In many divorces, couples end up selling the family home — before, during or shortly after the divorce — in an effort to practically adjust to post-divorce lifestyles and expenses. In order to avoid paying federal income tax on the gain on a home sale, divorcing couples should explore their options — preferably before the divorce is final — to use the federal income tax exclusion. Depending on … [Read more...]
Archives for 2017
When Can a Couple Use One Lawyer?
Nolo.com There's an exception to the rule that one lawyer may not work for both divorcing spouses. Joint representation is allowed when: the clients agree on the major issues the clients are confident they can work out the minor issues the clients understand that the lawyer cannot fully represent both under the circumstances the clients have agreed to this in writing, and the … [Read more...]
What is collaborative divorce in Texas?
Couples facing divorce may want to explore a relatively new option for legally ending marriage in Texas called collaborative divorce. This approach emphasizes cooperation over confrontation, and problem-solving over grievance-airing. It was developed as a way to minimize conflicts and the emotional anguish of a traditional divorce process, especially when children are involved. In a … [Read more...]
Consider insurance needs as part of divorce agreement
Negotiating an equitable divorce agreement can be complicated. There are many issues to consider. In my experience, an often neglected or overlooked area is the insurance needs of both individuals, post-divorce. Both individuals will likely need medical, automobile, homeowner’s/renter’s, life and ideally, long-term care insurance. And if there are any children involved, their insurance needs … [Read more...]
When to Keep Attorneys Out of Divorce?
When getting divorced without a divorce lawyer makes sense -- and when you should hire one. You probably know of people who suffered the "torments of hell" going through divorce, and you also probably know people who pulled it off without much fuss. Why are some divorces sensible and others catastrophic? The answer can depend, to a surprising extent, on just one factor: how much you rely on … [Read more...]
If facing divorce in the New Year, take time now to prepare
If you are considering divorce in 2017, you are probably dreading the approaching holidays. Let’s face it, no one wants to acknowledge marital discord when the theme is “joy” and “good cheer.” As the New Year approaches, you may want to consider focusing now on preparation and planning for what lies ahead. Here are some steps you can take before and during the holidays that will lay the ground … [Read more...]
The ABCs of setting up household finances with a spouse or partner
If you are beginning a new chapter in your life with a spouse or partner, jointly managing your money may be the last thing on your minds. But it should be one of the first things you both consider as you begin to direct your separate finances into a financial plan for the future. Depending on your ages, here are two lists of financial areas that need attention as you begin to plan your life … [Read more...]
Dividing pensions equitably in a divorce can be challenging
If you and your spouse are considering, or are in the process of divorce, and one or both of you has a corporate or civil service pension, understand that all pensions are not created equal. And, that fact is extremely important to consider as you proceed, hopefully, toward an equitable division of your marital estate. In dividing these benefits in a divorce, your attorneys will likely draft a … [Read more...]
Know what your separate property is in a divorce
If you are facing divorce, a significant issue will be determining what is your separate property, what is your spouse’s separate property, and what is community or marital property. This is because family courts in Texas only have jurisdiction to divide what is considered marital property between the parties according to state divorce law. The courts in this state also have jurisdiction to set … [Read more...]
Four Ways to Get a Divorce in Texas
In Texas, there are four methods by which to get a divorce: an Informal Agreement, through a Litigated or Adversarial Divorce, a Collaborative Divorce, or a Cooperative Divorce Mediation. The first step is to file a PETITION with the District Clerk & use any of the following procedures. (The waiting period in Texas is a minimum of 60 days from filing.) 1. Informal Agreement (Usually for … [Read more...]
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