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January 2017 Archives

Beware of the potential financial pitfalls of divorce!

There's hardly ever a single reason given by those who end their marriages for what prompted their decisions. If you are soon entering the divorce process, you might relate to the fact that various events and situations combined can simultaneously act as causal factors in a marital split. No one's circumstances are exactly like yours, and depending on several things, you may be headed for a simple process or one wrought with contention and serious challenges regarding unresolved issues.

Financial success post-divorce through fair divorce agreement

When a couple decides to end their marriage, the equitable division of financial assets can often be the main issue to settle between the parties. How to divide things like a car, a home and its contents, financial accounts, such as savings or retirement, and fair child support payments may have to be decided. Texas is a community property state, meaning that upon divorce, all property acquired during the marriage must be split 50-50, and the courts make these decisions if the parties cannot come to an agreement.

Drug addiction can lead to grandparents adoption of grandchildren

Due to the ever-increasing number of people becoming addicted to drugs such as heroin and prescription opiates, millions of grandparents in America are becoming the parents of their grandchildren. It was recently estimated by PBS that 2.9 million grandparents are raising their grandchildren through foster care and adoption. In Texas, grandparents are becoming licensed foster parents in order to be granted custody of their grandchildren.

New aid for delinquent child support collection in Texas

When divorce or paternity results in the need for child support payments to be made by a parent, the state of Texas has guidelines used to establish the payment amount. Ideally the payments are then made in full at the prescribed time. However, the reality of non-payment of child support is a problem many parents have to deal with and overcome.

Financial disclosure: What if your spouse is hiding assets?

Whether you have known your marriage has been headed for divorce for quite some time or the decision came on rather suddenly and unexpected, the journey ahead might include several challenges involving your children, property you own, business-related matters and/or assets. Especially if your marriage has lasted more than seven to 10 years, you've likely acquired additional assets and savings, which perhaps you have invested in a diversified manner. Negotiating a fair and agreeable divorce settlement may be difficult if both parties do not fully disclose financial and liability information.

Texas could be first state to eliminate no fault divorce

The decision to end a marriage in divorce can be a difficult one, even when the reasons are justifiable. Cruelty, adultery, a felony conviction, abandonment or time spent in a mental facility are all legitimate arguments for divorce. There was a time when Texas residents had to be able to prove in court that their spouse was "at fault" by one of these actions in order to attain a divorce. But that all changed in 1970 when the "no fault" divorce became law.

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Gunnstaks Law Office
5601 Granite Parkway, Suite 350
Plano, TX 75024

Phone: 972-590-6572
Phone: 972-392-2300
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