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...
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Property Division
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...
What can you expect in the property division stage of a divorce?
Anyone in Texas who knows a family member or friend who has been through a divorce knows that the process can be quite difficult sometimes. Even when a divorcing couple is amicable enough to agree on many of the issues that need to be addressed in the legal process,...
Is a prenuptial agreement in Texas a good idea?
When a Texas couple gets engaged they are typically excited and full of happy thoughts about their future spouse and their future. These are exciting times for a couple filled with wedding planning, dress shopping, vendor interviews, etc. But couples should also think...
Divorce and financial assets: Consider the following
When it comes to property division, every asset deserves your full attention. However, it goes without saying that some are more valuable than others.Your financial assets have the potential to be among the most valuable, especially if you're in the latter stages of...