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divorce Archives

Understanding how alimony can impact finances after divorce

As Texas couples prepare to end a marriage, they are faced with a multitude of important decisions that must be made in a relatively short period of time, and often under stressful circumstances. Many of those decisions are related to financial matters. The choices made during a divorce have the power to shape the financial future of both spouses. One commonly overlooked topic is how alimony payments will factor into post-divorce budgeting.

Prenups, divorce and estate planning all interconnected

Many Texas residents are aware of the recent passing of controversial media mogul Hugh Hefner. The 91-year-old founder of Playboy magazine lived a long life that was largely defined by his drive to create an enduring presence in the publishing world. Many of his personal choices were also called into question over the years. After two previous divorce experiences, Hefner was married to his third wife at the time of his death.

Understanding the tax ramifications of divorce

As Texas residents move through the process of ending their marriage, one of the things that is most often overlooked involves how one's tax landscape will change once the process is finalized. There are a number of important changes that will affect each spouse's tax obligations. Understanding those changes early in the divorce process can make it easier to negotiate.

Do divorce courts really know what is best for your children?

More than likely, Texas parents who decide to end their marriages do so because the conflicts between them have become too much to sustain the relationship. They decide to go their own ways and file for divorce. As part of the divorce process, they need to determine how custody and visitation will be handled.

You may need this information for a parenting plan in a divorce

If you rely on a Texas court to make decisions regarding your children as you and the other parent part ways, it will use the "best interests of the children" standard to make its decisions. Even if you intend to work things out outside the courtroom, any agreement you come to will still require the approval of the court, which will still apply this standard. Understanding what this means for you during your divorce could help you and the other parent when creating a parenting plan.

Don't believe what you hear when it comes to a Texas divorce

When a couple decides to end their marriage, family, friends and even acquaintances may offer unsolicited advice regarding what comes next. The problem is that much of this information may not be correct, especially when it comes to dividing property since Texas is a community property state. This means that each party owns the marital assets jointly. Before taking any further steps in a divorce, it may be beneficial to separate fact from fiction.

Excluding the other spouse in a divorce involving a business

Texas is a community property state. This means that if a business owner becomes involved in a divorce, the other spouse may be entitled to a portion. In order to avoid this eventuality, the owner may want to take certain measures to retain his or her interest in the business as separate property, which would then not be subject to division in the divorce.

Vernier & Associates, PLLC Vernier & Associates, PLLC

Vernier & Associates, PLLC
2441 High Timbers Drive Suite 110
The Woodlands, TX 77380

Phone: 281-882-3271
Fax: 832-585-0955

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