Settlement

Equitable Property Distribution in Texas Divorce

Published on: April 11, 2021 | by McClure Law Group

does-adultery-affect-alimony-in-idaho-1080x600-1 In a Texas divorce, the court must divide the property in a just and right manner. The requirement is that the division be equitable, but not necessarily equal. The Texas Supreme Court identified several factors courts should consider in Murff v. Murff. These factors include the parties’ physical conditions, education, financial condition, abilities, and ages. A husband recently challenged a trial court’s division of the marital property following a mediated settlement agreement between the parties.

The parties married in 1999 and the wife initiated divorce proceedings in 2017. Pursuant to a temporary order, the marital home was sold and about $500,000 in sales proceeds were put into an escrow account. The court signed an agreed order allowing disbursement of an equal portion of the proceeds to pay each party’s divorce attorneys. The rest of the proceeds was left in the escrow account.

Texas Divorce Decree Must Adopt Terms of a Mediated Settlement Agreement

Published on: February 23, 2021 | by Kelly McClure

A Texas Mediated Settlement Agreement (“MSA”) that meets the statutory formalities is binding and the parties are entitled to a judgment upon it (i.e., the divorce decree must adopt it). In a recent case, a husband challenged an order issued after the divorce decree that was intended to conform the decree with the terms of the MSA.

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parties executed an MSA. A couple of weeks after the court entered the final divorce decree, the wife moved for clarification of the MSA. She alleged the final decree did not reflect the MSA, because it failed to confirm certain items as her separate property. The trial court entered an order confirming those items as her separate property after a hearing.

The husband appealed.

Is My Spouse Entitled to Half of My 401(k)?

Published on: January 24, 2021 | by Spencer Page

iStock-654702696 For many Texans, their 401(k) plan is one of their largest assets – particularly for those who have made regular contributions throughout their career. On top of that, 401(k) plans often hold symbolic significance above and beyond their sheer dollar value. To some, they represent safety, security, and an end to the monotonous rat race. For others, they are a prize, a badge of honor earned after countless late nights at the office. However, no matter the role they play in your life, the thought of losing half of your hard-earned nest egg can be terrifying. This begs the question: how much of your 401(k) is actually at stake in a Texas divorce? Continue Reading ›

Texas Divorce Decree Could Address Changes Arising from Hurricane Occurring after MSA

Published on: January 11, 2021 | by Francesca Blackard

iStock-178756342 When a divorcing couple reaches a Mediated Settlement Agreement (“MSA”) that meets the statutory requirements, the parties are entitled to a judgment on that MSA. Tex. Fam. Code Ann. §§ 6.602(c). In some cases, however, things can change after the MSA is agreed upon. In a recent case, a wife challenged the way a court addressed changes arising after the MSA was executed, but before the final decree of divorce was entered.

Texas Court Finds No Duress in Mediated Settlement Agreement

Published on: December 23, 2020 | by McClure Law Group

What is a Mediated Settlement Agreement?

A mediated settlement agreement (“MSA”) in a Texas divorce is binding if it meets certain requirements. It must state that it is not subject to revocation in bold letters, capital letters or underlined text. It must also be signed by each party and the party’s attorney, if present. Tex. Fam. Code Ann. § 6.602. Some Texas courts have held that an MSA may be unenforceable if it is obtained by fraud, duress or coercion.

A husband recently challenged an MSA, partly on the grounds that he allegedly signed it under duress.

The parties had been married since 1981. Some of the property acquired during the marriage was held by a limited partnership in which the parties owned a 95% interest. In August 2017, the husband was arrested after the wife reported he had threatened her with a firearm. The wife filed for divorce the very next day.