With Strength And Compassion
Powers Kerr & Rashidi, PLLC
One of the largest assets to divide in a high-asset divorce is also one of the most difficult ones to value. Because it contains both objective and subjective financial values, and may involve both separate and community property, valuing a business is a very deliberate process that nearly always involves considerable legal debate. Some Examples The court-ordered sale of the…
Two or three generations ago, divorce was not a realistic option for most people, due largely to moral, religious, and economic reasons. This was especially true for those over 50. Instead, many couples opted to lead separate lives, and perhaps even lived in separate households, but remained legally married. However, divorce lost much of its moral stigma in the 1970s,…
To determine the amount of child support, the judge mechanically applies the guidelines in Chapter 154 of the Family Code, at least in the vast majority of cases. However, especially if there is a complex child custody dispute, these guidelines are not always reflective of the child’s needs. What must a party do to convince a judge to depart from…
The Internal Revenue Service recently released supplemental guidelines regarding spousal support payments and income tax consequences. These payments are tax-deductible, but the IRS will scrutinize the deduction to ensure that the tax return meets certain qualifications. An obligor spouse must make payments in cash or cash equivalent directly to the obligee spouse; these payments are specifically designated as “maintenance” in…
In July 2015, a Bexar County district judge gave the green light for a same-sex divorce to proceed through the system. The case has enormous implications for high asset divorce cases in Travis County and elsewhere in Central Texas. The women legally married in Washington in 2010, and subsequently settled in the San Antonio area. One partner was artificially inseminated…
Paternity is one of the most important concepts in the Texas Family Code. For mothers, it helps guarantee financial support for their children. For fathers, paternity is the only way to legally share in their children’s lives; moreover, in most cases, only legal fathers can petition for child custody. Finally, for children, a paternity action gives the feeling that they…
When asked for a quick definition of collaborative law, many attorneys may say something like “ongoing mediation.” Although this synonym is not entirely inaccurate, it does not capture the essence of collaborative law nor does it explain why it is a viable alternative, at least in many cases. To briefly summarize, collaborative lawyers work with the parties to resolve property…
Purchasing a car is nearly always a happy experience. Buyers are understandably focused on the cars’ features and their plans for years of freedom on the open road. Auto insurance is only a necessary afterthought. In some ways, marriage is much the same. The bride and groom are understandably focused on their love for each other and their plans for…
All parents share a common goal: the best interests of the children. That being said, parents often have very different opinions of what is “best.” Moreover, they often sharply disagree as to the methods used to achieve that common goal. In terms of their approach, many lawyers are far too aggressive in child custody disputes. A court hearing is unlike…
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…