With Strength And Compassion
According to a recent study, the more money a couple makes, the less likely they are to divorce. However, when couples who do have a lot of assets decide to divorce, the result often involves complex litigation regarding child custody and support, spousal support, and asset and property division. The study, conducted by researchers from the Department of Economics at Emory…
When a person goes through a high-asset divorce, there are always adjustments that will need to be made—both personally and financially. This can be particularly true if one spouse was the primary or sole breadwinner in the family and the majority of the couple’s income came from that spouse’s earnings. Traditionally, it is the wife who may be hardest hit…
In Texas, there are two ways to file for a high-asset divorce—either via fault or no-fault. A no-fault divorce is one in which neither party is being cited for causing the breakup of a marriage. However, if a spouse files for a divorce based on the “fault” of the other spouse, he or she may use one of the following…
A common stipulation in high-asset divorces is alimony, also known as spousal maintenance. Alimony is money that one spouse is court-ordered to pay the other spouse. Unlike child support, alimony is completely up to a judge’s discretion. In September 2011, Texas HB 901 amended the rules regarding alimony in this state, including increases to the amount and length of time…
According to National Endowment for Financial Education, one-third of people admit to financial infidelity in their marriage. Income, bank accounts, purchases, cash, and other financial information are just some of the items that may be hidden from a spouse. Not only can this have consequences on a marriage, it can also have a direct bearing on any complex divorce settlements should…
A Texas judge recently ruled that the state’s same-sex marriage ban is unconstitutional. In February, a federal judge made the same ruling in a different case, striking down the state’s marriage ban law. The state case involves a couple who were married in Washington D.C. in 2010. One of the women became pregnant via artificial insemination. The baby was born…
Many couples on the brink of divorce will try marriage counseling as a last ditch effort to save the marriage. Quite often, one spouse wants to save the marriage (referred to as “leaning in”) while the other spouse really wants out of the marriage (referred to as “leaning out”). The leaning out partner goes along with the marriage counseling but really…
Although Texas does allow for no-fault divorces, the Texas Family Code also allows for fault ground divorces. One of those grounds is adultery. In TFC 6.003, adultery in a divorce proceeding is defined as “voluntary sexual intercourse of a married person with one not the husband or wife of the offender”. It’s important to note even after the parties have…
On April 25, 2013, Cherilyn Kinney, of Hunt County Texas was granted a divorce from her husband Robert Kinney. The final decree was May 22, 2013. As part of the divorce settlement, Cherilyn was to pay Robert $40,000. This amount was referred to as a debt in the settlement paperwork. The divorce judge gave her six months to pay the…
No matter the circumstances, divorce is a scary and emotional process to go through. After constantly being one-half of a couple for so long, it can be difficult to start fresh and be single again. However, there are several steps you can take to make the transition easier. First, do not waste time with regret. You have no way to…