Legal Question in Family Law in Texas
Assets upon divorce?
Hello,
This is a slightly unusual question, but important to me, as large scale decisions are involved. I am planning soon to marry. However, some remarks my partner has made recently cause me to worry that she might have an enthusiastic eye on acquiring half of my assets if there should be a separation. My understanding is that in Texas law the partner is entitled to half of the assets upon separation, including any property purchased during the marriage and half of my liquid assets. What I would like to know is, is there a way I can protect against my suspicions (short of not getting married, I mean). I had in mind giving my assets as a ''gift'' to a trusted friend, and even having his name on the house purchase, the aim being that I on paper would not legally possess these things. Is this kind of thing possible, and do you forsee important problems with it? (for instance, in the structure just described, I presume I would have no legal safeguard). If so, is there an alternative structure I can look at? (trusts or whatever?)
ps I do appreciate the ''are you sure you want to get married?!'' issue. Point taken, but I do hope for a reply to my specific question. Many thanks.
2 Answers from Attorneys
Re: Assets upon divorce?
I strongly urge you to meet with an attorney to discuss the matters in your question.
It would be impossible to discuss in detail all of the questions you asked.
You probably should meet with an attorney that does estate planning -- one possibility is setting up a trust.
You might also consider a pre-nuptial and post-nuptial agreement. In order to be effective, both parties need to be represented by their own attorney.
Texas does not have legal separation. You might also want to consult with a family law attorney regarding assets upon divorce. To describe community property in Texas very basically, each spouse would be entitled to 50% of the assets and debts acquired during the marriage, unless it's a gift (jewelry, cars, houses, etc.), or inheritance.
I hope this brief answer encourages you to immediately contact an attorney for assistance.
Fran Brochstein
www.familylaw4u.com
713-847-6000
Re: Assets upon divorce?
First, you need to seriously consider a premarital agreement. It would address most of your concerns. Should a divorce occur, the court will start with the presumption that ALL of your assets are community property and subject to division by the courts. You will have the burden to prove what is seperate property. Not always an easy task. The court will then divide the community estate in a "just and right manner".. which doesn't always mean 50-50.
Good luck
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