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?… Continue Reading
I was asked recently about whether becoming a partner in a professional company creates community or separate property. The Husband worked for a firm prior to marriage and shortly before the marriage was offered a partnership interest in the firm. He and the firm signed the partnership agreement a few months prior to the marriage. After the marriage, he began receiving the benefits of the partnership agreement. Now, he and his wife are headed for divorce and he wonders if she is going to be entitled to part of his partnership interest.… Continue Reading
Another complex issue that can arise in family law cases involves the characterization of trust distributions received by a spouse during the marriage.… Continue Reading
The Dallas Court of Appeals recently decided a case regarding the provisions of a retirement award and entry of a QDRO. In that case, husband worked for his employer for 20 years, all of which occurred during the marriage.… Continue Reading
In a divorce in Texas, property division can be quite complicated when you have an estate the size of the Aldrins as well as the length of their 23 year marriage.… Continue Reading
Texas is a community property state. This means that any property acquired during marriage is presumed to be community property and is thus divisible by a Court.… Continue Reading
While the Texas Family Code provides the frame work for dividing property in a divorce, it is silent when it comes to dividing joint assets of unmarried people.… Continue Reading
Property distribution in divorce is difficult even in simple estates, but complications abound for those with more complex mixes of assets.… Continue Reading
It is standard procedure in a contested Texas divorce for spouses to each be required to file a sworn disclosure of the assets and debts, including financial accounts, of the marriage.… Continue Reading
So, it would seem that this case opens the possibility for a family pet to be considered as more than just an item of personal property...… Continue Reading
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
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
In most states the assets owned by an individual going through a divorce must be valued. This includes a business that one spouse may own. The value of the business may include both tangible assets and intangible assets. The majority of the value of the intangible assets may be related to "goodwill".… Continue Reading
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
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
