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Property Division Archives

Identify community property before going to divorce court

When couples in Texas consider divorce, they will probably be aware that Texas is one of the so-called community property states. It is, however, a myth that all assets of the couple will be immediately subject to a straight 50/50 division. Neither spouse will automatically be entitled to 50 percent of the combined assets of the couple, even in a community property state.

Strict rules for tax deductions for property division

For Texas couples who are going through a divorce, the desire to save money is often at the top of each spouse's priority list. As tax season approaches, many spouses may be wondering what, if any, portion of their divorce costs might be deductible. Unfortunately, the majority of one's legal bills are eligible for any form of tax relief. However, there are a couple of notable exceptions, and these should be considered during the property division process.

Property division before the Texas holidays can mean less drama

Being married during the holidays can be stressful enough when the marriage is in a good place. For those Texas residents who are staying in a marriage to get through the holidays, this time of year can be even more stressful. A recent report claims that being single through the holidays may be better than dealing with property division and other divorce matters.

Property division in Texas could include family pets

During a divorce, property division can be a challenge if the couple doesn't agree on certain items. Any Texas pet lover that is facing a divorce may find a recent article both interesting and helpful. The article discussed how animals, a dog specifically, can be included in the property division.

Property division decisions affected by home equity

For many divorcing couples in Texas, the decision-making process surrounding the end of their marriage encompasses a wide range of factors. Each couple is unique, and therefore will have their own set of priorities within their divorce. For some, child custody matters will dominate the process. Others will focus on the property division aspects of the divorce. Those couples who are homeowners will have another factor to consider: the current value of their family home.

Property division needs different for older spouses

Baby boomers have often been heralded as the driving force behind various types of social change. Recent statistics suggest that older Americans may be continuing that trend by drastically changing the face of divorce. People over 50 are divorcing in record numbers, in Texas and elsewhere. These spouses will have very different property division needs than their counterparts in their 30s and 40s.

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