M. J. Hill & Associates, PLLC
Call Us Today To Schedule An Appointment 512-212-4916 Search

October 2018 Archives

How tax law changes could affect gray divorces

Retirement accounts often become a primary asset when individuals aged 50 and older in Texas choose to end a marriage, even more so than the marital home and other commonly sought-after assets. For older individuals planning to untie the knot in 2019 or beyond, the Tax Cuts and Jobs Act will change how certain assets are handled. The most noticeable change is with alimony payments, which will no longer be deductible for the payer and claimable as income for the recipient.

Facts about prenuptial agreements

When couples in Texas sign a prenuptial agreement, they must each have had their own attorney, the agreement must be fair and both people must have disclosed their assets. Fairness can be a somewhat subjective measure. As an example, if there is a big wealth disparity between two people, it might be unfair if they are married for a long time and the person with less money gets nothing in a divorce. A prenup could be thrown out if it does not meet these requirements.

Divorce and dividing retirement assets

One issue that divorcing couples often have to contend with is the division of retirement assets, including 401(k) accounts. It is important that they understand the correct process for dividing such retirement assets. By not taking the proper steps, an ex-spouse could have to pay hefty expenses and tax assessments.

Defending your parenting rights after divorce

Parents who share custody of a child face a difficult balancing act when it comes to spending time with the child and sharing parental obligations and privileges. Successful co-parenting requires even-handed compromise and both parents' focus on the best interests of their child. It also leaves it up to parents to defend their own rights if the other parent violates them.

Protecting your retirement plan after divorce

With gray divorces continuing to rise, older couples in Texas might be concerned with protecting their retirement plans. While a split is stressful on couples of all ages, older couples face having to make very difficult decisions that can impact their financial situation during retirement, when the risk of having to live on half the income with the same amount of expenses is a real possibility.

Email Us For A Response

Have Questions? Email Us.

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy


Contact Us

San Marcos Office
501 Broadway
Suite A
San Marcos, TX 78666

Phone: 512-212-4916
Fax: 866-506-2440
San Marcos Office Location

San Marcos Office
P.O. Box 1296
San Marcos, TX 78667