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April 2014 Archives

Walmart heiress files for extremely high asset divorce

In every Texas divorce, the parties must divide their assets. It's never an easy or particularly pleasant task, and every case is different, but as a general rule the more complex the assets, the more complex the division process. For this reason, high asset divorce is often more difficult and time-consuming than divorce for lower-income people.

Divorce disputes over pets becoming more common

Many Texans are very emotionally attached to their pets, and consider them a part of the family. However, for the purposes of divorce, Texas courts consider pets to be property. In the divorce process, the parties typically must reach agreement on who will keep the pets, and pets may even become bargaining chips in the high-stakes property division process within a high net worth divorce.

No-fault divorce doesn't mean it's a cakewalk in Texas

For previous generations of Texans, divorce was extremely difficult. The parties typically had to present evidence as grounds for divorce, such as infidelity or cruelty, and the whole process took many of the procedures of a criminal trial. The advent of no-fault divorce significantly streamlined the process, and new methods such as mediation and collaborative divorce helped many people to avoid the acrimony that can come with a divorce.

Changing laws of same-sex marriage leave divorces in limbo

The status of same-sex marriage is changing rapidly, with increasing numbers of states legalizing the practice. Texas' own same-sex marriage ban is in limbo after a federal judge ruled it unconstitutional. Meanwhile, last year's Supreme Court decision striking down key parts of the federal Defense of Marriage Act helped to improve the legal status of married same-sex couples even in states that don't yet legally recognize the practice. Still, the legal status of these couples in many states is anything but clear should they decide to divorce.

Many married Texans know little of spouse's finances

Under Texas law, when a married couple divorces, the parties must list all their assets. From there, they begin the process of property division by dividing personal property from marital property. From there, the parties divide the marital property according to state law.

Trash-talking an ex during divorce can hurt a settlement

Texas residents who are going through a divorce are probably getting used to people telling them to refrain from saying anything bad about their ex in public. This often repeated bit of advice is a good one, especially when the divorcing couple are parents. However, there is another reason to avoid overdoing it on the trash talk: It could hurt one's chances for a favorable divorce settlement.

Divorce, "conscious uncoupling" and child custody

Many people rolled their eyes when they heard that actress Gwyneth Paltrow had described her impending divorce as a "conscious uncoupling." The Oscar-winning actress has been widely criticized in recent years for her real-life role as a kind of lifestyle guru. For people who can't stand her website Goop, Paltrow's choice of words seemed unbearably pretentious.

Negotiation is key to resolving disputes over finances and Fido

When Texas residents go through a divorce, they must divide they must divide their community property - including bank accounts, real estate and other assets acquired during the marriage. If they have minor children, they must sort out all issues of child custody. But who gets to keep the dog?

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Law Office of Michael D. Tracton, P.C.

12920 Dairy Ashford Road
Suite 140
Sugar Land, TX 77478

Phone: 281-201-1481
Fax: 281-242-2325
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