Texas is a community property state, and assets that are acquired by a couple during marriage must be in most cases equally divided between the two parties in the event that they divorce. If parties cannot agree on which of them will maintain possession of a family home, a judge may order the parties to sell the house and split the profits 50-50. Although most pet owners would disagree, many family law courts will treat animals as items of property that are no different than a home or a piece of furniture.
Full disclosure of assets important in divorce
When marital property is divided, it is based on a full and honest disclosure of all assets by both parties. However, when false or misleading information is given, the discrepancy may be reviewed by the court and the division revised based on new information.In a suit filed in a Texas court against her ex-husband after their divorce, an ex-wife stated that her former husband lied about the home they shared during their marriage.
Social media and prenuptial agreements
Texas residents may be interested in a new trend that is arising across the country - the social media prenuptial agreement. With the rise of social media, people increasingly post large portions of their lives online for the world to see. However, when one spouse might be inclined to post what are thought to be attractive pictures of the other in a bathing suit, a social media prenup can help avoid issues.
What to know about divorce in Texas
Couples who are ending their marriages need to think clearly about their finances even if they are going through a highly emotional divorce. There are a variety of things to consider that can be an important part of many divorce settlement agreements.
