Under Texas' community property laws, inheritance is generally characterized as separate property and exempt from the division. In some instances, the inheritance and how it was used must be traced to ensure the fund is divided.
For an inheritance made up of stock and investment accounts, the activity in these accounts must be reviewed carefully. For instance, interest and dividends from an investment, if earned during the marriage, is community property. If that interest or dividends from the investment were reinvested into stock, a mixed characterization results and must be untangled for proper division.
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As the couple's portfolio grows and expands based on contributions from an inheritance, property becomes commingled. Tracing these investments over the duration of the marriage is a highly complex matter, requiring the skill of a forensic accountant to ensure that it is done accurately and comprehensively. It must be determined exactly what is characterized as separate and as community.
For more than 30 years, high net worth individuals throughout the Houston area have relied upon Fabio & Merrill to provide skilled representation in the division of complicated and high-value assets and inheritances. Our attorneys are regarded for their ability to cut through the complexities and provide clarity in the characterization of assets.
The burden of proof lies on the individual claiming that his or her separate property or asset is separate. He or she must provide evidence showing that the asset in question is exempt from the division. We are committed to protecting our clients' interests throughout this process and ensuring that they are awarded exactly what is entitled.
To learn more about separate property and how we can represent your interests, please contact our firm today at 713-568-3341 or toll free at 866-761-1513.