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What happens with student loans and other debts in divorce?

When couples divorce, people typically focus on issues like asset division and child custody. However, the division and allocation of debts can have a significant effect on the size of the property settlement you receive.  You may think that just because you didn't co-sign for a credit card, you won't be responsible. The courts in Texas, however, have a different view when it comes to financial responsibility and fair division of both assets and debts in a divorce.

Avoiding fees when dividing retirement accounts in divorce

Certain community assets are are difficult than others to accurately divide during a Texas divorce. For many couples, retirement accounts and pensions may seem straightforward. After all, these accounts have a clear balance. It's easy to determine what was deposited during the course of the marriage, as opposed to what was in the account before the marriage.

Dividing property during the divorce process

Divorce is never easy, especially when it comes time to decide who gets what. If your spouse wants the main residence, does that mean you will get the vacation house on the lake? What about the oil and gas interests the two of you invested in a few years ago, the retirement accounts, and even the furniture? In order to ensure you are getting a fair divorce settlement, it is important to understand how Texas courts divide marital property.

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