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Montgomery County Family Law Blog

Searching for hidden assets might be necessary during divorce

People who are married in Texas might end up divorcing for a number of reasons. No matter what the reason may be, though, the lack of trust is usually the common denominator in may divorces. In light of this, some spouses who are going through divorce may suspect that their partners have tried to hide assets from them over the course of their marriage. Fortunately, they can take steps to uncover any assets that may have been hidden from them.

Understanding how married spouses hide assets from each other might be useful for quickly and efficiently unveiling hidden property. In certain cases, spouses assert that they do not have the assets while, in fact, they have hidden them. Other individuals try to give these assets to people outside of the marriage. Still other spouses say that their hidden assets are actually lost, or they might create fake debt.

Divorce can indeed be peaceful

The marital breakup process can be an extremely difficult life transition. This is especially true when the two parties going through divorce are experiencing hurt and if a child is involved. However, a few tips can help divorcing individuals in Texas to keep their divorce processes as peaceful as possible.

First, during the divorce process, it would benefit both parties to try to maintain mutual respect for each other. Of course, this might be challenging, depending on the circumstances surrounding their marital breakup -- for instance, if addiction or infidelity caused the split. However, a long battle in court will only lead to extra financial, physical and emotional strain. For this reason, remaining as civil as possible throughout the divorce proceeding is generally a wise move.

My ex outspends me with the kids

As a parent, you want to provide your kids with the best that you can afford — of everything. But when your ex's spending power significantly eclipses your own, you may feel that what you are able to offer them pales in comparison to your ex's efforts.

While that may be understandable, this is a self-defeating mindset in which to get caught up. While you might not be able to add zeroes to your bank account, there are many different ways to enhance your parenting opportunities with your children — and the costs are minimal.

Communicating with teens valuable following divorce

Ending a marriage in Texas can be hard not only for the adults involved but also for their children. This is particularly the case for divorcing parents whose children are teenagers. However, according to research, parents can keep the lines of communication open with their children following divorce by using texting or FaceTime.

In a recently conducted study, the researchers examined data from hundreds of divorced parents with children ages 10 to 18. They evaluated three co-parenting relationship types: moderately engaged, cooperative and conflictual. They then studied how the relationships between the parents and the children differed in the three situations.

Safeguarding the well-being of the kids during divorce in Texas

Going through the end of a marriage can be a stressful and intimidating experience, especially for kids. After making the decision to divorce, parents in Texas may have concerns about how the process will affect their children and they might wonder what they can do to help them cope with their feelings. While knowing how to talk to the kids about divorce and how to address any issues they may experience can be challenging at times, it could also prove essential to safeguarding their well-being.

Divorce can be tough on kids, and similar concerns may cause them to shut down emotionally. As such, parents may find it vital to ensure their children know they can come to them with any questions or concerns, and keeping the lines of communication open could help ease their suffering. After learning of the divorce, kids may act out in a variety of ways, and parents may find it helpful to be accepting of their feelings and help them work through any challenges.

Business owner divorce requires knowledgeable guidance

America is a land of entrepreneurs. Small businesses are funded almost every day in Texas. Many of these businesses are created by married couples who become the business owners. Some of these businesses fail, and some go on to succeed, sometimes spectacularly. This is the case for Amazon, which was founded by Jeff Bezos and his wife Mackenzie who are now involved in a business owner divorce.

Had Jeff and Mackenzie signed a prenuptial agreement, outlining how future property might be handled in a divorce, the present situation would be vastly different. It is believed that they did not sign such an agreement, and indeed, the idea for Amazon did not happen until after the marriage. This means that Bezos' stock in Amazon, a controlling share amounting to more than 80 million shares, can be deemed community property and subject to an even split in a divorce case.

Why are more older couples choosing divorce?

The process of ending a marriage involves dealing with marital debt, dividing property accumulated during the marriage and much more. It's a complex and often emotionally charged process, especially for those in Texas who have been married for a long time or those with complicated financial situations. This is frequently the case in a gray divorce, which is a divorce involving two people over the age of 50.

The overall divorce rate has fallen over the last few decades, yet the number of gray divorces is on the rise. In fact, one out of every four people currently going through a divorce is over the age of 50. There are many reasons for this, and a longer life expectancy is one of them. People do not want to spend the last 20 or 30 years of their lives in an unhappy marriage. Another reason for the rise of gray divorce is the changing cultural perceptions about the process. 

Divorce mistakes can take a financial toll long term

Finances remain one of the most perplexing areas to address in Texas divorce proceedings. Sadly, financial errors made during the divorce process can end up having serious consequences. Here are two mistakes in particular that are all too common in these types of family law proceedings.

First, perhaps one party suggests assuming responsibility for certain debts. The reality is that if the other party is still listed on these debt accounts, he or she might still be legally responsible for the debts. This is because a creditor is not bound by a divorce agreement, as the spouses' contract with the creditor predates their split. For this reason, it is wise for those going through divorce to transfer their debt to brand-new accounts in the appropriate spouse's name and close their joint accounts.

Is a win-win divorce possible in Texas?

Divorce is complicated and confusing, even when both spouses have a clear understanding of their priorities. Here in Texas, community property laws require equal property division, which gives divorcing spouses fewer options when they come to the negotiation table. These legal restrictions may make the divorce process seem daunting to spouses who truly need or want a divorce but worry that it is too complicated and emotionally difficult.

If you have concerns about the risks of pursuing divorce in Texas, there is some good news. Careful planning can help you understand many of the pitfalls you may face along the way before you encounter them. These tools allow you to identify your divorce priorities and ensure that you start your new life on the other side with the tools and confidence that you need.

Helpful advice for those experiencing divorce

Ending a marriage and separating from a spouse is never an easy thing to experience. Divorce can definitely be emotional and difficult for all parties involved. Those in Texas who are going through divorce may benefit from the following tips.

Depression is not uncommon for those who are going through a split. After being with a partner for an extended period of time, a new solitary life can be a tough adjustment. One of the best and most healthy ways to combat depression and loneliness is with exercise. A regular exercise routine will break down stress, improve moods and help with confidence.

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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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