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Posts tagged "divorce"

How to divide debt in a Texas divorce

Wouldn't it be great if there was no debt to be settled during divorce? If the credit card or loan is filed jointly, then each party is equally on the hook for that outstanding debt. Creditors do not care about divorce decrees, so it is best to plan ahead for worst case scenarios when and if an ex-spouse doesn't pay. Here are some things to know about debt and how to protect oneself during and after a high asset divorce.

How to protect personal information during a divorce

According to recent study done by McAfee, 96% of married couples trust their significant other with passwords, intimate photos and other personal content. But what happens when trusting spouses decide to divorce? Only 32% of people polled asked an ex to delete that type of personal information after a break-up. In today's age of technology it's becoming even easier for personal information to be leaked or stolen. Texans should understand how to protect their personal information during a high asset divorce.

Pets usually counted in property division- now protected in Texas

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.

Same-sex marriage not recognized in Texas, impossible to divorce

Same-sex marriage is an evolving issue across the United States. Just a decade ago, same-sex marriage wasn't recognized in any state. Now, same-sex marriages are recognized in a handful of states, and growing. While couples have flocked to these states to legally wed, once they return to their home states where their marriage isn't recognized, there have been discrepancies that they may not have foreseen. Such is the case for a woman who wants a divorce from her same-sex marriage legalized in Washington in 2010.

Collaborative divorce available in Texas

Divorce causes serious financial, emotional and family strain. When two people divorce, the lives of the couple divorcing, and anyone connected to the couple, are uprooted. When there are high assets involved in the divorce, it can be in the best interests of everyone, if a collaborative divorce approach is utilized. Such divorce filing is possible in Texas.

Spousal maintenance, now easier to get in Texas divorce

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.

Community property applies to debt in Texas divorces

When going through a divorce people often wonder what is next in their personal lives. Before beginning a new life, however, divorcing spouses must conclude the old one. This includes the division of marital property. When going through a divorce that has a high net worth, it is especially important to understand financial issues and how assets and debts could be divided between the parties.

Texas fathers denied legal parenthood of biological twins

As gay marriage continues to evolve around the U.S. there are legal situations related to the subject other than if the marriage is legally recognized. There are questions of paternity, divorce, and asset dispersion just to name a few. In the state of Texas gay marriage is not yet recognized by the state. This leaves two gay men, married in Washington D.C., in paternity limbo while their biological twins are not listed as their children on the birth certificates.

Jewel announces divorce from Ty Murray on her blog

When most people think of the divorce of a high-profile couple, they think stress and months of bashing each other in the press. This often happens since famous couple's typically have a high net worth divorce to reckon with. The amount of money and assets to be divided can bring out the worst in people. Such doesn't seem to be the case for singer Jewel and her husband of 16 years, Ty Murray. The couple has resided on a Texas ranch for the past several years with their son and recently announced their plans to divorce.

Texas law sends dad to jail for failing to pay child support

After a divorce is finalized and the details of child custody are decided, many fathers think that the dispute is over. But that is not necessarily the case. Take, a Texas man whose rights as a father and, indeed, his right to freedom may be in jeopardy due to a new law in Texas.

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

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