Retirement accounts, such as 401(k)s, IRAs and pensions, often form part of the assets subject to property division in a divorce. However, these assets are difficult to divide because of their complex nature and possible implications. Accordingly, having a basic idea...
Dividing property accumulated during a marriage can be one of the most challenging aspects of divorce. In Texas, property division follows specific guidelines aimed at ensuring a fair split between the spouses. Understanding these laws when facing a divorce can help...
Property division becomes more challenging when you and your spouse own a business or business shares. The most logical thing to do would be to buy out your spouse so you can maintain ownership. But first, you must know how much you will pay your ex to keep the...
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...
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