Category: Divorce and Real Estate
The Cost of Proving Separate Property in Divorce
The spouse claiming property is separate in divorce has the burden to prove it. In a long term marriage the proof can be hard to find, and expensive to provide. It requires that the source of the funds used to create and maintain separate property be “traced” by a forensic accountant or CPA and requires, … Continue reading The Cost of Proving Separate Property in Divorce
A House Divided: Your Home in Divorce
For most couples, the family residence is one of their largest assets. In divorce, the family home is treated like any other asset, but it is an asset unlike any other. The family home isn’t easily divided. Budgetary concerns and tax issues coupled with emotional ties to the home can lead to catastrophic financial outcomes. … Continue reading A House Divided: Your Home in Divorce
Your Divorce: Six Essential Elements to a Smart Property Division
Identify Assets and Liabilities Gather the latest statements for your assets (investments, property, business interests) and liabilities (mortgages, credit card debt, auto loans, etc.). Divorce Planning of Austin uses these statements to prepare an initial list of property to be divided. Collect tax documents for at least the past three years. Reviewing tax returns helps uncover … Continue reading Your Divorce: Six Essential Elements to a Smart Property Division