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Powers Kerr & Rashidi, PLLC
Texas law requires that the property division in a high-asset divorce be a “just and right” division of the estate. Generally, such a division is made along an even or fairly even basis. But that is certainly not always the case, and both parties should be prepared to present a compelling case that protects their individual legal and financial interests,…
Many litigants and practitioners consider these forms of alternative dispute resolution to be similar. There are some commonalities, not the least of which is that they are both negotiation-based, as opposed to litigation-based, methods for dispute resolution. But comparing this alternative to complex property litigation with mediation is a little like comparing this article to William Shakespeare’s literary epic Hamlet:…
Even though a considerable amount of time and effort are poured into complex custody orders, they are not meant to last forever. In fact, as a rule of thumb, most such orders should be modified at least one every three or four years, to keeps pace with a family’s changing needs. Frequent modification is important, because “side agreements” are always…
A Harris County judge ordered the father of Beyoncé Knowles to pay over $120,000 in past-due child support and attorneys’ fees, after a paternity test showed that he sired an out-of-wedlock child in 2010. According to a ruling by state District Judge David D. Farr, Mr. Knowles knew of the pregnancy several years ago and gave $250,000 in “hush money”…
Unmarried women over 50 are nearly five times more likely to live in poverty as married women in that age group, according to a recent divorce study. Researchers from Bowling Green University also found a number of other “wide ranging financial consequences” to divorce in this age group. There are several reasons for this reality. First, according to the study,…
The amount of duration of spousal support payments in a high asset divorce is a matter of both science and art because the relevant provisions in the Texas Family Code contain both a mechanical formula based on the length of the marriage and a guide for the evaluation of case-specific financial and familial data. This combination is a response to…
In many high net worth divorces, assets have an emotional value that is equal to, or even greater than, the monetary value. For example, a house is not just a residence; it is the place where the children grew up. The same principle applies to many personal property items, like grandfather clocks and sets of dishes. Retirement accounts often fall…
Although there is nearly always some overlap, most assets in a high net worth divorce fall into one of two general categories. Some property items, primarily things like securities brokerage accounts and retirement nest eggs, are prized mostly for their economic value. Others, such as a primary residence or vacation property, have a greater emotional value. A family business is…
Could informal marriage be the next big transition in family law? Such relationships are already becoming the norm in many parts of Latin America, and the cultural shift could well follow these immigrants to the Lone Star State. For example, in Columbia, 84 percent of babies are born to unmarried mothers. There are similar statistics in a number of other…
In a development that placed the spotlight back on parental alienation syndrome in complex child custody cases, two missing teenage siblings were recently reunited with their divorced father whom they claimed was physically abusive. The saga began when a Minnesota court granted the girls’ father sole custody in a divorce proceeding. Shortly thereafter, the 16- and 17-year-old girls ran away…