Posts tagged "assets"

How art is divided in a divorce

When artists go through a divorce in Texas, they might be surprised to learn that they will have to divide their creations. Under state law, paintings, sculptures or other art pieces that were created by one spouse during the marriage are the community property of both spouses. During the property division stage, both parties will have equal rights to these assets.

Protecting gifts and inheritances during a divorce

Texas residents going through a divorce may want to know how to protect assets received in the form of gifts and inheritances during the separation. The answer to that question can become complicated, but it tends to depend on whether the assets are classified as marital or separate property.

What to do with the marital home before and after divorce

State law determines how couples are supposed to handle property division in a divorce. Since Texas is a community property state, a house and other assets acquired during the marriage are generally, in the absence of an agreement between the parties, split equally by the court during the property division determination. Selling the house and taking half the proceeds would be the simplest solution, but usually one person wants to continue living there. In that situation, both parties need to take steps to protect themselves financially. Getting a divorce does not automatically change the status of jointly owned property in the eyes of creditors.

Why is divorce becoming more popular among older couples?

For most of our Dallas County readers, there are two major life events that happen in just about everyone’s life: marriage and having children. When most couples divorce, they consider themselves young enough to take another chance at these life events. But for couples over the age of 50, this might be less true, especially considering the challenges they might face in the dating world and starting a family together.