With Strength And Compassion
Powers Kerr & Rashidi, PLLC
When a person goes through a high-asset divorce, there are always adjustments that will need to be made—both personally and financially. This can be particularly true if one spouse was the primary or sole breadwinner in the family and the majority of the couple’s income came from that spouse’s earnings. Traditionally, it is the wife who may be hardest hit…
In Texas, there are two ways to file for a high-asset divorce—either via fault or no-fault. A no-fault divorce is one in which neither party is being cited for causing the breakup of a marriage. However, if a spouse files for a divorce based on the “fault” of the other spouse, he or she may use one of the following…
It is all too common, especially in a high-asset divorce, for one spouse to attempt to hide assets and property from the other spouse in an effort to deprive that spouse of his or her fair share of the marital estate. According to one survey, in two out of three marriages, at least one spouse is hiding assets from the…
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…
When married parents are going through a high-asset divorce, two issues that need to be decided are child custody and support. Depending on what the parties agree to, and/or what the court decides, the parent who typically has less physical time with the child will be responsible for paying child support. The purpose of child support is to ensure that…
A common stipulation in high-asset divorces is alimony, also known as spousal maintenance. Alimony is money that one spouse is court-ordered to pay the other spouse. Unlike child support, alimony is completely up to a judge’s discretion. In September 2011, Texas HB 901 amended the rules regarding alimony in this state, including increases to the amount and length of time…
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…
It is a frustrating reality of divorce, but many ex-spouses do not honor the terms of their high-asset divorce settlement, especially when it comes to child support and/or spousal support. After what can be months, or even years, of drawn-out, complex litigation, the support checks the obligor spouse is supposed to pay stop coming, sometimes before the ink is even…