Legal Question in Family Law in Texas
I live in Texas and will be married this summer 2013. My question is this: My home is valued at 250,000 and is paid for in full. Once married, we will purchase a new home together, with proceeds of sale of my current home.
If divorce occurs, what part of the original 250,000 (that went into the new home) is shared if any? Or will 250,000 asset remain with original owner and any equity in house will be divided 50/50. If this is the case, this would imply I would keep original 250,000 plus 50% of equity of new house.
Please advise?
2 Answers from Attorneys
Once you commingle the funds with his (by purchasing community property with your separate property), the funds lose their separate property status unless you have a prenup.
I agree with the other attorney.
If you want to protect your separate property funds in case of a divorce in the future, then you need to do a prenuptial agreement. This requires both of you to have attorneys representing you.
Also, what I see at mediation is that when the couple comes to me & the husband makes this type of claim, the parties normally agree to let this separate property claim drop in order to settle the case and not go to trial. Taking a case to trial is very expensive due to the cost of litigation plus the emotional expense.
As you can see, you need to talk to an an attorney about your idea BEFORE you marry.
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