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?...
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...
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...
Texas couples who decide to divorce already have a lot on your plates. But when you start dealing with property division, the situation can get even trickier. Tensions and tempers run high, and sometimes, a spouse may try to hide assets from you. But if your spouse...
There are many hardships that people in Texas go through during their lives. This is true for people’s marriages as well and couples need to work through many difficulties throughout a marriage. However, for many different reasons the difficulties can become too much....
This blog recently discussed some of the challenges around dividing a family business during divorce. It can be helpful to couples going through the challenges of dividing a family-owned business to take a little closer look at the different options available, and...
When a Houston area couple gets married, they often assume their marriage will last forever. Although this is the case for some couples, many more result in a divorce. Property division in a divorce is one of the most complicated aspects of a divorce, and when there...
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