With Strength And Compassion
Section 6.711(a) of the Texas Family Code mandates that prior to entering a judgment that divides the estate of the parties,” the court must enter affirmative, written findings regarding the value of the community estate’s assets, as well as the value of separate assets. Subsequent case law has made it clear that there cannot be a just and right division…
A retirement plan may be one of the largest assets in the marital estate, especially in a high asset divorce case when the parties have been married for a number of years. Section 7.003 of the Texas Family Code authorizes the judge “to determine the rights of both spouses” with regard to a defined benefit pension plan or a defined…
Quite often, asset and property division involve complex accounting measures in high-asset divorce cases. Assume that Husband owned an investment portfolio prior to the marriage. Initially, he only contributes funds from his separate bank account. As time passes, however, both Husband and Wife begin investing money, and sometimes these funds come from a Wife’s separate bank account. Also assume that…
A premarital agreement can hardly be considered romantic, but it is an important part of a strong marital foundation. Many couples fight over money issues, and although the issue is normally dealing with debt, dealing with large assets can be every bit as stressful. By executing a solid premarital agreement, you can eliminate a potential source of conflict before it…
Current divorce rates have been a recent hot topic. And although these statistics fluctuate, the general consensus is that approximately 40 to 50 percent of first marriages will end in divorce. The failure rate for subsequent marriages is even higher. Most couples who get married believe that it will be “forever.” However, the reality is that couples have a 50-50 shot at…
If you are involved in a high asset divorce that involves complex property litigation, it is essential to have an accurate value of the property since it is all part of the marital estate. The estate will be divided between you and your soon-to-be ex-spouse. Therefore, you will want to ensure that all property, to which you are legally and financially…
According to a study conducted by the Institute for Social and Economic Research (ISER), husbands, especially fathers, benefit much more financially from divorces than wives. The study, Marital Splits and Income Changes over the Longer Term, revealed that when high-asset couples divorce, a husband’s income increases by one-third of what it had been while married. However, a wife in a high-asset divorce can…
When a couple is involved in a complex divorce, there are usually a number of financial assets that need to be divided up between the two. However, financial advisors recommend that people who are involved in high asset divorces really examine the actual worth of the asset they are fighting for or willing to concede to the other party during negotiations.…
A survey conducted by researchers from Tilburg University found that the more power someone has, the more likely he or she is to commit infidelity. Usually, the more power and success a person has, the larger the marital estate is, with many sources of high asset revenue. This is particularly important in a complex divorce where division of those assets…