Going through a divorce is already difficult enough even if you have an amicable split with a mediator instead of a contentious and draw-out parting. Unfortunately, sometimes your spouse may have a direct hand in making things harder than they need to be. This is the...
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Property Division
What records may help you keep your business in divorce?
As a business owner, you know that divorce could pose a threat to your business. If your spouse is a part owner of your company or has a claim to some of your business value, you may have to sell your business to produce proceeds for your spouse. Still, you might...
Home appraisals may help people divide their house
Dividing the family home in a divorce may quickly become a contentious issue. According to FindLaw, Texas is a community property state. The property that people accumulate during the marriage legally belongs to both of them. When the marriage ends, people have to...
Can you keep your full 401(k) in your divorce?
Past posts on this blog touched upon that the fact that your 401(k) account becomes subject to property division during your divorce proceedings in Texas. You likely thought that the only impact your divorce would have on your retirement would be who you might spend...
Commingling assets and property division issues
There are many things that can complicate the process of property division in a divorce. At the top of the list is commingling assets. Since Texas is a community property state, the law clearly draws a line between marital and separate property. However, it is...
Will property division be 50/50?
Texas is a community property state. There are only a small number of community property states in the U.S. Most states are equitable distribution states. The difference between the two is in the division of property and if it is fair or equal. According to Business...
How joint ownership can affect property division
In Texas, marriage is not only the joining of you and your partner but also the joining of all your possessions. Because it is a community property state, how the law divides your finances, assets and personal property is different from equitable division states. Here...
Protecting retirement savings with a QDRO
Regardless of a person's age when getting divorced, losing a big chunk of his or her retirement savings can be a hard pill to swallow. Some losses may be unavoidable, such as when the couple agrees to split one spouse's 401K account. Other losses, however, may be...
How is credit card debt divided?
Property division in a divorce is not just for assets. The court will also expect you to divide your debts, including credit card debt. Forbes explains the issue with the court dividing your debts or you and your spouse reaching an agreement about debt division is...
Property division and co-owned business interests
If you or your spouse has acquired an interest in a business during your marriage, you will now have to divide it as part of your marital property in the divorce. After the professional appraisal, which should reveal the fair market value, you will have a better idea...