Texas is a community property state, so when it comes time to divide assets following a divorce, splitting them down the middle is common. Sometimes that seems easier said than done, though, does it not?
It seems easier to join property than to separate it, don't you think? Most Texas couples who decide to tie the knot are likely excited about finally sharing the car, the house and the pets that go with it. They probably never dream of some day needing to split everything equally, just like it all was before they got married.
Although Texas is a community property state, not all property and assets are eligible for division in a divorce. It is important that couples who are filing for divorce understand the difference between separate and martial property in order to ensure they get everything they are entitled to in the divorce settlement.
If you count yourself among the many people across Texas who believe a divorce is imminent, you may find yourself consumed with emotions and a need to make some major decisions. Given how emotional the divorce process can be, you may find yourself struggling with everything it entails. However, taking several key steps now with regard to your finances can streamline the process and help you get back on your feet sooner. At Laura Dale & Associates, P.C., we understand how preparing financially for your divorce can help you in the long run, and we have helped many state residents get their finances in order and receive their fair share during divorce proceedings.
When it comes to property division, many people have questions about how their assets will be split up, such as who will get the home. However, there are other legal topics related to the end of marriage that should not be overlooked, such as marital debt. For example, debts which a spouse takes on during the course of his or her marriage may be considered community property debts. In Houston, Texas, it is paramount for anyone who is thinking about divorce or already working through one to understand how these issues may affect them from a financial standpoint.
If you reside in Texas and have reason to believe that your marriage may be nearing its end, it may be due, at least on some level, to a breakdown of trust between you and your partner. If you are already questioning your partner’s actions and motives, you may, too, have concerns about him or her attempting to hide assets from you to obtain a more favorable position in an upcoming divorce. At Laura Dale & Associates, P.C., we are well-versed in the methods spouses sometimes use to stockpile assets and conceal them from one another, and we have helped many people navigating divorces pursue their fair shares in a settlement.
Family law can bring up a number of stressors for couples who are in various situations. From same-sex marriages to high-asset divorce and those who have many children together, every case is different. For some, the way in which marital property is split up can be particularly challenging. Some people lose sleep over concerns about how the property will be divided, while others struggle with a court's decision after the fact. If you are unsure of how your property may be split up, or have questions related to the division of property during a divorce, it may be helpful to go over various facets of this issue. For example, you may want to review various examples of separate property.
Houston is a great place to build a family, a career, a home and a life. Many of our city's residents are living the American dream and hope to one day retire here. Though retirement is commonly viewed as a golden age in which couples can enjoy the fruits of their labors, it can for some people have an unintended consequence: too much time together.
Love is lovelier the second time around. So Frank Sinatra sang. Many in Texas would likely agree with the sentiment. Considering how much longer we all are living these days it also serves as a particularly hopeful statement about the chances of enjoying happiness with a significant other, no matter how old we are.
You've probably heard of the book, "Men Are from Mars, Women Are from Venus." Avid Texas readers of the appropriate age will remember that this book of the early 1990s sought to explain that many common issues in the relationships of men and women could be attributed to the fundamental psychological differences of the two sexes.