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Texas is a community property state. That means any assets (including your earnings) that were acquired during marriage (prior to divorce) are community property and are subject to equal division between the spouses.
what if I made the money after we separted
It is community property and the value should be divided between the spouses (as should the income he earned, if any)
I went to go work in Afghanistan with the army and made money we were not living together and decided we wanted divorce
How did he get the money?
I worked as a linguist with the army in afghanistan and came back after my injury in sucide bomb attack
what can I do? transfer the money to my parent account?
If he does not have the money already, you are not required to make it available to him. Usually, the court determines what assets are available at the time of the divorce trial and divides that property. A person's income to live on may not be considered if it was spent on the costs of living.
ok thank you so much
For now, yes, you can transfer the money to your parents to prevent him from taking it from you. However, if asked what assets you have, you must be honest about your assets, even if those assets are not in your name. (Remember that if you put more than $13,000 in your parents' account, they will have to pay a gift tax.
Correction, you would be the one to pay the gift tax.
so i can put 13,000 in my moms account
and 13,000 in my dads account
and another 13,000 n my brother account
yes, without having to pay the gift tax to either one. That is the limit for tax year 2010. It may change for 2011.
ok thank u so much
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