Archives: Division of Property

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Debt in Divorce

A debt incurred by a spouse during the marriage is presumed to be a community property debt. A debt incurred before the marriage is presumed to be separate property debt. If a debt is incurred during the marriage, but the creditor agreed to look solely to the separate property of the spouse for satisfaction of the debt, then the debt may be a separate property debt. Characterization of the debt as in the nature of community property does not determine the question of liability.… Continue Reading

Divorce and the Small Business Owner

Deborah L. Cohen writes for Reuters about Divorce and the impact on small businesses. Ms. Cohen points out that when small business owners go through a divorce, their attention is distracted from their business, causing financial impact on the business which may already be distressed due to the downturn in the economy.… Continue Reading

Converting Separate Property to Community Property in Divorce

In any Dallas Texas divorce proceeding, the issue of how to divide assets and debts must be resolved. Not every asset is obviously "separate" or obviously of the "community." Basically, community property will be divided between the spouses because it is marital property. Separate property will not be divided because it is not marital property. The challenge is in characterizing each item, one at a time.… Continue Reading

Prenups on the Rise

CNBC says prenups are on the rise... and Dallas Texas family law attorneys agree. A whopping 73 percent of divorce attorneys say they've seen an increase in the pre-marital documents, according to a recent survey by the American Academy of Matrimonial Lawyers. What's more, 52 percent of them said they've seen an increase in women initiating the requests.… Continue Reading
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