Assets And Liabilities In Divorce

Assets and liabilities that are subject to division during a Texas divorce include:

    1. Real property
      • Description
      • Address
      • Mortgage information
      • Original principal
      • Principal at the time of marriage
      • Name in which the loan was taken
      • Date and amount of balance
    2. Motor vehicles and boats
      • Description
      • Year and make
      • Vehicle identification number
      • In whose possession is it in
      • Name on the title
      • Any special packages or accessories
      • Lien holder
      • Date and amount of balance
    3. Household furniture and furnishings
      • Make an item-by-item, room-by-room list or general descriptions and fair market value of items such as sofas, televisions, bedroom suites, refrigerator, etc.
    4. Cash accounts
      • Bank name
      • Type of account
      • Balance on date of marriage
      • Date and amount of current balance
      • Lien against account if any
    5. Investments and securities
      • Institution name
      • Type of account
      • Name on account
      • Balance on date of marriage
      • Date and amount of current balance

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  1. Employment benefits
    • 401(k) and pensions
      • Plan number
      • Account number
      • Vesting proportion
      • Number of years worked prior to marriage and since marriage
      • Balance on date of marriage
      • Current balance
    • Stock options and IRA accounts
      • Plan name
      • Account number
      • Vesting proportion
      • Number of years worked prior to marriage and since marriage
      • Balance on date of marriage
      • Current balance
  2. Life insurance
    • Insurance company name
    • Policy account number
    • Type of insurance; term or whole life
    • Beneficiaries
    • Purchase date
    • Face value
    • Date and amount of cash surrender value
  3. Oil and gas interests
    • Ownership description (royalty, bonus, overriding payment)
    • Date purchased or acquired
    • Other parties or entities involved
  4. Collections of extraordinary items
    • Description and market value of jewelry, coins, antiques, guns, fine art, china
  5. List all separate property
    • Separate property is all property you acquired before marriage or by gift or inheritance.
  6. Accounts receivable
    • Name on which debt is held
    • Date and original amount
    • Principal balance owed
    • Payable by whom
  7. Liabilities
    • Credit cards
      • Name of credit card
      • Account number
      • Name on account
      • Monthly payment if applicable
      • Date and amount of balance
    • Notes payable
      • Payable to whom
      • Date incurred
      • Reason for debt
      • Payable by whom
      • Date and amount of balance
    • Utilities and/or medical bills
      • Payable to whom
      • Date incurred
      • reason for liability
      • Payable by whom
      • Date and amount of balance
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