Aug 31
What are Reimbursement Claims? A “reimbursement claim” is an attempt by one estate (typically the separate estate of one spouse) to recover money spent on another estate. When this type of cross-estate spending occurs, separate and community assets may become “commingled,” opening the possibility of reimbursement claims. (more…)
read moreAug 30
When considering the division of household goods and personal property, courts seek to divide the assets reasonably rather than evenly; this rarely results in a 50/50 split. It is impossible to evenly split personal property because each individual places a different value, both numerical and sentimental, on items. How to Agree to Split Personal Property with Your Spouse Most couples are able to review the contents of the marital residence and informally agree on an item-by-item division. ...
read moreAug 30
Understanding what is likely to happen to a business is one of the most critical and complex issues facing business owners during a divorce. A key first question is whether a business will be considered community or separate property. (more…)
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Community property is defined through exclusion as “the property, other than separate property, acquired by either spouse during marriage.” Texas courts presume that all property acquired during a marriage belongs jointly to both spouses. This “community estate” is subject to a “just and right” division by the court, generally as close to 50/50 as possible. (more…)
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