Dictionaries generally define “bank” as a financial establishment for the deposit, loan, exchange, or issue of money and for the transmission of funds. In contrast, “broker” is defined as an agent who acts as an intermediary or negotiator, especially between prospective buyers and sellers; a person employed to make bargains and contracts between other persons in matters of trade, commerce, or navigation. According to the Houston Court, these definitions illustrate that banks and brokers are distinguishable, particularly with respect to the scope of their respective services; banks tend to offer a broader spectrum of financial services than brokerage firms.
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Undisclosed assets after divorce
What happens if, after the divorce is final, a party discovers that the other party failed to disclose certain assets in the divorce proceedings?
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Reimbursement for using inheritance on community obligations
What happens when a spouse contributes or loans separate property to the community estate during marriage, then seeks reimbursement of those contributions/loans at divorce?
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A prenuptial agreement without the wedding?
Out of the more than 12 million unmarried couples living under the same roof in America, many of them are choosing to sign a pre-nup-like agreement in lieu of a marriage license. Apparently, this is the latest legal trend aimed at protecting singles and their assets.
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IRS Forms and Information Resources
IRS Forms and Information Resources: This should be useful information for anyone going through a divorce, considering starting a divorce, staring at an impending divorce or recovering from a divorce.
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Avoiding Financial Disaster in Divorce
Many people face financial uncertainty when they divorce in Texas. Often, this stems from taking the same amount of income that was previously being used to fund one household and splitting it up to cover two househoulds, including two house payments,…
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Can the Divorce Judge Make Me Turn Over My Business’ Cash to My Spouse?
A Dallas Divorce client raised an important question this week. She owns a small professional practice that is an S-corporation. Her business has some cash flow that allows her to pay the business expenses and payroll, but not much extra. Her husband requested the Dallas Divorce Judge to make the wife turn over the cash she presently had in her business to help pay the husband’s marital debts.
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File Breach of Contract Suit In Any District Court
Houston Court of Appeals holds that any district court has jurisdiction to hear breach of contract actions based on provisions in a divorce decree.
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No Debtors Prison for Failing to Make Car Payment
A new case out of the Tyler Court of Appeals hold that a contempt order ordering imprisonment for failure to make car payments required by a divorce decree is void as imprisonment for debt. Also, the court holds that a contempt order may not be used to make substantive changes to divorce decree.
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Economic Contribution Statute Repealed Hooray!
The Texas Legislature repealed the economic contribution statute, which has been a bane to Texas Family Law Attorneys since it was originally passed. Instead, Senate Bill 866 replaces economic contribution with a system of reimbursement and offset based on equitable principles. Further, it clarifies that the party seeking the offset has the burden of proof.
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