If you are involved in or considering a divorce, there are certain steps you want to take to minimize the tax consequences of the divorce. The most important of these include:
Is your marriage beyond repair? Have you decided that it's time to stop the constant bickering, get a divorce and move forward with your life? Do you have to have a specific reason for seeking a divorce? Do you have to show that your spouse cheated on you, physically abused you, or abandoned you?
Whether your marriage is in trouble and you are considering divorce, or your divorce is final, disputes can still arise. You can always take your differences to court, but the legal process can be time-consuming and expensive. In addition, the adversarial nature of litigation can make it difficult to maintain the type of relationship that is most beneficial to your minor children. Fortunately, there are alternative means of dispute resolution that allow you to find mutually beneficial ways to resolve your differences, ways that minimize your costs and help you foster a positive relationship. This blog post highlights two of those approaches: divorce mediation and the collaborative approach to divorce.
The state of Texas has consistently taken steps to outlaw same - sex or gay marriage.
Are you considering getting remarried in Texas? Have you heard that there are restrictions about how soon you can remarry? This blog post outlines the Texas laws governing remarriage after a divorce.
Frisco, Texas Divorce Attorneys
In the state of Texas, property acquired during marriage is considered communal property. Here, commonly held assets, real property like a home or cars, or value in a closely held business is considered communal property. Property that is brought into a marriage, inherited, gifted, or is part of a personal injury settlement is usually considered separate property and is not subject to division. If separate property is co-mingled with communal property - if, for instance, inheritance money is used to remodel your home - it may be considered communal property. If a closely held business is in the name of only one spouse, the court will have to determine if communal assets were used to start the business, maintain it, or increase its size. As a result, the division of marital property can be quite complicated, at times requiring forensic accountants, business evaluators, and property assessors.