‘He also bought an investment property, supposedly with his trust fund a month after marriage without my knowledge and another investment property with his mom before marriage’
My spouse created a revocable trust two months before our marriage without my knowledge. He placed all of his money in the trust fund. We are now getting a divorce. Am I entitled to any of his assets? Or not?
Your family home is considered community property if it was purchased during the marriage, and/or if joint funds were used to pay the mortgage or for the upkeep of the property regardless of whose name is on the deed. However, in an equitable-property state, the divorce court may take your husband’s own financial activities and/or behavior into account when splitting the assets. If you purchased this property prior to the marriage, it will remain yours and yours alone.
“If the income, deemed community property in this situation, was then used to purchase the investment property during the marriage, then all or part of that investment property may be considered a community property asset,” he adds. “Often the courts will take a spouse’s separate property into account when dividing the community-property assets, meaning that one spouse may end up receiving more than 50% of the community-property assets during a divorce.
Your husband is subject to the same rules as everyone else. Koons Fuller, a law firm in the Dallas/Fort Worth area, breaks it down this way: “You can determine if a house is community property or separate property using the following rules: A house purchased during marriage is presumed to be community property. A house owned before marriage is separate property, as is a house inherited or received as a gift.” Texas is a community-property state.
Divorce Revocable Trust Assets Investment Property Marriage Entitlement
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