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The world is dealing with the COVID-19 pandemic and heading into a recession. For a couple in the midst of divorce, the discussion around dividing marital assets and liabilities is now more complicated. Adding to this complication is that one or both spouses may be facing a job loss. If you are currently in a… Read More
Most people who are getting divorced want to end their marriage as efficiently and as cost-effectively as possible. A flat-fee divorce can be a great option for you, if you are looking to get the most “bang for your buck” when hiring a lawyer, provided you and your spouse have reached an agreement on all… Read More
In many divorces, the principal, and sometimes only, asset is the marital residence. Couples typically purchase a residence with some money down and a mortgage that consists of monthly payments comprised of interest and principal. Over time, the part of the payments going toward principal increases and the part going toward interest decreases. This principal… Read More
Deciding to divorce is one of the most difficult decision a person can make. Plano Family Lawyer and GoransonBain Ausley partner, Hayley B. Collins takes you through five tips for individuals contemplating or who are in the divorce process. A quote that I often share with clients going through a divorce when there are minor… Read More
October is National Domestic Violence Awareness Month. Domestic violence affects 1 and in 3 women and 1 in 4 men according to the CDC’s National Center for Injury Prevention and Control. Domestic violence can include physical violence or threats of violence between members of a family or household (codified as “family violence” under the law),… Read More
What classifies property as “complex” in a divorce? Complex property matters include marital assets that require a special expertise or effort in addressing them. This may include business valuation issues, characterization and tracing of assets, closely-held business interests, trust matters, employment benefits and tax issues among many others. I’ve heard that divorces with complex property… Read More
Property issues can be very complex, and this post is designed to give a brief overview of separate and community property in Texas and what is required to prove separate property. Understanding of Community Property and Separate Property The Texas Family Code provides all property owned during the marriage is presumed to be the community… Read More
As a family lawyer, I have learned a leading cause of divorce is financial infidelity and lack of effective communication about finances. In some marriages, one spouse may have little to no knowledge about the health of the couple’s finances, the amount of spending by either spouse or how income is saved or invested. Additionally,… Read More
Money is a central issue in every Texas divorce case. You will need to identify and divide property, allocate debts, and plan for your financial future. This can be a stressful process for anyone, whether you are a financially-savvy businesswoman, or a stay-at-home parent who lacks financial control. This is because our beliefs about money… Read More
When preparing for mediation, attorneys and clients often are focused on the “mechanics of the deal.” Obviously, having a negotiation strategy that you are prepared to implement is the centerpiece of effective mediation. However, all too often a successful strategy that is well implemented leading to an apparent “good deal” is circumvented as the result… Read More
Resolve Alimony Conflicts With the Help of a Divorce Lawyer In most divorce decisions, receiving alimony is conditional. If a certain condition occurs, the alimony payments will end, even if a spouse is supposed to receive it for a longer period of time. When Does Alimony End? While a divorcing couple can agree to any… Read More
Anticipating How Your Spouse Handles Relationship Stress Can Give You the Edge in Divorce Negotiations Have you ever considered how you and your spouse typically resolve conflicts within your relationship? We as Dallas divorce lawyers feel it could be well worth your while to do so, even if the relationship is ending. Why? We live in… Read More
Divorce So, what happens to an LLC interest when the spouses divorce? There is very little case law that deals with divorce and limited liability company interests. Based on current Texas statutory law the only interest that can be owned by “the member’s spouse, to the extent of the spouse’s membership interest, if any, is… Read More
Today, it is not unusual to see a spouse operating a business in the form of a limited liability company or owning an interest in an investment that is a limited liability company (hereafter sometimes referred to as an LLC). This is a relatively recent phenomenon. In 1991 Texas became the 7th state to authorize… Read More
During your divorce, you will be faced with various tax issues and it is important that you explore those issues with an appropriate professional before you start to negotiate your final divorce settlement. Frequently these tax issues are discovered after the settlement has already been negotiated and having to resolve these tax issues post settlement… Read More
It is relatively common for lawyers, when asked whether someone should have a Last Will and Testament, to say something like “if you don’t have a will, Texas has one for you.” The same is true for Marital Property Agreements. When a person says, “I do” to the love of their life, they have just… Read More
How much will my divorce cost? This question is one of the first questions that you will most likely want answered when you are considering filing for a divorce. Unfortunately, the answer is not always simple because the cost of a divorce is driven by many varying factors. One of the most significant factors that… Read More
In 1967, the Beatles asked: “Will you still need me, will you still feed me, when I’m Sixty Four?” Today, Sir Paul, the answer increasingly is “No.” Divorce among older Americans has grown dramatically over the last decades. Trend spotters have dubbed these break-ups “Gray Divorces,” “Empty Nest Divorces,” or “Silver Separations.” According to a… Read More
The original concept behind the Social Security program was to blunt the increasing risks of poverty to the average American worker by providing a modest form of “social insurance” after reaching the age of 65. By 1934, America was in the throes of the longest and most severe economic depression in its history and millions… Read More
The tragic death of actor Phillip Seymour Hoffman due to an apparent overdose of heroin has highlighted the complex issue of addiction and relapse, particularly to opioids. Opioids, whether they are prescription painkillers such as Vicodin or Percocet, or heroin, are extremely addictive, making recovery difficult and relapse easy. Hoffman’s death was so shocking because… Read More
Marriage is an economic relationship as much as a social one. In a divorce, fairly dividing marital assets is one of the most important concerns. Equity in a home is the difference between the market value of the real estate and the amount still owed against it on a mortgage. Equity in a shared home… Read More
As the nation slowly recovers from one of the worst recessions in its history, many people are concerned about how divorce may affect their finances. However, there are options available to help people keep down the costs of divorce and to emerge from divorce with a clear understanding of their assets and debt obligations. While… Read More
News this summer that the 40-year marriage of Al and Tipper Gore is coming to an end underscores a recent trend in American matrimony: couples who have made it through decades of family rearing and career building are parting ways in unprecedented numbers. American baby boomers are splitting up at three times the rate of… Read More
Legislative Changes to the Spousal Maintenance Provisions in the Texas Family Code By Aimee M. Pingenot The provisions regarding spousal maintenance, set forth in Chapter 8 of the Texas Family Code, were radically modified in the most recent legislative session. The new statutes took effect on September 1, 2011 for all cases filed on or… Read More
Even when both spouses are fully cooperative, divorce is often one of the most stressful, difficult experiences that people go through in their lives. When one spouse resorts to trickery and dishonesty, however, the divorce process can be harder still. Unfortunately, perhaps because of the high stakes and surging emotions that divorce often involves, divorcing… Read More