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Divorce Archives

Divorce and the family home

Dividing the physical and financial assets of a marriage may require agreements on many items. The division of such things as vehicles, securities, valuable collectibles, retirement benefits, and household items may have to be decided. In many cases, the family home is the most valuable asset that the couple has, so its disposition can become difficult to agree upon during a divorce. Couples in Texas have two options available to them in regard to their home when divorcing.

Infidelity in marriage may lead to fraud in high-asset divorce

Divorce, under any circumstances, is an emotional process -- especially if the divorce follows infidelity. Along with feelings of anger and betrayal, you may suspect your unfaithful spouse of financial misbehavior, such as hiding assets. This type of fraud is more prevalent in high-asset divorces that are not uncommon in the Plano, Dallas and McKinney areas in Texas.

Protecting personal finances during a divorce

There is no "how-to" manual for going through a divorce. No two are the same. However, every individual going through a divorce in Texas should make every effort to protect his or her personal finances. While the financial details of the dissolution can sometimes be the most difficult to resolve, there are things that a person going through a divorce should consider doing to protect their personal finances.

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.

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.

Court rules that one man is not allowed to divorce his wife

The majority of family law cases in Texas and elsewhere have a number of similarities: two parties are struggling to determine the details of the end of their marriage, including matters of child custody or the division of marital assets. In certain cases, however, the issues at hand are less common, and the court is tasked with making difficult decisions. An example is found in the case of a man who was recently told that he cannot file for divorce from his wife.

One costly property division mistake that should be avoided

When many Texas residents prepare to end their marriage, they take an approach that is informed by the advice of friends and family, as well as what they have learned from television and the movies. They sometimes overlook information that comes from the legal community, perhaps in the belief that attorneys are only concerned with how much money they can bill for their services. In reality, however, most divorce attorneys are sincerely concerned about the well-being of their clients, and want to be helpful in guiding them through child custody, property division and any other divorce matters.

Pitfalls to look out for in a high-asset, high-conflict divorce

Being wealthy does not make a person less romantic, and affluent Texas residents typically have the same expectations of their marriages lasting forever as do those with fewer assets. The only difference is that if you, as a wealthy person, decide to go your separate way, the property division process will likely be more complicated, and a high level of contention can exacerbate the trauma and stress.

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Plano, TX 75024

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