An Inventory and Appraisement (I&A) is required by Courts in any final hearing that involves division of marital property and confirmation of separate property at divorce. An I&A conveys three important elements of information about each asset or debt, as follows:
It IDENTIFIES the assets and debts (e.g., a home, ABC Bank...How to Report Death of a Servicemember and What to Expect
I recently helped a relative report the death of her husband, a military retiree, since she'd attempted to call DFAS multiple times but was getting nowhere. I quickly discovered she was calling the wrong phone number, as DFAS has several "customer service" numbers depending on the subject.
While it is possible to report the death...
Former Spouse Military Retired Pay – Fixed Dollar Awards
In military divorce, a former spouse who gets a fixed dollar award (e.g., "former spouse is awarded $1,000.00 per month") will never receive a cost-of-living adjustment or COLA.1 A State Court order that awards a fixed dollar amount and orders COLAs is unenforceable as to the COLAs. See id.
Author Jim...
Divorce During Bankruptcy: Possible or Not?
Is it possible to get divorced while one or both spouses are in the midst of a bankruptcy proceeding? Yes, but there are limitations.
Those familiar with bankruptcy law, which is detailed in Title 11 of the United States Code, know that upon the filing of the bankruptcy application, an "automatic stay" goes into effect.1 ...
Military Divorce: What Might Suspend Payment of Former Spouse Retired Pay
Recently, I was contacted by a Former Spouse trying to understand a letter she received from the Defense Finance and Accounting Service (DFAS) informing that payment of her Former Spouse retired pay, which she'd received regularly for years, had been suspended. She'd called DFAS and was told the suspension was related to matters that...
Divorce: Can I Get Reimbursed for Paying my Spouse’s Student Loans?
A common question I get is whether a client who paid the soon-to-be former spouse's student loan(s) is entitled to reimbursement. The Texas Family Code answers this question directly -- "no," a reimbursement claim for payment of the other spouse's student loan(s) is prohibited by statute.
Other potential reimbursement claims that are prohibited by statute...
Chapter 61 Retirement, Concurrent Retirement and Disability Pay, and Military Divorce
Retirement under Title 10 United States Code Chapter 61 occurs when a Servicemember's military department (e.g. Department of the Army, Department of the Navy, etc.) finds the Servicemember unfit for further duty due to a disability. The Uniformed Services Former Spouse Protection Act (USFSPA), codified at 10 U.S.C. Sec. 1408, excludes all sums received...
Military Divorce: Value of Retired Pay
Military retired pay tends to be the largest asset in divorce. Consider the following for active duty Servicemembers who retired in 2019 will pass away on their actuarial death:
The present value for an O-6 who retired with 30 years of service is $2.41 million dollars. The present value for an O-5 who retired with 28...Military Divorce: Stats on Military Retirees in Texas and the San Antonio Region
Texas ranks first with 9.95% or 215,818 of the nation's 2.168 million military retirees living in the Lone Star State. The top five States with the largest military retiree populations are as follows:
Texas: 215,818 Florida: 202,840Virginia: 157,821 California: 154,736 Georgia: 99,645Closer to home, approximately 18% or 38,997 of Texas' military retirees live in the...
Military Divorce: Blended Retirement System Lump Sum Payment Option
I recently gave a presentation on the military's new Blended Retirement System (BRS) at the Family Law Bar Association - San Antonio. The paper I wrote is on our website under the "Forms" tab.
A lump sum option may be selected by a Servicemember within 90 days of retirement. The first lump sum...
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