Category: Texas Divorce
A Thoughtful Guide to Divorce Mediation: The Money Issue
When you marry, you agree to abide by the laws in your state with respect to divorce. In divorce, many spouses finally take the time to learn about those rules. But it’s often too late. For example, Sally didn’t know the rules of separate property so she didn’t know that much of Bill’s wealth was … Continue reading A Thoughtful Guide to Divorce Mediation: The Money Issue
Increasing Financial Resources in Divorce
I recently attended the annual conference of the Association of Divorce Financial Planners. A presentation from my colleague Nancy Hetrick of Arizona highlighted something I’ve been able to achieve in my own practice – increasing the amount of money available to be divided in divorce without borrowing money. There is often a better way than … Continue reading Increasing Financial Resources in Divorce
Financial Life after Divorce – Armageddon or Nirvana
You signed the settlement agreement but you’re not settled yet. There’s still lots to do! You need to divide accounts, change insurance or beneficiaries, get a new estate plan and for some of you, move out of the house! Many people get hung up at this point, pondering “What will my life be like now?” … Continue reading Financial Life after Divorce – Armageddon or Nirvana
Business Valuation in Divorce: A Very Quick Primer
Bill owns a business called Clean Wipers, Inc. that sells unique, high quality windshield wipers to luxury car companies and car owners. Bill and his wife Brenda decide to divorce. Bill tells Brenda he takes an $80,000 salary from the business each year and that he’s thought about selling the business recently because sales were … Continue reading Business Valuation in Divorce: A Very Quick Primer
A House Divided: Your Home in Divorce
For most couples, the family residence is one of their largest assets. In divorce, the family home is treated like any other asset, but it is an asset unlike any other. The family home isn’t easily divided. Budgetary concerns and tax issues coupled with emotional ties to the home can lead to catastrophic financial outcomes. … Continue reading A House Divided: Your Home in Divorce