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Powers Kerr & Rashidi, PLLC
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…
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…
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…
There are many decisions that need to be made when going through a high-asset divorce. Various key issues that divorcing couples face include child custody and support, property and asset division, and spousal support. In addition, even the most “friendly” divorces can suddenly turn contentious when one of these high-priority issues reveal a couple is on opposite ends of the…