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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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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Texas lawmaker wants to end no-fault divorce

Jan 6 2017 - Posted by , in High Asset Divorce

Those who have gone through dissolution in Texas know how emotional and stressful the whole process can be. When a couple is going through the end of a marriage, they can choose to list why the it is necessary or have it be listed as a no-fault divorce. A Fort Worth lawmaker is seeking to end the no-fault divorce option for Texas couples. A no-fault divorce option is one where the couple agrees neither one is …

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