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Texas is a community property state. What this means is that assets acquired during the course of the marriage belong equally to both partners. This also can apply to debt undertaken during the course of marriage.
While the concept may seem relatively straight forward, in truth it can become complicated fairly quickly. For example, should both spouses share equally in a student loan taken out by Spouse 1 for medical school, if Spouse 2 supported the couple financially for the duration of Spouse 1’s schooling and training, and if Spouse 2 will never realize any economic benefit from the loan?
We possess the legal and financial expertise to guide you through the division of assets and liabilities, and the mediation skills to help navigate you and your partner through a terrain that is mired in emotional and historical landmines.
Divorce Better offers a truly affordable way to- and through- divorce, beginning with a free one-hour consultation, and a one-time, flat fee.
Some examples of the debt divorcing couples oftentimes must confront include: