Legal Question in Family Law in Texas
Are Capital Gains from seperate property community property
I read an article on ''Characterization and Tracing of Property''. My wife and I are trying to do a DIY divorce. She did enlist her own attorney to supposedly help her. We have everything separated except my 401K. As per an article by Steven E. Rogers, I can can prove ''inception of ownership''. Her lawyer is citing 3.002 of the Texas Family Code that dividends and interest of seperate property is community property. Reading it myself, I find that to be the statute. First, is her attorney correct? Second and more important, are capital gains reinvestments consider as community property from those same separate property.
Mr. Rogers cited an example of ''a person owns a home prior to the time of the marriage, and then during the time of the marriage the person sells the home and purchase a large stock portfolio, and then during the marriage the person sells some of the shares and places the funds into a bank account, upon divorce, if the person can prove the events ''tracing'' the transactions and the flow of value of the orginal home, the funds in the bank account and the remaining shares in the large portfolio remain separate property and are awarded to the party upon divorce.''
1 Answer from Attorneys
Re: Are Capital Gains from seperate property community property
Let's see. You are doing a DIY divorce and your wife has HIRED an attorney to help her; but you don't have an attorney and you're reading statutes and legal articles; but you don't want to spend the money to hire an attorney. Rather, you are looking for FREE advice on the internet when your financial assets are at stake. The best advice I can give you is to hire an attorney if the money is important to you. If not, keep searching the internet - the answer is out there.
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