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Patricia Barrett CPA

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You are here: Home / Archives for Articles / Divorce Planning

Divorce Planning

Divorce planning involves consideration of a wide range of issues including parenting and child custody (when children are involved), and often very complex financial matters. We provide expertise in identifying all the issues that need to be discussed and resolved between the parties in such a way that communication is enhanced and better decisions for all can be reached in the process.

We have created a number of articles addressing many of these topics and offer them for your consideration to assist you in preparing for the sometimes lengthy process of preparing for the divorce.

Related Topics:

Ways to get Divorced

“Can I be reimbursed for money my spouse wasted during our marriage?”

June 18, 2020 By Patricia Barrett

“Can I be reimbursed for money my spouse wasted during our marriage?”

In a divorce, identifying, calculating and dividing property and assets can get very complex. Clients often ask me if they can be reimbursed in the divorce settlement for specific unusual, community spending during the marriage, or “waste,” by their soon-to-be-spouse.  In Texas, a law was passed in 2011 to help innocent spouses “reconstitute the community estate” if the … [Read more...]

Filed Under: Blog, Divorce Planning, Financial Planning Tagged With: divorce finances, divorce financial planning, divorce in Texas, reconstitute the community estate, recovering waste spending in a divorce

Facing divorce during COVID-19 (CoronaVirus)? Don’t despair; prepare

April 8, 2020 By Patricia Barrett

Facing divorce during COVID-19 (CoronaVirus)? Don’t despair; prepare

If you were considering divorce in 2020, you may be like many other women now: up to your neck in dealing with COVID-19 (CoronaVirus) in your personal life, and in your work life. You also may be sheltering-in-place with a partner you’d rather not see day-in and day-out. Know that you are not alone! Here are some steps you can take during the stay-at-home mandates that will lay the … [Read more...]

Filed Under: Blog, Divorce Planning, Financial Planning Tagged With: COVID-19 and divorce, divorce and CoronaVirus, divorce financial planning, I want a divorce, Texas divorce

Spousal and Child Support During Divorce

March 2, 2020 By Patricia Barrett

Dealing with the Spouse  It is especially important to be business-like with your spouse, since emotions can interfere with negotiations. Don’t let old battles rekindle. Refuse to continue a meeting that degenerates into a battle. While you want to be clear about what is important to you, try not to make your demands excessive. Never use your children as a pawn to hurt the spouse or draw … [Read more...]

Filed Under: Articles, Blog, children and divorce, Divorce Planning, Divorce Planning, Financial Planning

Dividing 401(k) savings, corporate benefits and pension funds in a divorce

December 11, 2019 By Patricia Barrett

Dividing 401(k) savings, corporate benefits and pension funds in a divorce

If you and your spouse are considering, or are in the process of divorce, and one or both of you has corporate or civil service benefits, or a 401(k) savings and/or pension plan, part of the division of these marital assets will involve the drafting of a QDRO, or Qualified Domestic Relations Order. It is important that you understand how this works. QDROs are documents mandated by federal law … [Read more...]

Filed Under: Blog, Divorce Planning, Financial Planning, Financial Planning Articles Tagged With: divorce finances, divorce financial analyst, divorce financial planning, divorce in Texas, divorce settlement

What happens to the family home in a divorce?

May 24, 2019 By Patricia Barrett

What happens to the family home in a divorce?

The question of what happens to “the house” in a divorce is often one that requires careful consideration. In my experience, this issue is often clouded by emotions that can get in the way of the couple, or one spouse, making the best financial decision. I advise my clients to pause, set aside emotions and objectively consider all the significant, interrelated factors before deciding on what … [Read more...]

Filed Under: Articles, Blog, Divorce Planning, Divorce Planning, Financial Planning, Financial Planning Articles, Women's Issues for Divorce Tagged With: divorce finances, divorce financial analyst, divorce financial planning, divorce in Texas, divorce settlements

Don’t fight over pots and pans

May 4, 2019 By Patricia Barrett

Don’t fight over pots and pans

As a Certified Divorce Financial Analyst, I consider my primary focus to be one of helping divorcing individuals and couples sort out and divide the marital estate in an equitable manner. This typically requires gathering all financial documents and statements with regard to all assets and debts. This includes the couple’s savings accounts, retirement accounts, credit card statements, brokerage … [Read more...]

Filed Under: Articles, Blog, Divorce Planning, Financial Planning Tagged With: certified divorce financial analyst, divorce finances, divorce financial planning, divorce in Texas, divorce settlement

What you may not know about divorce and debt

February 28, 2019 By Patricia Barrett

What you may not know about divorce and debt

The financial aspects of a divorce case involve multiple, interrelated components. All eyes are typically on the couple’s assets and how to equitably divide them in a settlement. Yet, in my view, one area of a couple's financial landscape that warrants equally close consideration during divorce is the couple’s debt.  Get a credit report on yourself and your spouse I recommend ordering a … [Read more...]

Filed Under: Articles, Blog, Divorce Planning, Financial Planning, Financial Planning Articles Tagged With: divorce and debt, divorce finances, divorce financial planning, divorce in Texas, Divorce Planning

What is an equitable divorce settlement?

January 28, 2019 By Patricia Barrett

What is an equitable divorce settlement?

I am often asked to help divorcing individuals and couples determine how to equitably divide their marital estate. This may seem to be cut-and-dry, but it rarely is. For one, many people believe that the court will automatically divide a couple's assets 50/50 in a divorce. This a myth. The Texas Family Code (the laws on divorce) uses the words “just and right” when dividing community assets … [Read more...]

Filed Under: Articles, Blog, Divorce Planning, Divorce Planning, Financial Planning, Financial Planning Articles

Is your spouse hiding assets, income or debt?

January 7, 2019 By Patricia Barrett

Is your spouse hiding assets, income or debt?

I If you are currently in a dysfunctional marriage, or considering divorce, you may be wondering if your spouse could be hiding assets, income or debts from you. Sadly, your fears are not that unusual. In fact, financial mischief is fairly widespread among couples today, even if they are not in the process of divorce.  According to a study conducted by The National Endowment for … [Read more...]

Filed Under: Blog, Divorce Planning, Divorce Planning, Financial Planning, Women's Issues for Divorce Tagged With: divorce finances, divorce financial planning, divorce in Texas, hidden assets in a divorce

Five proven benefits of gratitude — even if you are going through divorce

November 21, 2018 By Patricia Barrett

Five proven benefits of gratitude — even if you are going through divorce

Facing difficult life challenges, such as going through a divorce, may not seem like a logical time to be thankful. Yet studies have shown that cultivating gratitude, even when the chips are down, can have profound impact on our health -- for the better. Gratitude improves physical health. A 2012 study published in Personality and Individual Differences found that grateful people exercise … [Read more...]

Filed Under: Blog, Divorce Planning, Divorce Planning, Women's Issues for Divorce Tagged With: dealing with divorce, divorce in Texas, Divorce Planning, handling stress of divorce, preparing for divorce

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Disclaimer

Information provided in this website is not meant to be construed as legal advice and does not necessarily predict decisions that will eventually be made by a court of law. It is strongly recommended that you consult competent legal advice if your divorce includes children or property issues.

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