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In Texas divorce cases, child support is often one of the most crucial issues that will need to be addressed. This support will ensure that children will have the financial resources to address their daily needs. However, parents may be unsure about exactly what is covered by child support and whether additional support may be ordered to provide for different…
A divorce will involve multiple different types of financial issues, and child support is one of the key areas that will need to be addressed. These payments will ensure that a parent will be able to provide for children’s needs going forward. However, the amount of child support that is set at the time of a divorce may need to…
Divorcing spouses will need to address many different legal and financial concerns when ending their marriage, and in many cases, a divorce case will become more complex when a couple has children. In addition to determining how they will share child custody, parents should also understand their child support obligations. In cases where a couple has a high net worth,…
When parents in Austin decide to file for divorce and they have minor children together, the divorce process often gets more complicated. These complications tend to be even more amplified in high net worth divorces in Texas where the children attend expensive private schools and participate in high-priced extracurricular activities. For example, in and around Austin, many parents pay for…
If you are planning for a high net worth divorce in Texas and have children from your marriage, you are probably worrying about how they will fare emotionally. Generally speaking, children from higher-income households tend to do better in school and tend to have more educational opportunities. However, according to a recent study, a family’s income level might not be…
Child support in a high asset divorce can work a bit differently than child support for a low-income family or a middle-class family. While Texas’s child support law still applies, the calculation for and amount of child support will likely be quite different. If you are anticipating a high net worth divorce in Austin, Texas, it is important to discuss…
One issue that often comes up in a high asset divorce is how to properly value the “net resources” of a spouse for purposes of calculating child support payments. Texas law requires a court to take into account a wide range of resources, including such things as retirement benefits or annuities payable to the parent required to provide support. That…
When some people think about child support expenses, they only consider the costs related to providing food, clothing, and insurance. However, the reality is that child support awards cover not only a child’s basic needs, but also additional expenses. To learn more about what you could be required to pay in child support, please contact one of our experienced child…
In Texas, parents are obligated to provide financial support for their children. This responsibility does not end when a couple dissolves their marriage or decides to separate. Instead, the non-custodial party will be required to pay child support in an amount determined by the court. When calculating how much a parent will be required to pay, courts take into account…
Whether the terms of a child support order were determined by a judge or a couple came to an agreement outside of court, each spouse is legally required to comply with the order. Parental responsibilities are taken seriously in Texas, so failing to pay child support can have serious consequences, including wage garnishment and jail time. In fact, a recently…