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High Asset Divorce Archives

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.

Prenuptial and postnuptial agreements

Unfortunately, many Texas couples must deal with divorce. Having a prenuptial agreement can greatly influence what will happen during the separation process. However, prenups can also strengthen a marriage by encouraging the parties to reduce uncertainty before walking down the aisle.

How tax law changes could impact divorce agreements

Starting on the first day of 2019, those who get divorced in Texas or any other state will see a change to the status of alimony payments. For the first time since the Revenue Act of 1942 was passed, alimony will no longer be considered income to the recipient. It will also no longer qualify as a tax deduction for those who make alimony payments.

Gray divorce presents special asset division challenges

Gray divorces, or divorces among couples over the age of 50, are on the rise in Texas and across the United States. In fact, the Pew Research Center reports that these types of divorces have doubled since the 1990s. However, they can present special financial challenges, particularly in the area of retirement plans.

Those who spend more on the wedding more likely to get divorced

With divorce rates in Texas and across the nation hovering at about 50 percent, there have been many studies searching for reasons why divorces occur. One study found that the amount of money that a couple spends on a wedding could be a risk indicator for whether or not the marriage will end in divorce.

Common mistakes to avoid in a divorce

There are a number of mistakes people in Texas who are getting a divorce might want to make sure they avoid. Often, those mistakes are driven by emotion. For example, a person might agree to unfavorable divorce terms because of feeling guilty or because of a desire to get the divorce over with quickly. Anger can lead people to try to seek revenge during the process, and this can mean a longer and more costly divorce.

Preventing financial errors during divorce negotiations

Negotiating a divorce settlement is a complex process, as many Texas residents have discovered, that can sometimes lead to preventable errors with serious financial consequences post-divorce. However, beginning the negotiation process with knowledge about their own financial position and some financial education can be a significant help in avoiding some of the potential mistakes.

Five reasons a prenuptial agreement may not hold up in court

As wedding season gets underway, you may be reminded of that blissful time before your wedding, when the future was bright and hopeful. Now, sadly, that time is long gone, and you may be worried about the impact of a prenuptial agreement on your divorce proceedings.

The benefits of a prenuptial agreement

When a Texas resident is planning to get married, it can be a good idea to discuss a prenuptial agreement. Having such an agreement can reduce or eliminate the chance that a person's wealth is lost in a divorce. Those who come from wealthy families can also reduce or eliminate the chance that wealth generated by their parents is not lost if a marriage comes to an end.

Divorce and dividing a business

Texas business owners who are getting divorced have much at stake when it comes to what will happen with their business, as the business may be one of the most significant assets they have. Dividing marital assets can be a lengthy process made even more complicated if the assets include a business owned by one or both parties.

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