How to Resolve Business Ownership in Divorce
A business typically provides income for the family and is also considered property, which may be divided between spouses in a divorce. In other words, both spouses may have ownership rights in a family business and are entitled to their share of the “equity” when the marriage ends. There are a wide variety of closely-held…
Read MoreRemarriage & Blended Families
Yes, we have all heard the divorce statistics – nearly 50% of couples in the U.S. end their first marriage in divorce. However, while these couples give up hope for their partner, they did not necessary give up on the institution of marriage. The majority of people who have divorced (close to 80%) go on…
Read MoreJanuary is “Divorce Month”
Yes, unfortunately the post-holiday blues produce a surge in divorce case filings! Based on statistics from the American Academy of Matrimonial Lawyers, divorce case filings typically surge by one-third more than normal – beginning in January and goes into early March. What gives? For one, unhappy couples are reluctant to break up the family during…
Read More“Prenuptial Agreement” – Taboo words in a relationship?
Generally when two people are planning for marriage and “happily ever after”, the issues of finances are often not a topic of discussion. Once married, however, finances are often one of the leading (if not the #1) cause of relationship conflict and divorce. In business, contracts stipulating each partner’s responsibilities and obligations in the event…
Read MoreThe Next Big Target – Your IRAs and 401(k)!
Dear Clients & Friends: I wanted to update everyone on a critically important, and often overlooked, aspect of retirement planning. While saving for retirement is imperative to achieve long-term financial security, the “savings vehicles” that most Americans use today have serious and significant tax implications that can derail those well intentioned “retirement plans”. Historically, we…
Read MoreTexas Child Support Guideline Amounts to Increase September 1, 2013
September 1, 2013 Effective September 1, 2013, new child support guidelines will become effective in Texas. Under the law prior to September 1st, a payer’s child support obligation was based on his income up to the first $7,500 per month in “net monthly resources”. After September 1st, child support will be calculated using the first…
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