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...
Property Division
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...
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...
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...
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...
Ways of dealing with a co-run business in a divorce
Figuring out what to do with a business in a divorce can be a complex task under any circumstances. It can be especially challenging when the two co-spouses co-ran the business prior to the divorce. There are multiple ways a business that now-divorcing spouses...
Asset details matter in divorce
In a divorce, ignorance is generally far from bliss. Failing to pay attention to even seemingly small details could have significant and long-lasting ramifications for a divorcing individual. Among the things that it is particularly important to pay close...
Special considerations regarding dividing retirement accounts
Retirement accounts are complex assets that have detailed rules associated with them. Given this, these assets can raise some special issues when it comes to dividing them in a divorce.For example, there are certain types of conduct regarding retirement accounts that...
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...
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...