Couples divorcing in Austin, Round Rock, Cedar Park, Georgetown and San Marcos will need to divide up property and assets. This process can quickly become contentious and messy, and it can have a big financial impact on your life. Just recently, the news has been full of reports of one of the largest divorce settlements in U.S. history. An oil tycoon was ordered to pay his ex close to $1 billion as part of their divorce,...
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Afamily law attorney knows that many complicated issues generally arise during the process of ending a marriage. One of the biggest questions many couples face is what to do about a shared family home. For most people, their home is the biggest asset they will divide. It is also an asset that many couples have a shared mortgage on, which complicates things further. Recently, the Wall Street Journal published a comprehensive article on some of...
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The process of getting a divorce can be very stressful, if you let it. The long-term impacts of the stress from your divorce can be damaging to your health and can make it more difficult for you to move on with your life. A family law lawyer can help make the process easier for you by negotiating a settlement on your behalf, advising you of your rights and representing you in court. However, you will...
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After a death occurs, the will must be probated. This means that the executor of the estate must go to court, and the will must be validated. The estate must be valued, creditors paid off and taxes paid. The remaining value of the estate must be distributed according to the terms of the will. The process of probate should be relatively simple, but unfortunately things can quickly become complicated. A probate attorney knows that probate...
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Divorce is difficult for anyone, but those who are religious can face added challenges because their religious faith may discourage divorce or otherwise consider divorce to be against the faith. The reality is, divorce happens to around 50 percent of couples and no one of any religious faith should stay trapped in a bad marriage because of their beliefs. Many in the Catholic church are recognizing this reality, and there is a serious effort to...
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Recently, the New York Times published an article by a divorced author who indicated that divorced parents have "lost their rights." The author indicated that "American courts consistently refuse to entertain child-rearing disputes between married parents," but that divorced parents routinely sue each other over child care matters. The result of this is that important decisions are made by courts that should be made by divorced parents working together. While it is true that parents can...
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Many people consider creating a trust to avoid probate and to reduce the potential that their estate will be subject to taxes after death. Recently, Forbes looked at the question of whether it actually makes sense for many individuals and families to have a trust. The answer to whether you should create a trust or not is going to be specific to your situation, but you need to make the decision to create a trust...
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Getting a divorce can be a stressful experience, especially if only one spouse wants to end the marriage. As a recent article on Psych Central explained, it is essential for the person who wants the divorce to be honest and upfront with his or her spouse and to be clear about all intentions. Trying to be too nice or sending mixed signals can be harmful for all parties involved. One of the best ways to ensure...
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Because Texas is a community property state, debt acquired during marriage is generally considered to belong equally to both spouses. This is true no matter who acquires the debt. Unfortunately, the outcome is that you could become responsible for your ex-husband or ex-wife's debts. A divorce settlement does not necessarily protect you from being forced to pay the bills as a recent CNN article pointed out. You need to understand the rules for shared responsibility...
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Bitcoin is an electronic alternative currency that has been growing in popularity. Unfortunately, the electronic currency can be harder to trace than traditional money and thus there is a growing concern that Bitcoin could be used to hide assets during the process of divorce. When a couple separates and dissolves their marriage, a detailed accounting of their assets must be obtained so that a fair divorce settlement can be reached. If one spouse hides money or...
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