Community Property

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Marriage makes two individuals become one. During the whole period of marriage, couples acquire properties which most of the time are jointly owned. Problems may arise when a couple decides to get divorced. Division of a marital home could get difficult. Separation of assets might lead into conflict and we might not properly exercise our rights over our properties if we do not know the laws that govern it. To understand better the context of property relations between the husband and wife in Texas, let us have an overview of the governing laws in marriage and properties. The State of […]

How to Divide a Marital Home in a Texas Divorce   Recently updated !

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During the course of the marriage, the possibility of not disclosing all one’s asset is likely. The question now is: what happens if a one of the spouses finds out that their ex-spouse failed to disclose assets that were available to them during a divorce and the divorce has already been finalized?  Emotionally, of course the party who found out about the undisclosed assets would be upset and would demand for their share of such undisclosed asset. A suit should be filed regarding this matter to the court that finalized the divorce since the same retained jurisdiction over the matter. […]

Dealing with Undisclosed Assets in a Texas Divorce   Recently updated !

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Many of the divorce cases nowadays are caused by financial issues. It doesn’t come as a surprise when after post-divorce couples fall behind mortgage and face foreclosure. Foreclosure is enough of a headache as it is. When it is complicated by issues pertinent to divorce, it can be more difficult to manage. When a couple gets a divorce, it is not an uncommon move to transfer the interest for the house to the other spouse. Usually, they do this thinking that this will place the responsibility for the mortgage completely on the other spouse. However, it just doesn’t work that […]

Divorcing Your Mortgage

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If you and your partner has come to an unlikely divorce, division of properties, assets, and other possessions might be something you have to talk about sooner rather than later. Likewise, your communal retirement plans fall under the category of properties that have to be divided between both parties in case of separation or divorce. In light of Texas Law, retirement plans act as an indirect compensation to the spouse, which he or she earned during the course of their marriage. However, it is a case-to-case basis, because there are instances where the retirement plan does not act as shared […]

Different Ways to Divide Your Retirement Plan in Your Divorce

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Going through divorce also affects the family business. This type of family business could be a small or big business, likely having most of the family members as the shareholders or partners, or it could be a practice of profession or a retail store such as a shop or restaurant. What makes dealing with the business while going through divorce is the fact that most of the time, the family business is also the family’s main source of income. In this article, we will briefly discuss the three basic methods of dealing with the business while in the process of […]

What Happens to Our Family Business After Divorce?

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In divorce, a lot of marital issues such as child support and custody, property division and alimony, must need to be resolved before a court issues a divorce decree. Just like any other properties, pension benefits can be divided between the spouses. There are several different factors which determines whether a spouse’s pension can be split and by how much it will be divided. These factors include the time the pension was first acquired and its balance prior to the marriage and after the marriage. Texas as a Community Property State In the United States, there are nine community property […]

What Happens to my Pension After Divorce?