Skip to main content

Why is Separate Property Important and How to Keep it Separate in a Texas Divorce?


If you want to related guideline confidentiality Texas Child Law experience, So you can better suggestions in Why is Separate Property Important and How to Keep it Separate in a Texas Divorce?.

PROPERTY AND DEBTS

Houston Family Law Attorneys: The issue of how to divided property and debts is one of the main issues that must be resolved in any Texas divorce proceeding.

Marriage creates three independent property estates:

1. Husband’s Separate Property
2. Wife’s Separate Property
3. Community Property

WHAT IS COMMUNITY PROPERTY AND WHAT IS SEPARATE PROPERTY?

Divorce Houston: In general, Texas Community Property is property acquired by either spouse during the marriage.

There is a rebuttable presumption that all property owned at marriage is community property.

To rebut this presumption, spouses must provide clear and convincing evidence that a asset is separate property in Texas.

Separate Property in Texas is

1. property acquired before marriage,
2. property acquired during marriage by gift, devise or descent
3. property acquired during marriage, but purchased with separate property funds

WHY DOES IT MATTER WHAT IS SEPARATE PROPERTY AND WHAT IS COMMUNITY PROPERTY?

Family Lawyers Houston: Not every asset is obviously "separate property" or obviously of the "community property." The reason why it matters what character property has in a divorce is that under the Texas Family Code:

1. Community property will be divided between the spouses because it is marital property.
2. Separate property will not be divided because it is not marital property.

Texas, courts divide a marital property in a way that is deemed to be “just and right.” As mentioned above all property possessed by either spouse at the time divorce is presumed to be community property.

If a spouse wants to rebut that presumption they must present clear and convincing evidence to prove otherwise.

Some my consults are disappointed by what community and property and separate property means for their case. However, for others it is good news.

TRANSMUTING COMMUNITY PROPERTY TO SEPARATE PROPERTY

Family Lawyer in Houston: If spouses are not careful they can turn community property into separate property or separate property into community property. This can occur by:

1. Gift or
2. Commingling

An example of turning community property into separate property by gift would be:

1. If a spouse were to add their spouse to the deed of their separate real property into a we would presume that a gift occurred. This simple act has significant consequences of making the property 50/50 separate property.

KEEPING SEPARATE PROPERTY SEPARATE

Some ways to keep separate property separate include:

1. Do not commingle Separate Property
2. Obtain either a prenuptial or post-nuptial agreement

FIRST DO NOT COMMINGLE PROPERTY

Houston Family Law Lawyer: One of the big ways some of my consults have gotten in trouble is by commingling their separate property with community property. Commingling, refers to the intermixing of the separate property with community property.

When a couple commingles assets, it becomes difficult if not impossible, to figure out what is separate and what is community property.

Texas courts presume all property possessed by the couple at the time of a divorce filing to be community property and a spouse must present clear and convincing evidence to prove to the contrary.

This is a high standard to meet, and if a spouse wants claim certain property is separate then they will want to avoid any ambiguity that commingling may create.

If assets are commingled, then it may be necessary to hire a forensic accountant to untangle the mess. This can be an expensive if it is necessary. However, this is avoidable if precautions are taken early on to clearly to not commingle separate property with community property.

Some things a couple can do to avoid commingling is to:

1. avoid jointly titling property if it was owned prior to marriage or inherited
2. maintain separate checking and savings accounts for money owned prior to marriage or inherited.
3. use separate funds to maintain separate property

PRE-NUPTIAL OR POST-NUPTIAL AGREEMENTS

Family Lawyers in Houston: Prenuptial agreements or post-nuptial can be a tool for protecting separate property in a divorce. Prenuptial agreement are a tool that can be used to control how assets will be divided during a divorce making the outcome for property division is more certain.

It is recommended that spouses seeking to keep some assets separate during a divorce create prenuptial agreements prior to marriage or a post-nuptial agreement after marriage ... Continue Reading
Labels:
Location: 3707 Cypress Creek Pkwy Suite 400, Houston, TX 77068, USA

Comments

Post a Comment

Popular posts from this blog

How to handle a cheating spouse in Texas

If you want to related guideline confidentiality Texas Child Law experience, So you can better suggestions in How to handle a cheating spouse in Texas Spring Divorce Lawyers : One of the most difficult and challenging aspects of a family lawcase is that they are, above all else, personal matters. This means that not only will you become engaged financially, relationally and logistically in a family law case but you will be emotionally invested in the case as well. While I suppose that this is true for any legal matter that you undertake, it is especially true for family law cases. These are personal matters that have become a part of the public record. An awkward and unenviable situation to be placed in. Why are family law matters so delicate? For starters, I believe that it is because so many areas of our lives are encompassed by these type of cases. For instance, if you are considering a divorce from your spouse just consider for a moment the areas of your life that are impa...
Post a Comment
Read more

Rule 11 Agreements in a Texas Divorce

If you want to related guideline confidentiality Texas Child Law experience, So you can better suggestions in Rule 11 Agreements in a Texas Divorce . Houston Divorce Lawyers : Rule 11 agreements are often used in family law and cases. I have had clients and potential clients ask me about what a Rule 11 agreement is and what they are used for. Many lawyers use Rule 11 agreements to settle an issue or a whole case. Attorneys often use the term “Rule 11 Agreement” as if it were a specific type of agreement. WHAT IS A RULE 11 AGREEMENT? However, Rule 11 is a rule of procedure and does not do much to define the form or substance of settlement agreements. A rule 11 agreement refers to Rule 11 of the Texas Rules of Civil Procedures which provides that an agreement between lawyers in a case is enforceable if the agreement: Is in writing and filed in the papers of the court or unless it be made in open court and entered of record. USES OF RULE 11 AGREEMENTS Rule 11 Agreements or...
1 comment
Read more

The effect of divorce on children: Helping your family maintain stability

If you want to related guideline confidentiality Texas Child Law experience, So you can better suggestions in The effect of divorce on children: Helping your family maintain stability Family Lawyers Houston : If you are a parent who is going through a divorce then you will find that your case will be quite different from a divorce that does not feature two parents. Parents understand that their actions have a direct and often disproportionate effect on the lives and well being of their children. With this in mind, it’s possible that in the weeks and days leading up to your considering a divorce your biggest concern laid not with paying for an attorney or deciding what to do with the family home, but in breaking the news of the divorce to your children. Without belaboring the point too much, your children will certainly be affected by your divorce no matter how stressful or stress free the process actually is. If we take into consideration the fact that your child has probably ...
Post a Comment
Read more