Dividing up marital property in a community property state can be trickier than you might expect. Only a small handful of states, including Texas, use community property guidelines to determine property division, and if you choose to divorce here, your property division must comply.
If you are living with alimony payments, you owe it to yourself to maintain detailed, accurate records about all the alimony you pay. Depending on the nature of your alimony agreement, you can probably deduct those payments come tax time, when this documentation becomes exceptionally useful. Documentation can also help clarify the situation if you and the recipient of the alimony have a disagreement about your payments.
When you and your spouse divorce in Texas, figuring out how to fairly approach property division is rarely simple. As a community property state, deciding what to do with a marital home can be quite difficult. A home often acts as both an asset and a liability, so before you fight tooth and nail to keep it, consider how it may impact you as a single person.
Attorney Weinman recently appeared on an episode of Impact Makers Radio to talk with host Stewart A. Alexander about what Austin and Texas residents can do to help control the fear and emotions that are often present during the divorce process. Keeping fear, mistrust and emotional reactions in check can help keep legal fees at a minimum and minimize the scars to children.
Getting divorced is rarely simple, and its effects extend into every area of your life. This is especially true when it comes to property division and estate planning. Here in Texas, we use community property guidelines to determine how property gets divided in divorce, and those same guidelines can wreak havoc on your estate plan if you do not carefully update your will as part of your divorce process.
If you find yourself facing divorce, there is a decent chance that some form of alimony may come into play in the settlement. However, alimony is not just one thing, but rather an umbrella term that refers to a number of different spousal support scenarios.
Preparing to withstand your divorce and rebuild afterward is a difficult process. Many individuals do not fully comprehend the scope of a divorce at first, and poor legal counsel may focus on saving some particular asset or right rather than looking at the larger picture of how the divorce may affect a client's overall lifestyle. It is important to work with your attorney to make sure that you truly understand how your divorce affects each area of your life so that you do not get caught off guard by the process.
When working out a divorce settlement, one of the most divisive components of reaching a fair agreement is the matter of spousal support. The issue can be enormously frustrating for both parties, especially the party who faces making ongoing payments to a spouse he or she would like to sever ties with as much as possible. While it is unlikely that you can circumvent your responsibility to spousal support altogether, you may be able to keep from making ongoing payments.
As a father facing the divorce process, it's hard to understand what the future will bring. While you focus on your personal well-being, you must also concern yourself with your child (or children).
Those who have lived in Texas for some time are likely aware that the Lone Star State already has some unique laws on the books, as one of only a few states that employs community property laws. The needle is poised to move even further now, with a Texas lawmaker proposing changes to state law that would make it even more difficult for couples to obtain a divorce.