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Patricia Barrett CFP CDFA

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You are here: Home / Archives for divorce in Texas

How a Certified Divorce Financial Analyst can help you

June 30, 2020 By Patricia Barrett

How a Certified Divorce Financial Analyst can help you

It’s often difficult for individuals and couples to fully understand how a Certified Divorce Financial Analyst (CDFA) can assist them in their divorce process. So, I am developing a series of case studies that illustrate how I’ve helped my clients achieve their goals and reach a divorce settlement they are satisfied with.  This divorce case included a prenup, lots of separate property … [Read more...]

Filed Under: Blog, Financial Planning, Financial Planning Articles, Women's Issues for Divorce Tagged With: bonuses and divorce, divorce finances, divorce financial planning, divorce in Texas, divorce prenups, executive compensation benefits and divorce, stock options and divorce, tracing financial accounts in divorces

“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

Frequently Asked Questions About Divorce Financial Planning

May 11, 2020 By Patricia Barrett

Q: Am I responsible for my spouse’s debts even when I had nothing to do with the charges?  A: Debts from before marriage are a person’s separate debt and you wouldn’t be liable; however, if the debt was incurred during the marriage in order to provide necessities like clothing, food, etc. then you too are liable. Read more on divorce and debt, here. Q: Is my IRA community property even though it … [Read more...]

Filed Under: Articles, Divorce FAQs Tagged With: divorce finances, divorce financial analyst, divorce financial planning, divorce in Texas

Address health insurance in divorce settlement

February 5, 2020 By Patricia Barrett

Address health insurance in divorce settlement

Health insurance is the most important kind of insurance coverage a person carries. There are more bankruptcies because of medical bills than from any other cause.   This is an extremely important financial issue for couples facing divorce. Securing health insurance coverage for both spouses, and any children, is clearly something that should be included in a divorce … [Read more...]

Filed Under: Blog, Financial Planning Articles, Women's Issues for Divorce Tagged With: divorce financial planning, divorce in Texas, Divorce Planning, divorce settlement, health insurance and divorce

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

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

October 10, 2019 By Patricia Barrett

Dividing 401(k) savings, corporate benefit 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 a corporate benefits or civil service, 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.  QDROs are documents mandated by federal law under ERISA (Employee Retirement Income Security Act) … [Read more...]

Filed Under: Blog, Financial Planning Tagged With: dividing 401(k)s in divorce, dividing pensions in divorce, divorce finances, divorce financial planning, divorce in Texas

Divorce and a closely held or small business

October 4, 2019 By Patricia Barrett

Divorce and a closely held or small business

Divorce is challenging enough in itself, yet getting to a final settlement can be further complicated if one or both spouses have an ownership interest in a closely held, private or small business. In these cases, the business may be a significant source of income for the family, as well as a potential asset subject to division.  The first step is to determine whether the business interest … [Read more...]

Filed Under: Blog, Financial Planning, Financial Planning Articles Tagged With: divorce financial planning, divorce in Texas, divorce law in Texas

Long-term care insurance and divorce

September 17, 2019 By Patricia Barrett

Long-term care insurance and divorce

Being financially prepared for the possibility that you could require long-term care is an important part of retirement planning. Yet, too many people hope for the best and don’t give this much thought. Our rapidly aging population, lengthening longevity and unpredictable health care costs highlight the need for long-term care insurance. So, couples getting a divorce, especially those approaching … [Read more...]

Filed Under: Blog, Financial Planning Articles, Uncategorized, Women's Issues for Divorce Tagged With: divorce and health insurance, divorce and long-term care, divorce financial planning, divorce in Texas, Divorce Planning, 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

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From Our Blog

Separate Interest Division

Under the separate interest method, the plan is valued as of a certain date and split in two. The Separate Interest owned by the Alternate Payee may then be received by any method she chooses, … [Read More...]

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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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