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Property Division Archives

Dividing Unusual Assets And Debts In Divorce

Many types of community assets can be easily identified and valued for the purpose of division during the divorce process. Examples of these include bank accounts, brokerage accounts, and retirement assets. This also applies to debts incurred entirely during the marriage. The treatment of other types of assets and debts can be problematic however.

Planning For Divorce Provides Many Benefits

When a marriage is headed for a breakdown, one spouse often comes to that realization sooner than the other. If you are faced with this situation, there are some simple steps you can take to protect your rights and interests. These steps can improve your position as you enter into the divorce process:

A brief look at the statutory rules for classification and division of property in Texas, P.2

In our last post, we began looking at Texas law concerning how courts in this state define community property and separate property. In addition to the rules we mentioned last time, there are special statutory rules that apply to gifts between spouses, certain types of employee benefits, and certain types of insurance proceeds.

Important property division issues: classifying property and the 50-50 presumption

We’ve previously spoken on this blog about the two general approaches used by state courts when dividing property in divorce. As we’ve noted, a small number of states use the approach known as community property, which in some states involves a presumption of 50 percent ownership of the marital estate for each party. Equitable distribution, by contrast, does not have a 50 percent ownership presumption, but seeks to award property in a way deemed fair under the circumstances.

Staying informed on financial matters when considering divorce

Going into a divorce unprepared can be unwise. Such a lack of preparation could unnecessarily further complicate the divorce process, leave a person without the right information when making divorce decisions and increase the likelihood of critical mistakes being made.

Having the right team important in high-asset divorces

High-asset divorces often raise a myriad of financial issues. The financial matters in such divorces can be deeply complex and touch on many areas. Thus, properly addressing financial issues in a high-asset divorce can often require the help of a well-constructed divorce team. 

QDROs and other issues related to retirement plans in divorce

In some cases, property division in divorce is pretty straightforward. It's clear what can be characterized as marital assets, which can then be divided fairly between the spouses.

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