Posted on May 15, 2020 in Divorce

When you think about “hidden assets” and secret stockpiles of wealth that your spouse may be hiding (so that they can avoid splitting any of those assets with you in the divorce), your mind probably goes first to “offshore accounts.” Maybe you even think about modern inventions, e.g., Bitcoin, that are uniquely designed to evade detection.

Have you considered asset trusts in South Dakota? A lawsuit involving a Texas billionaire has cast a spotlight on these trusts that make it easy for wealthy people to hide their income and property from everyone else — including their own spouses. According to reports, South Dakota is actually becoming a “mini-Switzerland” when it comes to stockpiling assets from prying eyes.

According to the suit, the billionaire and his wife amassed a lot of properties and assets during their 30-year marriage — everything from vacation homes to some of Marilyn Monroe’s clothing and jewelry. When the husband filed for divorce in 2017, however, his wife discovered that he’d allocated much of their possessions (including the couple’s tableware) to trusts.

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 Posted on May 13, 2020 in Firm News

Your home is important to both you and your spouse. If you are heading for divorce, though, you must decide what happens to the property. After all, continuing to occupy the residence with your ex-spouse after your marriage ends is probably not possible.

In Texas, couples have some options for dividing marital property. To stay in the home, a divorcing spouse may decide to buy out his or her partner’s ownership interest. Commonly, though, couples choose to sell the house and split the proceeds. If you go this route, you may want to consider taking the following four steps.

1. Think about occupancy

You may not want to live with your spouse before your divorce concludes. Nevertheless, because vacating the house may harm its selling potential, either you or your partner may want to remain. If you both vacate, working together to stage the property may become essential.

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 Posted on May 07, 2020 in Divorce

When you’re approaching a divorce, it’s important to educate yourself as much as possible about your options and make some good financial decisions.

That’s not always easy. If your spouse has typically handled most of the family finances, you could be blindsided by the amount of debt you owe — or completely uncertain about your assets. That makes it very difficult to plan for your future.

Meeting with a financial advisor before you take steps to make the divorce official can be a wise decision. To prepare, you should gather the following:

• The last three years worth of tax returns (since your spouse may have hidden income or assets in the past that might be uncovered that way)
• Copies of the deeds to any real property you or your spouse own

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 Posted on May 01, 2020 in Child Custody

Electronics are integral to American society, yet many parenting plans fail to include provisions about their use and access. This isn’t a mistake you want to make.

Most of the time, that’s because the children are still fairly young when the parents divorce. Other times, one parent will assume that the current “rules” regarding electronic use will continue after the divorce — only to be upset later when the other parent changes the rules for their home.

Electronics make it easier for parents who don’t live full-time with their children to stay connected and maintain their bonds with their children. It makes it easier for a child to reach out whenever they want — or need — to talk with that parent. With that in mind, here are some things your parenting plan should address:

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 Posted on April 24, 2020 in Child Custody

When you and your child’s other parent divorce, it’s common for you to want to maintain a semblance of normalcy in their lives. If you have traditionally traveled abroad with your kids to visit family or on a school break before, then you may assume that you can continue to do so once you and your ex split up. That’s not always the case though. It could leave you at risk of losing custody and put you at risk for criminal charges if you do.

Children under 16 are generally required to have a passport to travel abroad to other countries. Both of a minor child’s parents must generally show proof of their parentage and appear in person to request a passport for their child. It is possible for a mom or dad with sole custody to apply for a passport for their child without their other parent’s prior authorization though.

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 Posted on April 12, 2020 in Firm News

Would it not seem more reasonable for you and your spouse to control the outcome of your divorce rather than submit to the decisions of a judge?

You can choose mediation, a type of alternate dispute resolution, or ADR, which is growing in popularity as an alternative to litigation.

Choosing mediation

Under Texas law, a divorcing couple must usually undergo mediation before the court will hear their case. However, in many areas of the country, couples prefer mediation as an alternative to litigation. If you want to control the outcome of your own divorce rather than submit to a judge’s decisions, you can choose mediation. There are additional benefits, including considerable savings in both time and money. Unlike litigation, which is a public process, mediation sessions take place privately behind closed doors in a setting that, as compared to court, is much more informal.

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 Posted on April 12, 2020 in Divorce

You’ve always been the responsible sort, so you purchased life insurance policies that were designed to protect you, your spouse, your kids and your business.

Now that you’re getting a divorce, however, those policies can’t be treated like an afterthought. In fact, they need to be part of your divorce negotiations from the very start. Here’s what you need to do and consider:

1. Inventory all your policies.

This means checking their face value, the current cash surrender value and the designated beneficiaries. Don’t assume that you remember them all. The details on an insurance policy’s terms can get pretty fuzzy over time. Don’t make any changes, either, until your attorney or the court says that you can. (During most divorces, early orders from the court will include a stay that legally prohibits you from making any changes to your insurance policies.)

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 Posted on April 08, 2020 in Family Law

Legally adopting your stepchild is a big step. Doing so offers a lot of benefits, the main one being that you and your stepchild officially become “family.” That gives you certain rights to custody and visitation if you and your spouse divorce. It also imposes a support obligation on you for that child’s welfare. Your stepchild also gains inheritance rights and the right to important benefits if you should die.

But stepparent adoption isn’t always right for every family. Here are a few things to consider as you debate the option:

• Is your stepchild’s other parent in the picture? If so, that may make stepparent adoption difficult or impossible unless they give their consent because their parental rights will end with the adoption.
• What does your stepchild think about the idea? Some kids may be very excited about the idea, but others may have their doubts. Don’t take it personally if your stepchild hesitates. An adoption, in many ways, makes them a whole new person. Not every kid can adapt to that idea.

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 Posted on April 02, 2020 in Divorce

Does money really lead to that many breakups between spouses? According to the statistics, it’s the second-most common cause of divorce in this country. (Only infidelity causes more marital splits.)

Money woes are, somewhat logically, a big problem for many couples. The bigger the pile of debt that a couple has to manage, the bigger the strain on the marriage. Aside from the stress and frustration of all that debt, couples may find their relationship fraying simply because they have to put all of their energy toward work — just to keep the bills paid. Plus, the subject of money (or debt) may become a couple’s primary topic of conversation — which doesn’t exactly keep a relationship warm.

But debt isn’t the only money trouble that a couple can face. Not talking about money concerns at all is just as destructive to a relationship as talking about money all the time. When couples don’t discuss their financial situation, debts and goals, that can lead to differences in expectations — and create a source of anxiety for one or both parties.

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 Posted on March 28, 2020 in Blog

IN THE SUPREME COURT OF TEXAS

SEVENTH EMERGENCY ORDER REGARDING THE COVID-19 STATE OF DISASTER

ORDERED that:

1. Governor Abbott has declared a state of disaster in all 254 counties in the State of Texas in response to the imminent threat of the COVID-19 pandemic. This order is issued pursuant to Section 22.0035(b) of the Texas Government Code.
2. This Order supplements and does not replace or amend prior Emergency Orders Regarding the COVID-19 State of Disaster.
3. This order applies to and clarifies possession schedules in Suits Affecting the Parent-Child Relationship. For purposes of determining a person’s right to possession of and access to a child under a court-ordered possession schedule, the existing trial court order shall control in all instances. Possession of and access to a child shall not be affected by any shelter-in- place order or other order restricting movement issued by a governmental entity that arises from an epidemic or pandemic, including what is commonly referred to as the COVID-19 pandemic.

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