Spousal maintenance is the technical term here in Texas for what is traditionally called alimony. Not to be confused with child support, which is meant to pay a portion (or all of) a child’s living expenses, spousal maintenance is designed to support the spouse....
High-asset Divorce
Retirement accounts must be addressed during the divorce
Divorce has emotional components and economic ones. The emotional issues will heal over time, but economic missteps can haunt you for years and impact your lifestyle, retirement and financial security. While there may be a long list of individual assets or separate...
Financial security for children and parents after a divorce takes planning
Dividing assets is often one of the most important and complicated parts of negotiating a divorce agreement. At the same time, couples who are parents need to create a parenting plan that outlines each parent’s respective rights, duties, financial obligations,...
Kelly Clarkson’s divorce includes vaccine stipulation for the kids
We previously discussed Kelly Clarkson’s divorce on this blog, focusing on the prenuptial agreement signed by her husband, Brandon Blackstock. Blackstock grew up in Fort Worth and currently resides full-time at a ranch in Montana. The divorce has also involved a...
Spouses should evaluate tax issues when filing for divorce
It is officially tax season, with the April deadline closing in with alarming speed. Perhaps this will be the last time that a divorcing couple files jointly together. The division of your community assets will be an essential part of the final agreement, so it can be...
Spouses now often must fight for their alimony (also known as post-divorce spousal maintenance)
Alimony was a part of nearly every divorce in past generations. The arrangement was often due to the traditional role of the husband acting as the sole breadwinner for the family, while the wife would raise the family, run the house and possibly only work part-time or...
Is a medical practice community property?
Medical doctors are under an incredible amount of stress these days, which sometimes leads to divorce. Those who have a private practice soon realize that it is treated just like any other business under Texas law, which means it will get divided up with the rest of...
Kelly Clarkson’s prenup holds up in court
The contract's validity is a common issue when couples with a prenuptial/premarital agreement choose to divorce. Sometimes judges will rule that all or parts of the agreement are unfair and invalid, while at other times, they rule that they are valid. The latter was...
Can individuals challenge the community property presumption?
Texas is one of a handful of community property states. In simple terms, property accrued by each spouse during the marriage is rebuttably presumed to be community property that is subject to a "fair and just" division by the Court if the couple divorces. Property...
The Gates’ divorce starts with a separation agreement
Bill and Melinda Gates announced earlier this month that they were finally getting divorced after 27 years of marriage. Melinda filed in Washington State, citing that the marriage was irretrievably broken. The fourth richest man in the world and his wife are worth an...