Those facing a high-asset Houston divorce often have one hard question when dividing the marital assets. With Texas being a community property state, how does one spouse get their value out of the country club membership?
It’s an interesting question due to the design of the membership itself. Let’s explore how the spouses can both get value from this big investment.
Spouses must follow membership regulations
In most, if not all, Texas country clubs, one spouse (typically the husband) applies for membership. If approved, any spouses and minor children would then be associate members under the primary member.
Thus, in cases of divorce, it can be fruitless to fight for something that you can never get.
Country club memberships have value for both spouses
Considering the hefty initial down payments, the annual dues and monthly invoices, there’s a good chance that all or most of your social life is wrapped up in club activities and amenities. Business deals, too, get sealed on the courts and the greens.
If one spouse walks away from the membership due to club rules, they are entitled to half the value of the membership. What that value is must be determined and is based on varying factors.
Don’t leave cash or resources on the table
When negotiating or litigating your divorce, you must strategize to get the highest value in your community property settlement. Maybe it would make sense to ask for a higher percentage of the retirement accounts. For others, swapping for the condo in Galveston might be fair.
Remember, your end goal is to leave your marriage with sufficient assets to begin a new chapter of life.