With Strength And Compassion
With the possible exception of the marital residence, a retirement account is typically the largest asset in a high net worth divorce. After years of saving and planning, it can be quite disconcerting to learn that a retirement nest egg is divisible just like any other marital asset. But, from both a legal and practical perspective, both spouses have made…
Texas is a no-fault state, and the vast majority of divorces are based on “insupportability,” which is Texan for “irreconcilable differences.” However, a spouse may still obtain a divorce based on adultery, cruelty, or some other evidence-based ground. An adverse ruling – or a favorable ruling, depending on your point of view – can have a significant impact on a…
It is that time of the year again—tax season. Filing income taxes can be stressful and difficult, but if you have recently gone through or plan on going through a high-asset divorce, those difficulties can be amplified by your divorce settlement type. Exemptions for Dependents In regards to income taxes, the dependency exemption and child tax credit are very important.…
Society today exhibits an insatiable appetite to learn the details of the lives of those who are in the public eye—be they celebrities, professional athletes, or high-powered business executives. This is evident by the number of tabloids one can find at any supermarket checkout, with headlines screaming rumors and innuendos. This type of invasion of privacy can also occur for…
Hiding assets from another spouse is an all too common scenario in high-asset divorces. Often, the offending spouse feels he or she is entitled to those assets and the other spouse is not. Hiding assets in a divorce is against the law; however, even that fact does not deter an unscrupulous spouse from keeping the other spouse from his or her…
Couples going through high-asset divorces are often faced with complex property decisions, and this is especially true for Texans in high-asset divorces. Texas is a community-property state; hence, any property purchased during a marriage is part of the marital estate and is subject to being divided. Therefore, it is important to consider how a divorcing couple’s real estate may be divided. In order…
When involved in a high-asset divorce, there are key issues which top the list of importance. Child custody may be number one if a divorcing couple has young children. However, for divorcing couples who either do not have children or have children who are grown, their number one priority often involves finances. Texas is a community property state. This means that…
A recent survey suggests that couples who share financial decisions are happier than couples where only one partner handles all money matters. Sharing those financial decisions also makes it more difficult for one spouse to hide money from the other, which often helps with negotiations during high-asset divorces. The survey involved just over 2,500 participants who were either married or…
There have been numerous studies done regarding the effects that divorce has on children. Several studies have concluded the negative impact parents breaking up have on children. However, a new study has found that it is actually children of high asset divorces who suffer the most from their parents’ breakup. A team of researchers from Georgetown University and the University…
Every day in this country, three women die because of domestic violence. Every year, more than 10 million women and men are victims of domestic violence—that is 20 victims per minute. One in three women and one in four men have been victims of domestic violence. October is domestic violence awareness month. One of the things we need to be…