A trial court that has divided property in a Texas divorce must provide written findings of fact and conclusions of law, including how it characterized and valued the assets and liabilities, if a party properly requests them. In a recent case, a husband challenged the court’s refusal to specify the…
Many assets divided in a Texas divorce are distributed during or soon after the divorce, but some assets, such as retirement benefits, may not be distributed for many years. Issues involving retirement benefits may continue or arise several years after the divorce is final. A Texas appeals court recently decided…
In a Texas divorce, the court must divide the property in a just and right manner. The requirement is that the division be equitable, but not necessarily equal. The Texas Supreme Court identified several factors courts should consider in Murff v. Murff. These factors include the parties’ physical conditions, education,…
In some Texas divorce cases, a party fails to file an answer to the divorce petition or otherwise participate in the divorce proceedings in any way. When a court divides property in a Texas divorce, it must do so in a “just and right” manner. TEX. FAM. CODE ANN. §…
What is a Partition or Exchange Agreement? In Texas, spouses can enter into agreements (often referred to as “partition or exchange agreements“) during marriage, partitioning community property between themselves. A partition or exchange agreement must satisfy several requirements to be valid and enforceable, including being signed by both spouses. However,…
If your business partner is also your life partner, you need to consider a recent Texas high court decision. (read more) Gonzalez v. Maggio, 500 S.W.3d 656 (Tex. App. – Austin 2016) is a Texas case that illustrates the complexities of ending a business partnership along side of ending a…
What happens to the engagement ring if someone calls off the wedding? Unfortunately, before some engaged couples can make it down the aisle to say “I do”, someone says “I don’t”. The issue of who gets to keep the engagement ring often surfaces during this heartbreaking time. An engagement ring…
Alex Graves, award-winning director of “The West Wing” recently finalized his divorce from his wife of 19 years. Pursuant to the final order, the spouses’ property was divided evenly. Does the State of Texas mandate a fifty-fifty division of property upon divorce? The short answer is “no.” The State of…
How will divorce affect my taxes? Eventually, almost every person going through a divorce must address this question. As you might imagine, divorce affects your federal tax return in numerous ways. The issues that arise most frequently include tax filing status, exemptions, alimony, retirement accounts, and property transfers. One of…