Do I Have to Share with My Spouse if I Win the TX Lottery?
Perhaps you and your Texas spouse have begun the process of divorce. Texas is a community property state, yet you may already feel as though you are not getting your fair share in the asset division portion of your divorce. One day, you stop by a convenience store on your way home and purchase a lottery ticket before heading home to your apartment.
Imagine your delight when you read the numbers the next morning and realize you have won! On the heels of the excitement comes the distressing realization that you may have to share your winnings with your soon-to-be ex-spouse.
Wait – what? You have not lived with one another for months, and those months have been filled with constant arguments about asset division, child custody, spousal support, and child support, and now you have to share your winnings? Before you do anything, it is extremely important that you speak to an experienced Hurst, TX asset division attorney.
What If You Win the Lottery Before Your Marriage?
Texas is a community property state, which generally means that all marital assets and marital debts are divided equally in the event of a divorce. The assets you bring to the marriage – including a lottery win – can remain separate assets, but only if you do not combine the winnings with marital income. This means the lottery winnings must be kept in a separate bank account in your name only. If you deposit the money into your joint marital banking account, it can become a marital asset.
If you won the lottery before your marriage and you want to keep the money as separate property, you can, so long as it is done carefully. But, if you are getting interest payments connected to your lottery winnings during the marriage, those payments are subject to the rules of community property division. Once the marriage ends, the other spouse is no longer entitled to his or her share of the interest payments.
If You Win the Lottery During Your Divorce, is There Any Way Around Sharing?
Despite the fact that Texas is a community property state, a judge can wield substantial power in family law cases regarding community property. The judge may consider issues like the duration of the marriage, along with individual contributions to the marriage. If one spouse has engaged in the dissipation of marital assets or hiding marital income, this may influence the judge’s decision regarding splitting lottery winnings.
So, winning the lottery during your divorce is basically the same as winning the lottery before you ever decided to divorce – unless the judge says differently. Even if you made the purchase of your lottery ticket with separate funds, the winnings are still likely to be subject to community property division. Your best opportunity to keep as much of your lottery winnings as possible is to have a skilled divorce attorney who knows the best strategies to use to convince the family court judge that your soon-to-be ex-spouse is not entitled to half of the payout.
Contact a Tarrant County, TX Asset Division Attorney to Schedule Your Free Consultation
Before you make any decisions regarding your winning lottery ticket, speak to a Hurst, TX asset division attorney from Daniel R. Bacalis, P.C. The attorney you choose matters in complex divorce issues. Attorney Daniel Bacalis is board-certified in family law and has almost four decades of experience with virtually every type of family law issue that exists. Contact Daniel R. Bacalis, P.C. at 817-498-4105 to schedule your free consultation.
Connect With Us
Please fill out the form below or call our office at 817-498-4105 to schedule a complimentary consultation.
The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.
I have read and understand the Disclaimer and Privacy Policy.