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September 2014 Archives

Avoiding financial disaster after a divorce

Divorcing couples in Texas might do well to take some time to assess their finances so they can avoid some of the typical pitfalls involved in marital property division. Each spouse's financial needs will affect the division of assets in the divorce. If one spouse needs cash in the immediate future, he or she can request assets in the divorce decree that are easy to liquidate. Spouses who do not need instant cash have more flexibility in negotiations because they can accept retirement plans, mutual funds, stocks and other investments that take longer to cash out.

High asset divorce, property appreciation and separation

Texas residents may know that Harold Hamm's divorce has yet to conclude. Married in 1988, the resolution of the divorce between the oil magnate and his estranged spouse may involve nearly $17 billion in assets, most of which is the interest in his company. As Oklahoma is an equitable distribution state, the court will decide property division on a variety of factors, two of which are the date of separation and property appreciation during the marriage.

Is health insurance included in the child support payment?

A custodial parent in Texas may be concerned with health coverage in addition to financial support. It is helpful to note that under the state's laws, both parents are responsible for the entire cost of medical treatment, meaning that a physician or medical center may be able to seek payment from either parent regardless of child support arrangements or other custody issues. Although the court might dictate the responsibility of one parent or another for medical expenses, this won't affect the right of the provider to attempt to collect from either or both parents. Even the state's Medicaid agency might be able to seek reimbursement from either parent.

Factors that determine spousal support in Texas

Texas is a community property state, and almost all property that is acquired by either spouse during their marriage is divided equally once they divorce unless the parties otherwise agree. If the court determines that one spouse is to pay the other alimony, these payments may affect the property division ordered by the court. The court will look at a number of factors to determine whether and how much spousal support to order.

Resolving shared parenting issues in child custody cases

Texas law believes that if, as a parent, you are facing divorce, maintaining your children's best interest is vital. This means that your situation may have built-in terms regarding child custody so that both parents are allotted sufficient opportunity to parent. The goal of state law and our office is that children benefit from the best relationship possible with both parents.

Paternity lawsuits may be necessary in child support cases

Child support cases in Texas often require the establishment of paternity as a preliminary matter. Paternity suits are typically filed by mothers or government agencies seeking support orders or by men seeking to establish custody or visitation rights. The requirements for establishing paternity are similar in nearly all states, but there are a few variations in Texas that may affect the process.

Factors that determine alimony amounts

Texas residents may be interested in some general information about alimony, from what it is to how the amount is determined. Depending on numerous factors, the amount that a court orders to be paid in alimony can vary from couple to couple.

Child custody law in Texas

The family law in Texas recognizes the term "child custody" as "conservatorship," and the "custodian" as the "conservator." Unless the parents can agree on shared responsibilities, the court will identify the terms of the conservatorship under all legal rights of both spouses. The ultimate goal is the welfare of a child.