Past posts on this blog touched upon the fact that retirement accounts become subject to property division proceedings during divorce proceedings in Texas. If one was not the primary income earner in their marital home, they might find themselves in need of an...
Property Division
How does divorce affect your LLC?
As a business owner, you may worry about losing your company in a divorce. However, depending on the business structure and the other people involved, you might have a degree of protection. According to Wallet Hub, Texas tops the list of the best states to start a...
How to tell the difference between separate and marital property
Divorce is often a stressful situation, especially when it comes to separating marital property you have amassed through the years. Also referred to as community property, martial items can be difficult to divide, as you may have become attached to certain...
Will I inherit my spouse’s debt during a divorce in Texas?
Asset and debt division are topics that people commonly have questions about when going through a divorce. If your spouse currently carries a large amount of debt, for example, you may wonder if you will be responsible for some of that debt. The short answer is that...
How to handle the mortgage when you divorce
Once you take the emotional side of things away from the equation, a Texas divorce involves divvying up assets and debts so that the two of you may go your separate ways. When you and your ex own a home together and share a mortgage, it may be one of the most...
How community property laws can affect your divorce
Property division, as a result of your divorce, can adversely impact your financial situation. Texas Family Law codes determine marital property and provide guidance regarding the definition of separate property. This makes the way you present your contributions to...
How are family businesses divided during a divorce?
When it comes to divorce, family businesses are considered an asset. As a result, decisions must be made on how to divvy up a family business in a way that is fair to both spouses. This situation can be emotionally trying, especially if one spouse believes he or she...
Is your spouse hiding assets?
Divorcing Texas couples like you have a lot of hurdles to overcome. Property division is often a big one. Many heated arguments break out over who gets what. It can even drive some spouses to try hiding assets. This is a bad idea for many reasons. Not only is it...
Do I need to pay my ex’s debt after our divorce?
Married couples commonly share debts as well as assets. This logically requires that a divorcing couple determine which person may be responsible for repaying which debt after their divorce process completes. Assigning liability for joints debts may end up becoming a...
What to know about property divisions in Texas
The majority of states in the US have equitable division laws, meaning a judge weighs various factors to negotiate how a divorcing couple will split their assets if the couple cannot negotiate the divisions on their own. For the most part, this means that even if...
