Posted on February 19, 2020 in Uncategorized

When it comes to ending your marriage, litigation can be emotionally and financially draining.

If you are facing a high-asset divorce, you may want a process that is effective but more respectful of your time, money and fragile state of mind. Collaborative divorce is an option to consider.

The way it works

In a collaborative divorce, you and your spouse will use professional help to develop a divorce agreement that is satisfactory to you both. You will each hire an attorney specially trained in collaborative law to provide guidance and assist in negotiating a settlement. You will meet separately with your attorneys, but the four of you will also meet on a regular schedule.

What to expect

There are many advantages to collaborative divorce as compared to litigation:

• You and your spouse will exchange information voluntarily.

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 Posted on January 28, 2020 in Uncategorized

If divorce is something that has been on your mind lately, take some time to consider the different ways to accomplish it. You may not realize it, but your separation does not have to play out the way you see divorces do on the screen. With the right amount of planning and some careful consideration of your circumstances and divorce goals, it is possible to achieve a favorable outcome without as much effort or inconvenience.

The separation process is not easy, nor is it a one-size-fits-all deal. Take some time to look over the differences between divorce litigation and mediation.

Litigation

Litigation (traditional) is the most common method of divorce. It involves you and your soon-to-be-ex-spouse filing a divorce petition in court to dissolve your marriage. To finalize your separation, the judge presiding over your case will need to assess your circumstances and apply the law as he or she deems fit. This can result in you not getting what you want out of your separation because a judge makes the decisions. It is also one of the most expensive methods of divorce because of the length of time and resources required, all at your expense.

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 Posted on December 31, 2019 in Uncategorized

One of the most common assets to divide during the divorce process is a 401(k), and you and your soon-to-be-ex may both own one.

However, focusing on just this account may be short-sighted. Do either of you own other retirement or pension plans?

Calling all assets and liabilities

Texas is a community property state, which means that any property acquired during your marriage belongs to you and your spouse jointly. This includes the marital home, your bank accounts, investments, pensions and retirement accounts. Debts are also part of your marital estate, and these include your mortgage, credit cards and any tax liabilities.

Dividing a 401(k) and other plans

To divide a 401(k) or similar company retirement plan, you need to complete a Qualified Domestic Relations Order, or QDRO. This is a legal document that provides your plan administrator with division instructions per your divorce settlement. However, you need not focus your energies on this particular account. You and your spouse may have other plans that will come into play in terms of division. For example, perhaps you have an IRA, the division of which could offset splitting half the 401(k) balance. Furthermore, an IRA does not require a QDRO. Usually, a letter of authorization and an IRA distribution form are the only transfer items needed. Think simplicity, economy, the end result of property division and how it will affect your future financial picture.

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 Posted on November 26, 2019 in Uncategorized

If you are age 50 or older, ending a long marriage is a particularly distressing experience. But these days, it is far from unique.

More couples experience later-in-life divorce now than even a decade ago, but the road ahead brings some unique financial concerns, especially for women.

Results of divorce

What you want most out of the divorce is financial security. This means that you need to understand your current financial picture and think about how that changes during the property division phase of the proceedings. You are about to split your retirement funds, for example, and depending on whether you receive spousal support, your once-healthy income stream may become more of a trickle.

Time plays a role

As an older woman, you do not have the luxury of time in which to begin a new career. However, to supplement your post-divorce income, you may consider taking a job that provides a steady paycheck. If you are still a member of the workforce, you may have to put off retirement for longer than you anticipated. You may have to learn to budget and downsize your style of living.

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 Posted on November 22, 2019 in Uncategorized

While it is usually both rewarding and fulfilling, parenting can also be unbelievably challenging. This is particularly true in non-conventional families, such as those with post-divorce co-parents. Regardless of how your marriage came to an end, your ex-spouse should not sabotage your relationship with your kids.

Parental alienation occurs when one parent disparages, discredits or fosters hostility toward the other parent. Typically, these actions involve mental and emotional manipulation. Unfortunately, the effect is usually the same. That is, children prefer the alienating parent while rejecting the alienated one. Because parental alienation can cause life-long consequences, you must watch for its warning signs. Here are some of them:

Spying

Co-parents should not use the children to spy on each other. Unfortunately, this occasionally happens. If your former partner asks your son or daughter to engage in espionage, you may be the target of parental alienation.

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 Posted on October 26, 2019 in Uncategorized

All parents need to make adjustments the first year after finalizing a divorce. One of the hardest aspects to go through involves determining how to handle family holidays. There are few holidays as stressful as Thanksgiving.

If you thought things were stressful before, now you have to go through the Thanksgiving celebration with your family divided. This is an important moment in life after the divorce because you and your ex really get to show your kids your co-parenting skills. Here are some tips to make sure your first Thanksgiving in the wake of the separation lets everyone know things will be all right.

Acknowledge your children's emotions

A lot of parents try to spin things positively following a divorce. It is easy to say things like, "Look on the bright side: Now you get two Thanksgivings." However, these statements will not help your kids heal. You want to acknowledge their feelings by saying something like, "I realize you are upset you will not get to spend Thanksgiving with me this year." You want to make sure your kids feel understood.

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 Posted on September 26, 2019 in Uncategorized

Divorce is a tricky, complicated legal proceeding. You want to avoid mistakes, which one Texas man learned after he forged his wife's name on the divorce papers. However, something else you do not want to mess up is how you present the separation to any children you and your spouse share.

Talking to your kids about your intended divorce is one of the most difficult conversations a person can have. It is critical to do it the right way so your kids can work through their emotions while still respecting both parents.

Present the divorce together

Both spouses need to sit down together to talk to the kids about the divorce. The separation should not come across as though one party is responsible. You do not want to act bitter or accuse your spouse of anything, you just want to convey the information. Remember, this conversation is not about you and your spouse. It is about your children, and you want to act maturely the entire time.

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 Posted on September 13, 2019 in Uncategorized

Marriage means something different to every couple. While you may have chosen to marry your spouse for love or security, your marriage certificate is a legal contract between you, your spouse and the state. As such, to dissolve your union, you must divide marital property and obtain a court order.

Gone are the days when couples had little choice but to engage in a protracted legal battle. Nowadays, a growing number of divorcing spouses choose alternate dispute resolution, such as mediation, to wrap up their marriages. While there are many advantages to mediating a divorce, sometimes, it simply does not work. Here are three signs it may be time to walk away from your divorce mediation:

1. Your partner is trying to devastate you

>Divorce mediation requires both parties to make a good faith effort to dissolve the marriage. While any divorce is apt to have some acrimonious moments, your partner should not try to destroy you. If you suspect he or she wants to leave you in financial or emotional ruin, it may be time to explore other options.

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 Posted on August 30, 2019 in Uncategorized

Divorce mediation is gaining popularity for a few important reasons. While you may appreciate that mediation is often less expensive than a protracted court battle, you are also likely to enjoy the reduced stress that tends to accompany alternate dispute resolution.

As you may suspect, though, some divorce mediations are more successful than others. While working with counsel who understands how to mediate a high-asset divorce is critical, you also need to prepare yourself for the mediation process. Here are four tips for making your divorce mediation a success:

1. Decide what really matters

In divorce court, spouses often fight for the sake of fighting. That should not be the case with alternate dispute resolution, though. While you can likely expect some friction, you should decide what matters to you. By listing your priorities, you can choose both when to push back and when to concede.

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 Posted on July 30, 2019 in Uncategorized

Let us say that you and your spouse have amassed significant assets during the years of your marriage. Now your marriage is coming to an end and you face a high-net-worth divorce.

You dread the idea of an expensive, lengthy and possibly acrimonious court process. Consider mediation, an alternative to litigation that comes with benefits and puts you in control of your divorce.

A popular option

Almost 50% of the marriages in our country end in divorce. Largely because mediation is less costly and time-consuming, it is becoming increasingly popular as an alternative to litigation. The divorcing couple meets with a mediator, a neutral third party trained in this form of Alternative Dispute Resolution, whose goal is to guide them toward a mutually satisfactory divorce settlement.

Mediation benefits

To many wealthy couples, one of the most troubling aspects of a traditional divorce in court is that the whole process becomes public. On the other hand, mediation is confidential, a process handled in private outside the courtroom. Without a judge making decisions about their lives, the participants feel much more in control of the outcome of the mediation process. Issues to decide include spousal and child support, custody and parenting time as well as the ultimate distribution of assets. Because the couple works as a team in decision-making, there is less stress associated with the divorce not only for the couple, but also for their children. In this process, the foundation is laid for open lines of communication and a non-adversarial and continuous relationship.

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