, particularly those that involve complex or high-stakes marital estates, one of the spouses may believe that the other is hiding assets to shortchange… Read More »
How to Manage Maxed Out Credit Cards in a Divorce
In 2016, the average amount of credit card debt carried by each household in the United States was approximately $16,883, according to Nerdwallet. This means many couples going through a divorce are going to have to address the important issue of how to divide their debt obligations. Community Property Standard Typically Means Equitable Division… Read More »
Understanding How Divorce Affects Your Retirement Assets
Many people who get divorced would prefer to put the entire episode behind them and start anew. A divorce does indeed represent a new beginning, but there are certain aspects of your life where you may always be reminded of the divorce. One of those aspects is your finances. There is an expectation that… Read More »
Fighting Over Your Furry Friend in Divorce
Most people associate bitter custody disputes and arguments over which parent will be awarded full custody of a child, or children. However, in some cases, divorcing couples will get into similarly heated arguments over custody of a pet such as a dog, cat, turtle, etc. This is understandable since, to many people, pets are… Read More »
