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Assets attained before marriage can complicate a divorce

When a couple enters into a marriage in Texas divorce is likely the last thing on their mind. No couple expects that what appears to be a perfect match may wind up in divorce court. But for a large percentage of couples, divorce becomes the best option available to them.

One of the major components of a divorce settlement is property division. Often property division is complicated, especially for couples who enter the marriage with their own assets. Although most people assume that the assets a person has before the marriage will remain theirs after the divorce is finalized and will be kept separate in property division, this is not always the case. One example would be a person who enters the marriage with a brokerage account and continues to contribute to the account when married may find that the account is now community property during the divorce because it is property that was acquired during the marriage.

People who are entering a marriage with assets may be want to know how to keep their property separate from marital property. One way is to create a pre or post-nuptial agreement. Another way is to make sure separate property is kept separate. This means that separate funds should not be transferred to marital accounts and funds earned after the marriage should not be transferred to personal accounts. Separate funds should also not be used to purchase community assets or pay for household expenses. Also income earned after a marriage should not be used to pay for separate property or for personal debt such as student loans.

Keeping pre-marriage assets separate in a divorce settlement can be tricky. An attorney who specializes in family law can help their client make sure their assets are protected in the event of a divorce.

Source: forbes.com, "Getting married? Got Assets? Read this first", Orrit Hershkovitz, Jan. 30, 2015

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Attorney Christine K. Lincoln

Christine K. Lincoln offers sound counsel and legal services to protect clients and their families facing divorce and other family disputes.

She will take the time to understand your individual needs and develop a comprehensive solution to protect your rights and interests.

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