Sometimes a potential client has a case and there is no grand story with dramatic facts. No one has cheated and there is no abuse, there are just two people who have grown apart and do not want to be married anymore. Often they have already physically separated and divided up the property in a
In today’s interconnected world, our lives are intertwined with digital assets, ranging from social media profiles to cryptocurrencies and online accounts. However, these intangible resources often become a tangible concern when it comes to divorce proceedings in Texas.
Digital assets encompass a wide array of virtual possessions, including but not limited to: Cryptocurrencies such as
Texas is a community property state, which means that any property or debt acquired during the marriage is generally considered community property, and both spouses share an equal interest in it. However, it’s important to note that not all debts are divided equally during divorce. Instead, Texas courts aim for a just and right division
Divorce proceedings can often lead to contentious battles over asset division. For the most part, parties go through the process and play by the rules. But every now and then, some individuals attempt to hide assets to gain an unfair advantage. This week we’ll talk about the potential consequences of such behavior and why you
When it comes to the topic of divorce people’s first thoughts often go to things like: How will it effect the children? Who will get the house and the cars? How much am I going to have to pay in child and/or spousal support? Will I have to part with half of my stock portfolio?
We’ve all heard the Kanye West lyric “If you ain’t no punk, holla we want prenup!” But what was he talking about and why was it important to the song? Prenuptial (also known as premarital) agreements are contracts that are entered into by future spouses before they are wed. The reasons a couple may to
These days more and more people are beginning to see and treat their pets as though they are their four legged or winged children. But no matter how much you love them and treat them like family, according to the state of Texas they are property and thus an asset to be divided during a
In a Texas divorce, there are several issues that are unique to considering a business as an asset in the property division. The normal property division issues of identification, characterization, valuation, and division each have intricacies for businesses that need to be considered.
Addressing the type of entity (corporation, partnership, sole proprietorship) is important because
Our October monthly free lawyer’s continuing education presentation focused on new cases and legislation affecting Texas family law.
Here’s a link to watch the video on Facebook: https://fb.watch/8SJMhZFiJF/
Here’s the presentation with all the details: What’s New in Texas Family Law This Fall?
Here’s a link to Elisa Reiter’s excellent articles about the new legislation
Highly compensated individuals may have a laundry-list of deferred compensation awards going out over many years. Sometimes these compensation methods require negotiation transactions during a divorce that may or may not be legally permitted without full transparency. In most Texas courts, there are “standing orders” that automatically apply to every divorce that prohibit certain types of transactions. It is important to understand the marital assets in order to prevent the client from inadvertently violating one of these rules.
Continue Reading Non-cash compensation in a Texas divorce
