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December 2018 Archives

What happens to your family business when you divorce?

If you and your spouse own a Texas family business and are contemplating divorce, your business likely represents the majority of your marital assets. Consequently, how you “split up” your business will greatly impact your respective post-divorce lives.

Will the court make you pay manimony when you divorce?

As you and your husband go about seeking a Texas divorce, the issue of spousal maintenance may become a big one. While spousal support, which used to go by the name of alimony, traditionally has been paid by former husbands to former wives, this is no longer necessarily true.

Identifying all marital property in a divorce

Going through a divorce can be emotional and overwhelming. On top of starting a new chapter in life, there are many issues that couples must tackle when drafting a divorce settlement. For many couples, dividing the marital property that was accumulated during the marriage may be one of the most difficult tasks. Not only is it hard to part with certain items, but each party must come to the table ready to disclose all martial property and assets that they have. From there, the judge can determine who is entitled to what or the couple may choose to mediate division of property on their own. Either way, it is important to have a full understanding of what marital property entails so that items and assets are not missed.

How a bankruptcy could affect your divorce obligations

The burden of debt can weigh you down, affecting every area of your life. Even your relationships and your physical health may suffer if you are struggling to keep up with your creditors. If your financial difficulties began or worsened after your divorce, you are not alone. Divorce is often the catalyst for a sharp decline in one's standard of living. It is not unusual for this to reach a crisis point within the first few years after a separation.

Do you really own valuable antiques?

If you and your spouse are like most high-asset Texas couples, you probably own several things that you believe to be valuable antiques. If you divorce, the value of these things could account for a large part of your marital property and therefore become important with regard to your property settlement agreement.

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