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San Marcos Legal Issues Blog

Financial impact of divorce

Divorce can strain one's finances, but it is possible to plan for the potential monetary ramifications of divorce. Texas residents may wish to know important financial concerns when dissolving a marriage.

One of the biggest assets a couple might share is a house. When selling a house, any profits or debts must also be distributed. A couple could split proceeds evenly, or spouses may need to negotiate if one spouse needs or feels entitled to a larger share. One or both partners might be responsible for expenses before the home sells.

Courts commonly consider certain factors in custody cases

Family courts in Texas base their child custody decisions on the general standard of the best interests of the child. This standard gives a judge broad discretion to make decisions and allows for the consideration of many different factors in arriving at a determination. Child custody situations can be hard to predict because their outcomes may vary widely based on the judge and specific facts of the case. There are, though, a few factors that are likely to be considered in the large majority of instances.

Courts will look for some kind of evidence that each of the parents is able to meet the emotional and physical needs of the child. This might include demands for proof that the parent can provide shelter, clothing, medical care, food, parental guidance, education and loving support. The court will also consider each of the parent's mental and physical health.

Dealing with custody issues when taking your child on vacation

If you do not have full custody of your kids, you will undoubtedly want to make sure that you spend quality time with your children. You may decide that you want to take them overseas on vacation, as this can be a great way to make memories together. However, you may also be concerned about what the other parent will have to say about this.

If you are putting together vacation plans, it is important that you plan for possible challenges. If you believe that the other parent may object to your plans, make sure that you communicate with them from the start. The following are some things to do to ensure that your family vacation is a success.

Tricks used to hide assets during a divorce

Texas residents who are contemplating divorce may find it interesting to learn some of the ways that spouses try to hide assets from each other in the months or years leading up to divorce. Many people have the idea in their head that when discussing a spouse hiding away marital assets, the conversation is always about a man hiding money from his wife. However, the modern reality is different. In many homes, both spouses earn the same amount of money. It is not uncommon for the wife to be responsible for managing finances, including paying bills and monitoring investments.

However, deeply entrenched stereotypes have led to some people having blinders on to the point where they do not realize that their spouse is hiding assets from them. One warning sign to consider is a spouse who has a newfound interest in cryptocurrencies. When the spouse asks what's going on, they may be met with silence or deflection. The truth is that many spouses see cryptocurrency as a safe spot to hide money until the divorce is done.

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