Archives for May 2017

You may find yourself with a decision to make after the dust has settled on your divorce. You’ve ended up with a pension from your ex-spouse. The Qualified Domestic Relations Order will instruct the spouse’s employer to carve out your portion of the pension and place it in an account in your own name. You’ll be able to access the pension based on your own date of birth, although you will have to … [Read more...]

Some of us don’t have the option of buying a home during the process of divorce. Financial constraints prevent us from doing so. But, for the fortunate few who have the resources and can afford the down payment, mortgage payments, property taxes and upkeep, careful thought should be given to the decision. Best Advice — Refrain from Making Big Financial Decisions This stressful period during the … [Read more...]

by Amy G. Fearnow, J.D. When you divorce with children in Texas, child support will be a primary area of concern. Child support in Texas is determined by guidelines established in the Texas Family Code. When the obligor (or person paying child support) has monthly net revenues of $7500 or less, the court will presumptively apply the schedule listed below. In the case where the obligor has more … [Read more...]

Good News for the Lower Earning Spouse There is good news for the lower-earning spouse who is worried about receiving her share of the 401k or pension. Thanks to ERISA, special rules exist and eliminate an ex-spouse from standing in the way of receipt. The use of the qualified domestic relations order (QDRO) is based on federal law under ERISA (Employee Retirement Income Security Act) which gives … [Read more...]

Pension Benefit Considerations for a QDRO Review You made it through the negotiations and are ready to move on in your life. As part of the settlement, you are to receive a portion of your spouse’s pension (defined benefit plan). You are presented with a qualified domestic relations order (QDRO) to review. How do you know it is done correctly? Does it protect your share of the future … [Read more...]

No one wants to think about being old and needing constant assistance. No one wants to see their assets depleted by the cost of in-home care or nursing care that lasts for several years. Nor do most people wish to go through divorce. Fortunately, a viable strategy does exist to help supply the needs of both the person needing nursing care and the spouse left in the community. The current … [Read more...]

Texas Alimony Law Now Much Less Restrictive In September, 2011 Texas alimony laws changed dramatically. In the past, alimony (often called spousal maintenance in Texas) was very restrictive. To qualify for alimony a couple had to be married more than ten years, and the maximum payment was $2,500 a month. Payments were allowed for only three years. The old laws could penalize the spouse who had … [Read more...]

As in many states, divorce in Texas is increasingly being resolved through alternative dispute resolution. Alternative dispute resolution allows parties to resolve disagreements without the need for formal court appearances and litigation. Alternative approaches to divorce in Texas include divorce mediation, collaborative divorce, and divorce arbitration. Many people ask what the difference is … [Read more...]

Divorce financial planners are there to make sure that all of the details are taken into account and taken care of for the family during their time of need. While this is certainly a stressful time for everyone involved, the pecuniary aspects of the marriage can be handled with ease by consultants who have the expertise, know-how, experience and education which will allow them to be dedicated to … [Read more...]