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What divorce looks like in a world with cryptocurrencies

Cryptocurrencies have allowed some Texas investors to accumulate a relatively large amount of wealth from a relatively small initial stake. The very nature of cryptocurrencies makes hiding all of this wealth easy. Understandably, this can be a problem when going through the divorce process.

During a divorce, it is hoped that both parties will lay all of their financial information out on the table with the goal of having an equitable separation. However, since a person could have invested in cryptocurrency without their spouse even knowing, they could easily conceal these funds. What makes things even more challenging is that family law attorneys are not always familiar with cryptocurrency. Many of them, like the majority of the population, only became aware of cryptocurrencies in recent years.

Gray divorce can be difficult for older couples

Throughout Texas and the rest of the U.S., more and more spouses over age 50 are choosing to separate. These gray divorces account for approximately 25 percent of legal splits. However, getting a gray divorce after experiencing a lengthy marriage presents challenges to both spouses. Lengthy marriages often involve greater difficulties when attempting to determine who owns various assets. Some couples spend years battling their convictions in court.

Older couples going through divorce should take steps to ease potential financial issues. Besides causing a strain on the emotions, the end of marriage can involve a complicated property division process. For example, Social Security benefits may pose problems for older spouses. These funds can be vital for older people going into their retirement years. Similarly, an older couple should also take special actions when dividing their IRA investments. All assets gained during marriage are considered marital property that may be split evenly.

Social media and texting may benefit kids with divorced parents

Most parents in Texas are aware that kids love to text and use social media to communicate. They may also be hesitant about allowing them to do so. However, a new study suggests staying connected in this way may help children deal with divorce more effectively when one of their parents no longer live in the family home. Even though it's believed divorced parents' ability to get along post-split determines how kids cope with divorce, researchers discovered parental contact was even more important.

In order to assess how parental relationships affected ones involving parents and children after a divorce, the study team looked at information from several hundred divorced parents with teen and preteen children. It was concluded that it didn't seem to matter much how well parents got along post-divorce. Also, the frequency of communication was more impactful regardless of the various coparenting styles identified by researchers.

Finding solutions to real estate foreclosure

Foreclosure can be among the most difficult experiences a Texas homeowner can face. There are a number of complications that can be associated with a foreclosure as well as a number of state and federal laws that govern the process. Since the housing crisis of 2008, new laws have changed the ways that people can defend against foreclosure attempts. Homeowners facing extreme difficulties paying their mortgage may benefit from learning more about the process.

In some cases, homeowners may be particularly concerned as they are "underwater" on their real estate, meaning that they owe more on their mortgage than its current value. This is a particularly common circumstance after a real estate bubble has crashed. In some foreclosures, the process takes place in court, while in other cases, the text of the mortgage or deed itself allows the lender to sell off the property in order to pay off the balance of a mortgage that has entered default. Before this can take place, lenders have to meet certain timelines to notify the borrower and provide an opportunity to pay the overdue bills.

Divorce rate in Texas is down, but still high in some cities

The number of divorces is down and getting lower, statistics show. Popular culture likes to pin this on the decaying rate of marriage among Millennials, but the trend has been moving this direction for 40 or more years.

A recent look at marriage statistics finds that the most likely culprit is better education which led to an increase of women in the workplace and the later age couples are getting married.

The termination of child support comes with unique challenges

Texas parents who find that divorce is the best option are often faced with many questions regarding child support. In virtually all cases, one parent will end up being required to provide some amount of financial support for minor children. However, this typically depends on factors like the balance of custody, visitation rights, wages and the amount of financial means needed to provide for the best interests of the kids.

No matter the circumstances, the bottom line is that the parent responsible for payments must abide by the final decision of the court. Although it may seem like child support should be terminated due to things like visitation being limited, the court has the final say in support payment matters.

Financial mistakes that are common in a divorce

When couples in Texas are going through a divorce, there are a number of common mistakes they should try to avoid. One of those errors is failing to get paperwork in order. This might include Social Security statements showing the earning of both spouses, information on what was paid for various assets, account numbers and home improvement receipts. Some of this paperwork may be helpful after the divorce as well. For example, if the couple has been married for at least 10 years, one spouse might be able to draw Social Security retirement benefits on the other spouse's income.

People should also avoid social media. Information shared there could become an issue in the divorce. However, people should not assume that litigation is an inevitable part of every divorce. A collaborative divorce or mediation may lead to a settlement for many couples.

Ranking common factors that contribute to the end of a marriage

Couples in Texas planning to exchange vows can take comfort in knowing that fewer people are ending their marriages these days. Even so, having a better understanding of the common reasons for divorce may help some married couples avoid potential pitfalls that could doom their relationships. In order to rank divorce-related factors, researchers interviewed couples who parted ways several years after completing a prevention and relationship enhancement program before they were wed.

Roughly 13 percent of respondents questioned cited insufficient premarital education and religious differences as divorce factors. Commenting on premarital education, one former spouse observed that premarital counseling failed to discuss the various phases of marriage that occur over time. As for religion, research suggests that couples in interfaith marriages are generally not as happy as those that share the same faith. Nearly 20 percent of individuals polled believed their marital woes were related to lack of family support or serious health problems that strained their relationships.

The rise in divorce among older adults

While divorce rates are steady or have dropped for most age groups, it is on the rise for people 50 and over. These divorces are not just between people in shorter second marriages. Older people in Texas who have been married for decades may be more likely to divorce than in previous generations.

Experts say there may be a number of reasons for this rise in divorce among older adults. The breakup of Al and Tipper Gore's marriage is one of example of a so-called "gray divorce" that did not occur because of infidelity or other serious issues. Some older couples may simply decide they are no longer fulfilled together and that they would be happier apart. There is less of a stigma associated with divorce than in the past, and with online dating available to all age groups, people may feel they have a better chance of meeting someone compatible. Women's increased economic independence may also be a factor.

Is the seller responsible for revealing building defects?

You’re selling the home you’ve lived in for 30 years. It’s not a new home but you’ve kept it up to date. The buyer will likely make any offer on the house contingent on a building inspection.

Given this situation, what is your responsibility to disclose any building defects?

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Law Office of B. Diane Heindel, P.C.