Skilled counsel keeps a high asset divorce under control

Apr 21 2018 - Posted by , in High Asset Divorce

On behalf of The Lincoln Law Firm, PLLC posted in High Asset Divorce on Wednesday, September 10, 2014. There is much at stake in any divorce, but a high asset divorce is a financially-complex situation that can easily veer out-of-control. Residents of Houston have likely seen the countless headlines spawned by the types of splits that affect celebrities, businesspersons and the like: disputed, heated and sometimes dragging-on forever. In a high asset divorce, it’s especially important to secure trusted counsel from …

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Reasons to get a business valuation during divorce

Apr 4 2017 - Posted by , in Business Assets, High Asset Divorce

If you own a business with your spouse and are getting divorced, you probably need a business valuation. Unless you and your spouse are totally amicable and willing to continue co-owning the business, your other options require determining its value. Here are two main reasons you might need a business valuation during your divorce.  You want to sell the business Sometimes the best option for dealing with the family business is selling it. This allows you and your ex to …

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Divorce Requirements in Texas

Feb 15 2017 - Posted by , in High Asset Divorce

Once you have decided to get out of a bad marriage, it’s time to start the actual process of divorce that would separate you from your spouse in the eyes of the law. In Texas, one of the spouses has to be a legal resident of the state for at least six months in order to file for divorce. Also, the person needs to have resided in the country for a full 90 days before filing the …

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Preparing for a High Asset Divorce

Feb 13 2017 - Posted by , in High Asset Divorce

Divorces are rarely pleasant experiences, and the level of animosity rises when there is a great deal of money at stake. That is why certain preparations need to be made to ensure you get your share from the divorce proceedings. Sift through the records of your marriage, such as photos, receipts and other assets you own. If you have made any expensive purchases, make sure you carry the full documents relating to the buy. Keep …

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Divorcing later in life can lead to some complicated issues

Feb 2 2017 - Posted by , in High Asset Divorce

With many in the Houston area growing older, people may feel like they would like to make a new start with the time they have left. Divorce among older couples is on the rise, but that can lead to problems for these spouses. In many divorce situations, especially among older people, one spouse, typically the woman, has not worked in a significant amount of time. A divorce can complicate the finances of those who have not worked. …

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Financial considerations during and after the divorce process

Jan 27 2017 - Posted by , in High Asset Divorce

There is no doubt that divorce impacts all affected parties emotionally, physically and financially. Unfortunately, because no two divorces are exactly alike, there is no “rule book” that spouses can follow in the wake of a decision to divorce in order to guarantee that they will emerge from the process emotionally, physically with financially stability. However, there are several considerations that individuals can contemplate and act upon in order to better ensure that their finances remain …

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New bill challenges no-fault grounds for divorce

Jan 21 2017 - Posted by , in High Asset Divorce

When a Houston couple decides to end its marriage the parties to the union may do so either based on fault grounds or through a no-fault divorce. Fault grounds, which include but are not limited to adultery, cruelty, conviction of a felony and abandonment, demonstrate that the actions of one of the parties led to the deterioration of the marital relationship. No-fault grounds, on the other hand, simply suggest that the couple wants to end …

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Child support delinquency punishable by stopping car registration

Jan 20 2017 - Posted by , in High Asset Divorce

In Texas, when a couple that has ended a marriage or relationship shares a child, in general there will be an order of child support from the noncustodial parent to the custodial parent. This is not done as a way of punishment, but to ensure that the child is cared for properly with all of his or her needs provided for. Unfortunately, there are times when the payments are not made on time or in …

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5 tax implications to consider during a divorce

Jan 19 2017 - Posted by , in High Asset Divorce

When people think about divorce, they often focus on the emotional toll it can take. As a result, financial and tax considerations might take a backseat to resolving these matters.  In many divorces, particularly those involving high-value assets, lack of proper focus on property division may lead to costly tax errors. It is vital for spouses to fully understand tax implications during a divorce, as seemingly minor decisions can lead to future complications. Below are …

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Understanding UIFSA for child support in Texas

Jan 8 2017 - Posted by , in High Asset Divorce

When a Texas couple divorces, there are times when one former spouse will move to another state. If this is the case and there is child support that must be paid, some people may be confused as to how this is handled under the law. This is where the Uniform Interstate Family Support Act (UIFSA) comes in. UIFSA was enacted for child support to be collected across state lines. Knowing how this works can help …

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