Category Archives: Property Division
Are Wedding and Engagement Rings Marital Property?
According to WeddingWire, the average cost of an engagement ring is over $4,700. They determined this amount after analyzing the cost of engagement rings for 6,000 couples, according to Bustle.com. According to an Emory University study, the larger the amount spent on an engagement ring is actually associated with a higher divorce rate. The… Read More »
Uncovering Hidden Assets in Texas Divorce Cases
An accurate valuation of marital property (both assets and liabilities) is critical to ensure an equitable property settlement is reached in your divorce. Unfortunately, it is quite common to discover that a spouse has attempted to hide assets to shortchange you in the property division process. Why People Try to Hide Assets A common… Read More »
Married in Another Country Does Not Negate Texas Community Property Presumption
If you and your spouse were married in a different country and you were expecting that country’s laws to supersede Texas law, do not get your hopes up. Under Texas law, all property possessed by either spouse at the time of divorce is presumed to be “community property” (i.e. divided equitably). In 2015, a… Read More »
Asset Division and Protection in Trust
When divorce proceedings begin, each couple must evaluate what assets and property are includable to be divided, as well as whether it is considered community property or separate property. In a separate post, we explained the differences between separate and community property based on state law. Since Texas is a community property state, the… Read More »
Community Property Laws
Property that is acquired during marriage is either considered marital property or community property, depending on the state in which you reside. Currently, there are nine states that enforce community property regulations: Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington, and Wisconsin. The remaining 41 other states classify property acquired during a marriage… Read More »
Your Former Spouse’s Rights to Social Security Disability
When your marriage dissolves, you are still entitled to a number of different benefits, depending on a number of factors. We recently wrote about one benefit you must change in order for your former spouse to not inherit when you die, which was changing the beneficiary of your life insurance policy. Another benefit that… Read More »
The Division Of Digital Assets In A Houston Divorce
Many Houston couples in the midst of a divorce are aware that marital property like homes, stocks, and money will be subject to property division. In addition to these tangible objects, however, many divorcing couples also own digital assets with significant value that should also be considered at the time of divorce. These digital… Read More »
The Effect Of Divorce On Jointly Owned Businesses In Houston
A number of businesses are jointly owned and operated by husbands and wives. During a divorce, however, couples who might have spent years together building a company can find themselves forced to divide the same company. Sometimes this division of property proceeds with few arguments between a couple, but other times parties argue over… Read More »
How to Keep Separate Marital Property Separate in a Texas Divorce
If a Court determines an asset is your separate property, you keep it without any sharing or interference by your spouse and is not subject to division. Any property owned prior to marriage or that is inherited or received by gift during marriage is separate property. Any mutations of separate property remain separate. Example: … Read More »
Pet Custody After A Divorce
There is another divorce issue for many couples to consider besides children, assets, and support: pets. One study estimates that almost half the households in the United States have a dog or cat. Custody issues involving pets can provide much friction between divorcing spouses. Although courts in Texas have remained relatively silent on determining… Read More »
