Former NFL star’s Dallas home at center of high asset divorce

Aug 13 2018 - Posted by , in Child Support & Spousal Support, Divorce

The divorce legal issues of high-earning individuals are notoriously complex; for those who hold multiple properties they can be especially tough to navigate. Former NFL star and pro athlete Deion Sanders is still weaving his way through a high asset divorce with his ex-wife. At the conclusion of a high asset divorce settlement, as Sanders has discovered, there are severe consequences that come with not properly following a judge’s orders. As part of his divorce, Sanders had …

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Contemplating divorce? Post-reform taxes deserve consideration

Jul 5 2018 - Posted by , in Divorce

When making a major decision, it’s a bad idea to do it under pressure. That goes for making major purchases in your life, or ending relationships with significant others. You face decisions about your past and your future, and in some instances the future of children. Financial aspects of the dissolution may seem the driest of issues to wade through because of the accounting involved, but they are also among the most important because of …

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‘Internet of things’ may simplify life, but it can complicate divorce

May 24 2018 - Posted by , in Divorce

The internet of things: have you heard of it? Maybe you only know the acronym – IoT. According to proponents, this is the promise of personal empowerment through internet-linked technology. Specifically, IoT represents how, by using network-connected smart devices and our smartphones, we can: secure the front door without using a key; generate a grocery list based on what the refrigerator sees on its shelves; or even install a doorbell with a camera that monitors …

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Does gray divorce carry a gender bias?

May 4 2018 - Posted by , in General

That older couples are divorcing at a higher rate than in the past is clear. We’ve written about this on occasion over the past few years, most recently in February. Data collected by Pew Research Center shows divorce rates doubled for couples 50 and over. If you narrow the age-range to those couples 65 and over, divorce rates have tripled. Experts offer a range of rationales for why. One is that divorce doesn’t carry the …

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What are common co-parenting challenges?

Apr 6 2018 - Posted by , in Co-Parenting

What are common co-parenting challenges?

Parenting can be an enigmatic endeavor. Not long ago, a major national magazine framed the issue clearly. According to general research findings cited in the article, few parents regret having been parents and many single adults regret never having had children. At the same time, however, parenting doesn’t necessarily elicit joy. Many respondents said they don’t like the job. Further, research indicated mothers experience less happiness than fathers, and single parents are even more unhappy. Now, add …

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‘Do’ and ‘Not Do’ tips regarding retirement assets in divorce

Mar 27 2018 - Posted by , in Divorce

The dissolution of a marriage is rarely simple. Legally, ending an average Texas marriage might be easier when the couple is younger. However, because assets accumulate over the course of a union, the process tends to become more complicated if the couple is older. Valuation of real assets, such as homes, requires skill. There are issues of how to divide marital debts to consider. Also, there can be questions of retirement savings. In the past …

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What are some baseline provisions of a Texas co-parenting plan?

Mar 12 2018 - Posted by , in Co-Parenting

Language is dynamic. Once common terms and phrases get replaced by new ones as times change. What was once alimony is now commonly referred to as spousal support. Where children are concerned, what used to be called custody and visitation is often referred to as parenting plans. Not surprisingly, parenting plans today vary according to your family’s unique circumstances. From a legal perspective, nearly any arrangement is possible if both parents agree to it and if …

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The reality of age creep in divorce

Feb 27 2018 - Posted by , in Divorce

For the late, great David Bowie, Golden Years seemed to reflect budding youth. At least that’s the sense of the lyrics he wrote for his hit song by that title. A more traditional interpretation of golden years is that period of retirement – a time to slow down and enjoy life. Happily married couples likely look forward to these years, anticipating doing the things they always talked about, but never did because work, children – …

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Who gets the gun in a divorce?

Aug 31 2017 - Posted by , in Divorce

There are numerous assets often brought up in a divorce. With over 80,000 divorces reported in Texas in 2012, there is a lot for the courts to sort through. That data comes from the Texas Department of State Health Services.  During a divorce, the spouses may worry about who receives what property. This involves the house and the car, but for many couples divorcing in Texas, it also involves guns. It is possible for one person to …

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3 steps to valuing your business during divorce

Aug 31 2017 - Posted by , in Business Assets, Divorce, Property Division

If you own a family business and know divorce is in the near future, you might be wondering what is going to happen to the company. The personal challenges for your emotions and finances are already enough to cause inner turmoil, so what should you do about the business? The most important step to take is getting a business valuation. An accurate picture of the family business and its assets will make the property division process go …

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