Few couples seeking divorce in the greater Houston area realize that their divorces will most likely never get to the courtroom. Instead, most will participate in one or more formal or informal mediation sessions during their divorce process. This is primarily due to the fact that Houston family courts are backed up with cases and now require divorcing couples to try mediation in order to settle … [Read more...]
The devil is in the details of the new tax law for divorcing couples
Let me just say, it pays to know how the new tax law may impact your divorce this year! Much of the new law, (the "Tax Cuts and Jobs Act"), which both houses of Congress passed on Dec. 20, 2017, goes into effect in 2019. Yet, based on how these laws could impact your divorce in 2019, you may benefit from getting your divorce completed in 2018. There are also some changes that take effect this … [Read more...]
New tax law may impact your divorce in 2018
The ink is barely dry on the "Tax Cuts and Jobs Act" which both houses of Congress passed on Dec. 20, 2017, yet, accountants are scrambling to figure out how the 500-page law will affect their clients this year. Most can't believe this complicated and confusing law is effective immediately. "We don't have a year to figure it out," said one notable tax expert. And some are warning the new law … [Read more...]
Facing divorce? Don’t dread the holidays — prepare instead
If you are considering divorce in 2018, 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, consider focusing now on preparation and planning for what lies ahead. Here are some steps you can take during the holidays that will lay the ground work for a more productive … [Read more...]
Four ways to get divorced in Texas, part 4 — traditional litigation
As I understand it, less than five percent of divorces in Harris County, Texas, actually go to court where a judge makes the final decision. This is likely because in most family law courts in Texas, there is a rule that couples must attend mediation before a trial can be set to decide the case. Many couples soon realize as they go through the divorce process and mediation, that going to court … [Read more...]
Four ways to get divorced, Part 3 — 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 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...]
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...]
Your divorce may require the assistance of a financial expert
Given the complexities of today’s financial landscape, it may be in your best interest to consider securing specific expertise to help you sort out and evaluate the financial aspects of your divorce. One important thing to remember is that most family law attorneys, even when experienced in divorce, are not trained to address financially complicated divorce issues. As a key participant in … [Read more...]
Divorcing couples may qualify for a tax break on home sale gains
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...]