Understanding How Inheritance Factors Into Divorce

Families in Texas may benefit from learning more about how divorce and property division may affect inheritances. In many situations, inheritances are not subject to division or equitable distribution because the assets are considered to be separate property. The beneficiary of the inheritance is often recognized as the sole owner of the assets. However, states may treat inheritance and property division differently, depending on the particular circumstances.

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The Day of the Divorce

In order for a divorce process in Texas to be completed, it is necessary to go before the court and obtain a Final Decree of Divorce. This is the document that permanently dissolves the bonds of marriage between them, ending the combined legal entity created by their wedding.

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Dividing Property in Divorce

Texas residents contemplating divorce may be interested in how dealing with the marital home may adversely affect his or her credit rating afterward. Steps to avoid credit problems associated with lingering joint ownership of the property or other problems are best taken in advance. Buyouts and refinancing strategies may be used to prevent this and assure a smooth transition.

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Initiating a Divorce in Texas

In order to obtain a divorce in Texas, the married couple must have been Texas residents for at least six months immediately before the divorce is initiated, and they must be residents of their particular Texas county for at least ninety days prior to the initiation. Provided that these conditions are fulfilled, then one of the partners may file for divorce. The spouse who files the petition for divorce is called the petitioner, and the other spouse is known as the respondent.

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How is Property Distributed in a Divorce?

In Texas divorces, property distribution is handled according to the legal rights of both parties. Any children involved will be taken into account when the court is determining how property should be distributed. Texas is a community property state, which means that property acquired is would be considered community property and is subject to distribution under state law. In many cases, both parties may still retain joint ownership of property within the state, or some other arrangement in the best interests of both parties is also possible.

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