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February 2019 Archives

Divorce means it is time to change your passwords

There are a million details that need to be ironed out when one gets divorced. While determining a parenting plan and dividing the assets are at the top of the list, it is a mistake to put the task of changing your passwords at the bottom of the list. We have recently talked about being aware of one's digital footprint during the divorce process, but digital security experts believe it is also a smart idea to change passwords for any digital account that your ex-spouse no longer needs access to.

Is your spouse hiding assets?

Spouses can get quite creative when it comes to stashing money away that would otherwise be a marital asset. Typical examples include opening offshore bank accounts, using hidden retirement accounts or deferring compensation. One CPA even tried to overpay the IRS with the idea that he would later file for a refund.

Divorce and bankruptcy is a complicated mix

We have said many times that divorce is one of the most difficult challenges that an individual can face. Unfortunately, it is common for couples filing for divorce to also have financial issues, which may even be the basis for the split. In addition, the fallout from the divorce can also prompt one or both parties to file for bankruptcy protection. Regardless of how divorce and bankruptcy are connected, the divorce gets even harder and more complex when bankruptcy is involved before, during, or after filing for divorce.

Fact finding and discovery in the digital age

There is a period of time during the divorce process where each side works to prepare and exchange information for discovery. In the past, this meant financial records, proof of deceit or misbehavior, depositions (sworn statements), interrogatories (your recollections) and requests for admissions, production of documents and tangible things, and disclosure of basic information about claims and witnesses in the lawsuit.

When is it appropriate to change a child support order?

Divorce brings about significant changes in a person's life, and those changes do not necessarily stop simply because the divorce process is final. There are many challenges that can continue to affect your life after your marriage is over, and sometimes, it may be necessary to seek a change of terms in your divorce order. 

High asset divorce may be easier than you think

The divorce of Jeff and MacKenzie Bezos is notable for many reasons, but most focus on the fact that world's richest couple is dividing their estate in half despite Jeff's business interests and earnings. This is obviously by choice - there was no prenup or postnup. While there is a $137 billion estate to divide in half, per community property rules where they filed in Washington as well as here in Texas, it may not take nearly as long as many predict.

Common forms of mediation

Many are aware that mediation is a common form of alternate dispute resolution that enables parties to resolve matters outside of court. While it is used in different legal contexts, it is particularly well suited for family law because it enables the parties to resolve differences in a less confrontational manner.

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Plano, TX 75024

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