Texas divorce can illicit many questions, especially about finances. The first thing to understand about this experience is not to panic. Likely, there is no prenuptial agreement on hand that acts as a roadmap as how to navigate these uncharted waters of divorce. Never fear, the legal professionals at the law office of Michael D. Tracton are here to help.
As divorce rates continue to climb, many have been studying what could possibly cause the once happy marriages to dissolve. A recent study polled thousands of Americans married in 2008 or later. What the researchers discovered could be particularly worrisome for couples who spent a large amount of money on their wedding and marriage expenses. The study showed that marriage duration is inversely associated with spending on the engagement ring and wedding.
Pop star Iggy Azalea has recently been served divorce papers in Texas -- yet she claims she has never been married. There is an interesting piece of Texas law that could require that Azalea divide her assets in what would be a high asset divorce.
Wendy Davis' highly publicized divorce was splashed across headlines nationwide. Alongside her ex-husband, they owned Safeco, which they sold to cover their high asset divorce settlement. Now that she is running for governor of Texas, the financial details of the divorce have come under scrutiny.
Divorces can be ugly and happen for a number of different reasons. There can be a lot of information to sift through, especially regarding finances in a high asset divorce. Things like cars, homes, stocks and 401k's may stand out. But what about those important assets with no monetary value? Yes, what about pets? In many states, pets are considered part of the asset division process. However, for particularly rough divorces, especially ones where domestic violence was a contributing factor, the pets may need more protection.
Divorce is a sad, stressful and common occurrence across Texas these days. There are many aspects to consider when filing for divorce. A person's financial well-being may be at the top of that list. This can become even more complicated when a couple has to divide shared marital property in a high asset divorce. Just because there are many assets to be divided doesn't guarantee spousal maintenance or alimony will be paid to the less financially-endowed spouse. However, a change in Texas legislation back in 2011 may make it easier for a spouse to receive spousal maintenance.
Going through a divorce can cause an abundance of stress from many different sources. Let your finances not be a source of the stress. Residents of Texas enduring divorce with high-asset accounts can orchestrate a few simple asset investigations in areas such as investments, value after taxation, and insurance coverage.
Many Texas sports fans were outraged when an NBA team owner was recorded making offensive racist comments. As the fallout continues from that incident, the legal complications have included a glimpse into some little-understood aspects of divorce law.
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.
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?