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Powers Kerr & Rashidi, PLLC
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…
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…
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…
One of the most difficult decisions, and the most important, that needs to be made during a complex divorce is how will child custody be divided. There are several different options to that question – including sole or shared custody – but the final outcome is decided and approved by the court. At one time, it was pretty much the…
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.…
Ending a marriage is difficult enough without having to sacrifice time with children—but given that nearly 50 percent of marriages end in divorce, custody battles are common in the United States. Moreover, even those who have never experienced divorce can sympathize with parents who face complex child custody battles. Home State Ruling One of the most important legal aspects of child custody is…
Divorces can quickly turn into stressful battles. Ending a marriage is an emotional hurdle, and spouses may have to adjust to new social circles. Additionally, some couples must deal with the complications of property division, child custody, alimony, and other areas of divorce law. Although no divorce is easy, understanding how the laws relate to your case can make the process…
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…
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…