From child custody, child support, spousal support and property division, divorce comes with multiple components. And pretty much each of these components can be heavily contested. According to Texas’ property division laws, any property or debt acquired by either...
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Property Division
Community property state – What does it mean?
Property division is crucial in a divorce. You want to protect your assets while being fair to your spouse. Texas is a community property state, which means, in most cases, property or money obtained during a marriage belongs to both spouses. Thus, anything garnered...
Got a lot to divide in a divorce? Avoid these mistakes
Have you ever heard the phrase, “more money, more problems?” It’s an acknowledgment that the more you have to lose, the harder it can be to protect what’s rightfully yours. This is particularly true when you’re going through a high asset divorce. The more that a...
Should you close a joint bank account during a divorce?
If you get a divorce, one piece of advice that people will sometimes give you is to close your bank account. They may tell you that you want to make sure that your spouse doesn’t empty that account and take all of your money, for example. It also may simply be a...
Is your spouse hiding digital assets?
Have you ever heard of cryptocurrency or non-fungible tokens (NFT)? These are both forms of digital investments that’s grown over the years. Many people invested in cryptocurrency and NFTs early on and now they’re reaping the rewards. Even though cryptocurrency and...
Will I lose half of my inheritance if I divorce?
Property division can cause a lot of stress during a divorce. You know you cannot keep everything, but you do not want to give away more than you need to. Money is hard to come by, after all. One area that can generate concern is any inheritance you receive. You know...
Who gets to keep the dog when you divorce?
Texas has laws that govern most aspects of modern divorce. Couples can follow state law to divide their property and to split responsibilities for the children that they share, or they can litigate. However, there are no specific state laws discussing what happens to...
Don’t forget to discuss the country club in your divorce
Texas is a community property state, so just about everything a couple acquires after their marriage begins is subject to a 50/50 split. That’s easier said than done, however, when it comes to certain assets – like membership in a country club. How do you value – or...
How does Texas split property in a divorce?
Each state treats the property of married couples in different ways. Texas is a community property state. That means that when you marry, the two of you become one, so almost everything you earn or acquire from that point forward belongs to you both. Some assets you...
Is it possible to divide an online business in divorce?
For the past several years, couples have witnessed the growth in popularity of digital assets. From entertainment collections to online consumer rewards, a married couple can amass valuable assets that have no physical counterpart. Unfortunately, when divorce becomes...