Posted on September 17, 2019 in Firm News

Divorce is an intricate process, especially for couples with massive financial holdings. The wife of the former lieutenant governor of Texas recently sued her former husband due to an alleged unpaid divorce settlement.

Even if you have nothing like that in your own divorce proceedings, you still have to watch out for some financial aspects. You do not want to get out of marriage on an unstable financial footing, so you need to consider these fiscal issues before finalizing anything.

Retirement planning

In a marriage, both spouses plan toward retirement together. They may have a single retirement account with one spouse working and the other staying at home to raise the kids. After a divorce, those plans change. The spouse with the retirement account may have to surrender a portion of it while the spouse who stayed at home has to plan for the future accordingly. Both parties may need to look for new ways to save for life after 65.

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 Posted on September 13, 2019 in Child Custody

It’s entirely natural to worry about how your divorce might affect your relationship with your children. Are you worried that not being with your children every day ultimately means that you’ll grow apart? Isn’t that what always happens?

No, not really. In fact, many people become better parents after their divorce — even though they were already good parents before! Here’s why you might find it easier to parent after your divorce:

1. You’re happier

Being in an unhappy marriage makes for unhappy people. Once your divorce is final, you’ll be able to reclaim your individuality and move on. As you feel happier about your life, that can positively change the dynamics of your relationship with your child.

2. Your energy isn’t being wasted

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 Posted on September 06, 2019 in Family Law

However it happened, you’ve come to suspect that the child you’re financially supporting through court-ordered payments isn’t biologically related to you. Is it possible to end your support payments — or are you simply stuck?

Texas does sometimes allow a man to petition the court to terminate the parent-child relationship if their biological tie is questionable. It’s important to understand, however, that mistaken paternity claims are not always simple cases — even if you turn out not to be the child’s biological father.

What are some of the rules regarding termination of paternity?

To proceed with the case, you generally only have a year in which to act on the information that has caused you to question your paternity. In addition, you must:

● Not have signed an agreement stating your intent to establish paternity through adoption, in-vitro, artificial insemination or other assisted reproductive methods

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 Posted on August 28, 2019 in Family Law

Texas is what is known as a “community property state.” In short, that means that most assets that you acquire following your marriage belong equally to you and your spouse. Assets you acquired prior to the marriage is usually considered separate property and not subject to division in divorce.

Of course, there are always exceptions and that rule may not be as simple as it seems. For example, consider this situation:

You own a home before you even met your spouse. You marry but never put your spouse’s name on the property. Over the years, you naturally upgrade some items, do some repairs, enhance the property a little in small ways. It’s value grows over time.

Now that your divorce is imminent, is the house really still your separate property? More than likely, the money you used on repairs and upgrades came from marital funds, so the value of those upgrades could be considered community property. The increased value of the property — which occurred as the housing market expanded in your area during your marriage — could also be considered community property.

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 Posted on August 23, 2019 in Divorce

Gray divorces are often rougher than divorces for younger people. Not only has the couple involved reached an age where they likely thought their lives were going to be pretty much settled, but they may have decades invested in their marriage. Further, the financial aftereffects of the divorce can be harsh on older couples and completely derail their retirement plans.

Nonetheless, the rate of gray divorces is rising. The rate of divorce among younger people has dropped 21% in the past 25 years, but the rate for those over the age of 50 has climbed 109%. (For comparison, consider this: The rate of divorce for those in the middle — between 40 and 49 — only rose 14% in the same period.)

If you’re heading toward a gray divorce, keep in mind that Texas is a community property state. However, family court judges have some leeway to distribute assets in an unequal manner. That may be a distinct possibility in a gray divorce if one spouse gave up a career in order to care for the family home and children or has a disability that prevents them from working. This may also happen if you only have one retirement account between you and you focused on building that fund up because you always thought you would share the proceeds.

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 Posted on August 21, 2019 in Firm News

Perhaps you and your spouse are facing divorce after decades of married life. You are in your 50s or 60s now and may not have thought about the many ways this will affect your future.

To begin with, a “gray divorce,” as it is sometimes called, will impact the plans you had for retirement. There will not be as much money to live on as you had hoped, and there are also other concerns.

Dividing assets

Although Texas is a community property state, it follows equitable distribution in terms of divorce. You can expect a fair division of your marital assets, but the divorce will greatly diminish the retirement picture you once had. You will also face tax consequences. For example, you will pay tax on the withdrawal from a 401(k). In fact, if you take an early withdrawal, that amount may be subject to penalties. Another consideration is the marital home. You may think you want to keep it in a divorce settlement, but remember that there will be upkeep to manage, and you will have to pay property taxes. Think about liquid versus illiquid assets in terms of future financial security.

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 Posted on August 16, 2019 in Divorce

As a parent, you don’t want to burden your child with too many details about your divorce. It’s not healthy. Unfortunately, you may also not know exactly what to say to your child about your divorce, either.

If communication between you and your children regarding your divorce seems to be at a standstill, here are some of the things that people say they wish their parents had known to tell them when they were kids and their parents were divorcing:

1. Make sure you tell your children they’re not responsible.

You don’t have to explain in any great detail why you’re getting a divorce. Just explain that Mom and Dad aren’t happy living together. Let your children know that there is nothing they did that caused the divorce — and nothing they could have done to prevent it.

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 Posted on August 09, 2019 in Family Law

Divorce with children involved is always complex — but especially so when that child has special needs.

Under Texas laws, child support doesn’t automatically end when a special needs child turns 18. It can continue indefinitely. That’s why it is particularly important for divorcing couples to plan ahead for a special needs child during their divorce.

Here are some common matters that need to be discussed:

1. Will the child live full-time with one parent? Shared parenting may not be possible with some children, especially if the child doesn’t respond well to changes in location or routine or has specialized medical equipment that needs to be with him or her at all times.
2. How much visitation will the non-custodial parent have if the child lives with the other parent? Will it be on a routine basis according to a planned schedule? Is the other parent open to more liberal visitation? What are the expectations and limits?

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 Posted on August 02, 2019 in Divorce

According to the most recent information available, the average divorce in this country costs right around $15,000. While that sounds like a lot of money, keep in mind the fact that it’s an average — which means that some divorces cost substantially less and others cost a great deal more. How much your divorce ultimately will cost depends a lot on both you and your spouse.

What can make your divorce expenses skyrocket? Here are some of the factors that influence your costs:

• Your location. If you live in an area where property is pricey and you have a lot of assets to divide, legal services may also be more expensive than in other areas.
• Which attorney you hire. If you and your spouse hire attorneys who are dedicated to working toward practical solutions and reasonable results, you can typically expect a less-adversarial process. If one or both attorneys are quite litigious, you may have a much longer and more complicated divorce.

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 Posted on July 23, 2019 in Child Custody

Are you and your ex-spouse fighting over sole custody of your child. While increasingly uncommon, these kinds of battles do happen — especially when one or both parents allege that the other parent is unfit.

At some point, you can usually expect to be faced with a custody evaluation. Here are some tips to help you get through the whole process:

1. Remember that the evaluator is a neutral party

No matter who requested the evaluation, don’t assume that the evaluator will take your side. He or she is only interested in what’s best for the children — so don’t mistake politeness for friendship and don’t overshare your feelings.

2. Stick to the important things

This means under no circumstances should you discuss your relationship with your ex and his or her failings as a romantic partner or spouse. You can discuss, if the evaluator asks, why you think your ex should not have shared physical custody — but focus on his or her shortcomings as a parent.

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