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Recent Blog Posts
Assets That May Need To Be Appraised During Divorce
A significant portion of the conflict in many divorce cases stems from the need to divide the entire marital estate evenly. It is not an easy task to accomplish a division that is agreeable to both parties. In many cases, particularly those involving high-net-worth divorce, there is often a dispute as to the value of certain assets. Whether you and your current spouse are preparing for litigation or attempting to settle your divorce through alternative dispute resolution methods, it is necessary to have a concrete valuation for marital assets.
There are several methods for establishing the value of an asset through appraisal. Some spouses mutually agree on an appraiser, while others each have the asset appraised separately and take the average. The method by which you establish the value of an asset can have an important impact on the ultimate outcome of your divorce. An attorney can provide you with more information about valuation methods.
4 Difficult Divorce Situations and How to Handle Them
You may not realize just how complicated or challenging divorce will be until you are in the thick of it. Between conflict with your spouse and the difficulties your children are experiencing, you may find that the path to divorce is rocky. This could be because you have significant marital assets to divide, or because your spouse is mentally ill. Maybe your attempts at resolving your divorce through mediation are going nowhere, or your split is leading to financial difficulties. Whatever difficult divorce situation you are facing, the important thing is to handle it with a clear head instead of giving into emotional reasoning. Your attorney can offer you additional advice that pertains to your particular situation.
Challenging Divorce Situations and Solutions
Some difficult divorce situations people face include:
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High level of conflict - Divorcing a person you can no longer tolerate being in the same room with can be quite challenging. Every mediation session turns into a shouting match. You send your sister to pick up the kids so you do not have to see your spouse. Your ex is disparaging you on social media. One solution - other than going through litigation - is attorney-facilitated negotiation. This way, you never have to deal directly with your spouse; each of you need only communicate with your own lawyer.
Back-to-School Tips for Divorcing Parents
If you are in the process of ending your marriage, there is a good chance that you are beginning to realize that your life is much different compared to when you were married. If you have children, the differences are probably even more notable. For many divorced parents, the first school year after the divorce is the most challenging, as they must establish new routines for their children and boundaries for the parents. When back-to-school season falls in the midst of your divorce, you will need to take steps to ensure that your children have every possible opportunity to succeed.
Figure Out a Way to Cooperate
Every situation is unique, and there is no easy way to decide how you and your spouse will work together regarding school. Decisions regarding child custody or conservatorship may still be pending, so you might both still share decision-making authority for school-related concerns. The best option is for you and your spouse to put your differences aside and to create a plan designed to let your child thrive in the new school year. If this is not possible, you may need to ask the court to issue a temporary order allowing you to make education plans on your own.
Family Debt Could Affect the Well-Being of Your Children
Financial debt is a major cause for concern around the United States, at the individual and family levels, as well as on a collective scale. Families fractured by divorce or other types of similar stresses may be particularly susceptible to growing debt, as financial obligations may be harder to meet on a single income, combined with countless other contributing factors. However, a recent study suggests that parents with certain types of debt may place their children at increased risk for behavioral problems in the future.
Quality of Life Connections
The study was conducted by researchers at the Institute for Research on Poverty at the University of Wisconsin-Madison and looked at data from more than 9,000 children and their mothers over a period of nearly 40 years. The research also categorized debt into four distinct types: home, education, automobile, and unsecured debt, which included credit cards, certain loans, and medical debt. Looking for possible connections, the team also examined the socio-emotional health and behavioral concerns of the participating children.
How Social Media Could Negatively Affect Your Divorce
We all know people who invest substantial time and energy in posting the details of their lives on social media networks such as Facebook, Snapchat, and Instagram. In some situations, the attraction of social media is strong enough that it causes people to lose touch with the things that are happening in real life. While most people are able to use social media in a reasonable way—such as to connect with distant family and friends, others want to broadcast more to the outside world. When you are in the midst of a legal action that affects you personally, such as a divorce, it is important to recognize the dangers of putting your life out there for all to see.
Mixed Messages
The first thing you need to keep in mind about social media and divorce is that literally anything you post could eventually be presented as evidence in your case. Posting on the internet does not require ink and paper, obviously, but emails, text messages, and even screenshots of posts can be printed and presented in court. This is especially important if your social media profiles are at odds with what you have presented in your filings. For example, if you reported in your divorce paperwork that you are currently between jobs, but your profile on LinkedIn says you work for a buddy’s business—maybe under the table—questions are likely to be raised.
Why You Must Take Your Divorce Seriously
If you and your spouse have reached the point where a divorce seems inevitable, you might be inclined to try to get through the process of divorce as quickly as you are able. In fact, a large number of attorneys and law firms seem to suggest that faster is automatically better. However, a quick divorce is not always the best route to take, especially if you and your spouse have accumulated substantial assets or have other complicating factors. It is critical to make sure that each aspect of the divorce is addressed properly, even if doing so means taking a bit more time than you would prefer.
Change Your Way of Thinking
You probably have perfectly valid reasons for wanting your divorce to be finalized quickly. Maybe you met someone and are anxious to start a new relationship. Perhaps, you are just ready to be done with your spouse after many years of fighting and bitterness. Or, maybe the thought of a long divorce just does not sit well with you. Whatever your reasons may be, a fast divorce might be possible, but you must be certain that you are not giving up too much to get there.
When Do Parents Need to Take Steps to Establish Legal Paternity?
When parents are married, a child’s paternity is usually not in doubt. Since a mother’s spouse is presumed to be a child’s parent, a married father will be able to share in child custody if the couple chooses to get a divorce. However, matters related to custody can become more complicated if a couple is unmarried, and in these situations, fathers may need to establish paternity. This will ensure that both parents will have the obligation to provide child support and meet their children’s financial needs. For unmarried parents, it is important to understand when paternity may need to be established and the procedures for doing so.
Presumption of Paternity in Texas
There are certain situations where a man will be legally presumed to be the father of a child. This means that regardless of whether the parents remain married, are in an unmarried relationship, or are separated or divorced, the father will have the right to share child custody. Depending on agreements between the parents or decisions made in family court, a father may participate in making decisions about how children will be raised (known as legal custody or conservatorship), and he will have the right to reasonable possession and access of the child (visitation). He will also have the obligation to financially support the child, or if he has primary physical custody, he may receive child support from the child’s mother.
What Rights Do Parents Have as Conservators of Their Children?
There are multiple types of situations where parents will need to address child custody issues. While this is most commonly a factor in divorce proceedings, parents who are unmarried may also need to determine how they will share custody of their children. In Texas, the legal custody of children is known as “conservatorship,” and parents will need to understand the rights and obligations that will apply to them, including in situations where parents are named as joint managing conservators or when one parent will have sole conservatorship of their children.
Rights of Sole or Joint Conservators
In most cases, family courts presume that it is best for parents to share joint conservatorship. However, there are some situations where sole conservatorship may be appropriate, including when one parent has not been closely involved in children's lives, or when a parent lives in another state. Even if one parent is named the sole managing conservator, the other parent may be named a possessory conservator, allowing them to spend regular visitation time with their children.
How Is the Amount of Spousal Maintenance Payments Determined?
During a couple's divorce, one party may ask for financial support from their former partner. This form of support is officially known as spousal maintenance in Texas, although it can also be referred to as alimony or spousal support. Maintenance will not be an issue that will be addressed in every divorce, but it may be a factor in cases where one spouse earns most or all of the income used to provide for a family's needs, especially if the other spouse may struggle to support themselves while also caring for children or other family members. In cases where spousal support is appropriate, the parties will need to understand how the amount that one spouse will pay to the other will be determined.
Factors Used to Determine Spousal Support Payments
Generally, spousal maintenance will only be awarded in a small number of situations. These may include cases where a spouse has a disability that prevents them from earning an income or devotes their time to caring for a child with a disability. If these issues are not a factor, spousal support will usually only be granted if a couple was married for at least 10 years and a spouse will be unable to support themselves financially, such as when a spouse has been a homemaker for the majority of the couple's marriage.
5 Types of Valuable Assets to Consider in a High Net Worth Divorce
Couples that choose to end their marriage and get a divorce will need to address a variety of issues related to their property and finances, their children, and other areas of their lives. While these issues can be complicated in any situation, those who are involved in a high asset divorce may need to deal with multiple types of complex assets. By understanding the types of marital property that may need to be considered during the divorce process, couples with a high net worth can make sure they are approaching financial matters correctly.
Addressing and Dividing Complex Assets
For divorcing couples who reside in the state of Texas, community property must be divided in a matter that is “just and right.” Community property includes all assets and debts acquired by either spouse while they were married. In high net worth divorce cases, a couple may need to consider complex assets, including:
Finding The Right Attorney Matters. Contact Us Today.
A family lawyer does much more than simply provide legal answers. Our lawyers explore a variety of different solutions to help you achieve your goals and secure your family's financial and emotional future and stability.
To discuss your case or set up a consultation, call us at 972-562-9890 or use the online contact form.
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