Chapter 3 of the Texas Family Code notes that the portion of a spouse’s employer-provided retirement plan or stock options earned before marriage classify as separate property. The separate portion of a retirement plan, for example, includes financial contributions...
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Property Division
What is the difference between marital and separate property?
Property division is one of the most challenging aspects of divorce. According to Kiplinger, this process involves deciding what is marital property and what is separately owned. While it seems relatively cut and dried, many couples have intermingled finances. This is...
What may make the property division process go more smoothly?
A Texas divorce might become quarrelsome; both spouses have a right to half of the couple's marital properties. As noted by Bankrate.com, assets and debts acquired by either spouse during marriage classify as community property. To divide your assets in half during a...
Challenges associated with dividing cryptocurrency in a divorce
When you and your Texas spouse decide to divorce and one of you owns cryptocurrency, you may need to figure out how to divide it in a way that appeases both parties and results in a fair split. Because cryptocurrency is relatively new, there is not much of a precedent...
Is your spouse trying to hide assets?
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...
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...