Couples facing divorce may want to explore a relatively new option for legally ending marriage in Texas called Collaborative Divorce. This very distinct model emphasizes cooperation over confrontation, and problem-solving over grievance-airing. It was developed as a way to reduce conflict and the emotional anguish of a traditional divorce process, especially when children are involved. In the … [Read more...]
Four Ways to Get Divorced, Part 2 — Early Intervention or Cooperative Divorce Mediation
Traditional divorce and child custody processes are predominately adversarial in nature. In a typical "war-of-the-roses" divorce scenario, spouses each hire an attorney, and then a variety of expert consultants enter the fray on both sides to produce "dueling" business evaluations, financial analyses and/or custody evaluations. This type of divorce can go on for many months or even years, … [Read more...]
Four Ways to Get a Divorce, Part 1
Once you have decided to get a divorce, another very important decision awaits you and your spouse: which path are you going to take to secure that divorce? This may surprise you, but in Texas, you have a choice in how you get divorced. However, how you get divorced can be more important, or at least just as important, as your decision to seek divorce in the first place. So, I will be outlining … [Read more...]
What happens to the family home in a divorce?
The question of what happens to the house in a divorce 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 clients to set aside emotions and consider all the significant, interrelated factors before they decide on what happens to the house. Consider the … [Read more...]
Research and reflect on divorce before you file
Still considering divorce, but not yet ready to file? In my experience, the most prepared couples who divorce, have reflected on the decision over many months or even years. So, if you find yourself thinking about divorce, know that you are not alone. Yet, also realize that being stuck in between is nowhere to be either. Here are some questions from a psychotherapist to ask yourself if you are … [Read more...]
Watch for “Sudden Income Deficit Syndrome” if your soon-to-be Ex owns a business
My experience working with divorcing couples has taught me a few things. For one, I expect each spouse to focus on his and her own financial self-preservation, which is understandable. Quite often, though, the husband transitions into this mind-set long before the wife does -- sometimes even before the divorce papers have been filed. This can and does leave many women vulnerable to some financial … [Read more...]
Looking for clues of bad behavior during divorce (part two)
In part one of our blog post with this headline, we discussed a variety of red flags to look for during the divorce process that may indicate a spouse is behaving badly. We also offered tips to better protect yourself against such behavior, as well as how to educate yourself about the divorce process and what to expect. In this blog post, we will take our examination of bad behavior during … [Read more...]
Dying Before the Divorce is Final
Do You Want To Leave Your Property To Your Spouse If You Die Before Your Divorce Becomes Final? Filing for divorce does not remove your spouse from your will as a beneficiary or an executor. You will have to wait until your divorce becomes final to remove your spouse from your will. Unless you want to take the chance on leaving your property to your spouse, you need to revoke your present will … [Read more...]
Estate Plan Modifications & Divorcing
Why You Should Not Wait Until You Are Divorced To Modify Your Estate Plan There is also a financial reason for changing your estate plan now. For example, let’s say you spend $500 for an estate plan. The estate plan is not an asset for the purposes of dividing the property in your divorce. What happens if you purchase a television for $500 instead of changing your estate plan during the divorce … [Read more...]
Financial Decisions and Incapacitation
Who Will Make Financial Decisions For You If You Become Incapacitated? If you have a durable power of attorney in your will, your spouse’s right to make financial decisions for you under the durable power of attorney is not revoked by filing for divorce. If this is not what you desire, make sure you update your will accordingly. You should revoke the present durable power of attorney, and name … [Read more...]
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