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Property Division Archives

Inherited IRAs and property division during divorce

Sorting out financial and property division issues can be some of the most complex aspects of the end of a Texas marriage. This is especially true when the couple has significant assets or has been married for many years, as their property is often deeply intertwined or may be held in a number of investment accounts and funds. Retirement accounts are often among the most significant assets divided during a divorce and frequently represent the largest single part of a couple's marital property.

Revising beneficiary designations after divorce

Texas divorcees should make sure that their beneficiary designations and other estate planning documents have been revised if they do not want an ex-spouse as a beneficiary. It is not uncommon for people to sign a divorce decree in which the spouse agrees to relinquish certain assets but forget to remove the spouse from those assets. In at least one court case, a court ruled that the divorce decree in which a man left his life insurance policy to his daughter overruled the beneficiary designation that still named his uncle. However, the process of correcting this type of error can be a long and expensive one.

Resolving marital debt and credit in divorce

The credit you've worked so hard to build teeters precariously when you are in the middle of a divorce. If you are like many divorcing couples and simply choose to live apart without a formalized separation agreement, you are still on the hood for debt racked up by the other spouse. 

Retirement funds of high value in divorce

When couples in Texas decide to divorce, the financial aspects of the end of a marriage can be the most contentious and difficult to address. Indeed, 62 percent of divorce lawyers surveyed in 2016 noted that retirement accounts are the most contentious issue faced by their clients. These accounts are often the largest single asset of a couple ending their marriage, and they are critical to both parties' financial health and futures.

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