Most of us are familiar with a prenuptial agreement, but a growing number of couples are turning to postnuptial agreements. The concept is the same, except that the couple waits until after the wedding day. Some plan it that way, while others see a need for one later.
The stepparent role traditionally often carried several negative stereotypes. It could be the "evil step-monster," the out of touch adult uninterested in kids, or a parent who showed a clear bias toward their own biological child. The blending of families, however, is a fact of life for parents who have remarried or have married someone who has children.
Cryptocurrency and digital currencies have been around since 2009. While Bitcoin is the most well-known, there are now thousands of these digital currencies, including Etherium, XRP (Ripple) and Litecoin. Essentially cash stored in a digital format, these assets can pose a real challenge to couples simply attempting to divide assets because they are easy to hide and hard to value.
Mediation typically is a voluntary process where two parties work with a trained mediator to resolve areas in dispute. While this can be helpful for business partners, mediation is also well suited for resolving family law matters. The family courts here in Texas agree, and judges will often order the two parties to attempt to mediate all or part of a Mediated Settlement Agreement ("MSA"). This approach can streamline litigation and thus reduce the cost and the amount of time the couple spends in court.
Actors Johnny Depp and Amber Heard’s divorce was one of the ugliest high-profile divorces in recent memory. There was celebrity bad behavior involving Depp’s hard partying-lifestyle, but most damaging were Heard’s allegations of physical and emotional abuse, which led to a restraining order against Depp in 2016 and subsequent divorce in 2017.
There are many advantages to using mediation to handle family law matters such as divorce or custody issues. Advocates point to benefits, such as it is less expensive and much quicker than litigation. It also gives the couple much more control over how matters are resolved rather than leaving such matters to a stranger (the judge) to make important decisions that will affect the lives of family members.
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.
There are a lot of statistics about how millennials are waiting longer to get married or staying in a committed relationship that does not include a plan for marriage. However, love is often unpredictable and can strike before the couple finishes college or graduate school. While students famously live on a shoestring budget and often do not have fulltime employment, it is still worthwhile to consider a prenuptial agreement.
Sometimes a separation is the best option for initiating divorce proceedings, particularly under circumstances where the stress in the family home is through the roof. Unlike most states, Texas does not recognize legal separation, which means most separated couples will initiate divorce proceedings. Nevertheless, couples do have options if they choose to live apart before divorce.
One of the main takeaways for couples filing for divorce in 2019 will be the fact that alimony (called spousal maintenance here in Texas) will no longer be tax deductible for the spouse paying. This likely means an increased tax obligation to those who pay, but financial analysts believe there are still other areas where there are opportunities to save money or enjoy more financial flexibility in a divorce or family law agreement while remaining compliant with the new Tax Cuts and Jobs Act.