There are many factors to consider when dividing business assets in a divorce, one of which is goodwill. Despite being an intangible asset, goodwill is part of the valuation process when determining the fair distribution of marital property. If you have a business to...
Separate property belongs to the individual who owned it before the marriage. The American Bar Association notes that separate nonmarital property may also include assets acquired by only one spouse during a marriage. Nonmarital property could include gifts,...
Texas is a community property state, but the division of marital property in your divorce will not necessarily be a 50-50 split. What factors will the court consider when determining how to divide your property? About community property Texas is one of nine states...
College savings plans give families a tax-free, interest-bearing option to save for their child’s higher education. However, divorcing spouses might overlook these savings accounts when dividing assets. Why are 529 plans different than other assets in a divorce?...
When you own a home with your spouse in Texas and the two of you decide to split, you need to figure out what to do with any home equity you have amassed since purchasing the property. There are a number of ways you might do this. The option that may benefit you most...
It may be easy to assume that you know what to expect as you enter into your divorce proceedings in Texas. Yet as many of our past clients here at Terry L. Hart, Attorney at Law may attest to, there will almost inevitably be a few surprises that arise. One of these is...
You started a business after marrying your current spouse. With the two of you divorcing, do you or your soon-to-be-former-spouse have the right to sell the company right now? Chron describes scenarios and options for handling a spouse selling a business during...
Property division in a divorce in Texas occurs using the concept of community property, which is different from most other states. It can make for some complex situations as you try to divide your assets. According to the Texas Constitution and Statutes, the court...
Without proper planning, a Texas divorce may end with two spouses dividing all of their assets in half, which includes stocks or ownership interests in a company. A business started during a marriage generally becomes community property unless a written and signed...
Divorce can be an exciting, confusing, emotionally turbulent time in your life. From determining child support and child custody to dividing assets and debt responsibility, you will face numerous challenges while separating one household into two futures. There are...
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