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Posts tagged "Divorce"

Early IRA distributions and splitting property in a divorce

Divorce is on the decline for most age groups, but for people over 50, it is on the rise. Older couples in Texas who are ending their marriages may have accumulated a significant amount of shared property that needs to be divided. This could include a retirement account.

Why consider a postnuptial agreement?

While a growing number of people in Texas are considering prenuptial agreements before they marry to determine some key financial matters, it may also be possible for people to reach this kind of agreement after marriage. While prenups were once widely considered a matter for celebrities or the ultra-wealthy, more people see the advantage of determining how their funds will be separated in advance. These agreements can be especially important for people with an inheritance or a privately owned business as property division in a divorce could have a significant impact on each.

Why January is a popular month for divorce

It isn't uncommon for couples in Texas and throughout the United States to get divorced in January. This is partially because they may feel more stress during the holiday season, and they may decide that it's better to avoid going through the same experience in the future. Others may decide to file for divorce in January as a means of giving themselves a fresh start in the new year.

How to talk about a prenup agreement

Couples in Texas who are planning to wed might be considering a prenup agreement. While some people feel anxious about what this might mean, experts recommend signing one as it can clearly define financial boundaries and avoid additional problems in case of a divorce. However, for many people, talking about the prenup can cause distrust and anger. One way to avoid this is to approach the conversation empathizing with a future spouse's concerns while still being honest about what each expects.

Make a financial plan before a divorce

While the divorce rate in the United States has gone down since the 80s, about 39% of marriages still end in divorce. Since divorce can be financially devastating, couples in Texas should learn about a few steps they can take to get their finances ready before splitting up.

Social media and divorce

Getting divorced in Texas or any other state is often stressful. While many divorcing spouses are often advised to avoid social media during this time, some individuals who have been through the divorce process have come to appreciate some aspects of social media platforms and online communities.

Financial experts can be key to handling a high-asset divorce

The ramifications of a Texas divorce can be significant, especially financially. This is true with any divorce, but it is more prominent in a high-asset divorce. Navigating finances can be a contentious factor. The parties should be cognizant of how to address their concerns. In certain cases, a divorce financial specialist can be of assistance.

Social media posts could be used as evidence

It is not uncommon for individuals in Texas to have one or more social media accounts. Therefore, it isn't unheard of for evidence gleaned from social media sites to impact a divorce case. According to data collected by Web Preserver, roughly 33% of divorces occur because of affairs that take place online. Furthermore, it found that 81% of attorneys have found evidence from social media platforms that was worth using in divorce cases.

Strategic divorce may save money in some cases

There are situations in which a married couple might want to file for divorce in Texas even if there are no problems in the marriage. Strategic divorce can sometimes save the parties money on their taxes or help one of the spouses qualify for Medicaid. In many cases, though, filing for divorce can also cause problems with retirement accounts or health insurance. Ultimately, whether to file for strategic divorce is a case-specific question that a lawyer might be able to help answer.

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