Assets And Liabilities In Divorce

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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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  6. 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
  7. 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
  8. Oil and gas interests
    • Ownership description (royalty, bonus, overriding payment)
    • Date purchased or acquired
    • Other parties or entities involved
  9. Collections of extraordinary items
    • Description and market value of jewelry, coins, antiques, guns, fine art, china
  10. List all separate property
    • Separate property is all property you acquired before marriage or by gift or inheritance.
  11. Accounts receivable
    • Name on which debt is held
    • Date and original amount
    • Principal balance owed
    • Payable by whom
  12. 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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