Property Division

https://www.kielichlawfirm.com > Family Law  > Property Division (Page 2)

7 Financial Issues in a Texas Divorce: Fort Worth divorce lawyers

For many people divorce is about the emotional issues and sorting out the children. There is a very important financial aspect to a divorce. The property division of a divorce is about more than fighting over who gets the house and cars. These are important property issues but they may not be the most important issues. Often the most important financial issue in a divorce is how the spouses will survive financially after the divorce. The parties no longer share living expenses so there in an increase by both parties in their respective living expenses. One party may owe the other...

Continue reading

10 Issues That Will Make Your Texas Divorce More Expensive

Divorce attorneys like myself help clients with divorces and post-divorce actions like enforcement, contempt and modification primarily in the Dallas and Fort Worth / North Texas area. In such a large metropolitan area my clients range in family size, financial assets, post-divorce needs, property ownership and other issues related to their divorce. These divorces can range for very reasonable for clients, particularly with uncontested divorces, all the way to quite expensive for complex and hotly contested divorces. The cost factor for a client is always a relevant issue. Some divorces are expensive because there is a lot of work with custody,...

Continue reading

Do I need a divorce for my common law marriage in Texas?

Yes, Texas requires a divorce to dissolve a common law marriage; but the question is not as simple as you might think. Texas recognizes a common law marriage or an informal marriage as equal to a formal marriage. It requires a divorce (or annulment or death) to dissolve the marriage. The Texas Family Code has a statutory definition of a common law marriage as an "informal marriage". This makes it equal in force to a formal marriage created by a marriage license and marriage ceremony. As a result, you will need the help of a Fort Worth divorce lawyer to...

Continue reading

Dividing IRAs in a Dallas or Fort Worth Divorce

As a Fort Worth divorce lawyer, I have written about dividing employer-sponsored retirement plans in a divorce through a qualified domestic relations order, or QDRO. These benefit plans are not the only retirement assets to divide in a Texas divorce. Individual Retirement Accounts, or IRAs, are also divisible in a divorce. A key misconception by many suffering through a divorce and some family law attorneys including dividing an IRA in a divorce like an employer-sponsored retirement plan. That is incorrect. An IRA and an employer's retirement plan like a 401k or defined benefit pension follow different rules in a divorce in Texas. Today's post will discuss how an...

Continue reading

AT&T Pension Benefits and QDROs in a Texas divorce with Dallas QDRO lawyer Adam Kielich

Many large and longstanding employers, like AT&T, General Motors, Hewlitt Packard and Bank of America, have defined benefit pension plans that offer retirement benefits more complicated in their benefit formula than a 401k plan where the participant receives the vested benefit on the distribution date. These defined benefit plans determine benefits out of a combination of service years, compensation and a variety of other factors. These benefits can be substantial and among the property divided in a divorce. Dividing these retirement benefits requires a special court order known as a qualified domestic relations order, or QDRO. A QDRO describes the method to divide the...

Continue reading

My spouse doesn’t want a Texas divorce but I do. What can I do? Bedford divorce lawyer explains

This is a fairly common question I receive at my Bedford, Texas law office from potential divorcees who feel trapped by their spouse because the spouse is adamant about remaining in the marriage for one reason or the other. At fault divorces in Tarrant County, Texas Once upon a time in Texas a divorce could only occur for very specific reasons. The spouse pursuing divorce had to allege and prove one or more of these reasons to obtain a divorce. If the party could not prove the alleged reason for divorce then the marriage remained. This approach to Texas divorce continues to exist...

Continue reading

Shared Interest vs. Separate Interest in a Texas QDRO

One issue dividing retirement accounts in a Texas divorce is whether the division is on shared interest or separate interest. This issue is technical and can be a confusing aspect of dividing retirement plans in a divorce. Often this issue arises when the parties are determining the final language of the divorce decree and the qualified domestic relations order (QDRO) that will go to the retirement plan administrator to execute the retirement plan division based on the property division in the divorce decree. This issue can create problems in a Fort Worth divorce. If you have retirement plans among the...

Continue reading

What is the difference between alimony, spousal maintenance and spousal support in Texas?

There is no guarantee of alimony or spousal maintenance in a Texas divorce. Texas, like many states, changed its family relations laws (our Texas Family Code) in recent decades to curb the power of family court judges in Fort Worth, Bedford, Dallas, and around other part of Texas, to grant any type of spousal support following a Texas divorce. Along with changes to the Texas Family Code, the legislature adopted specific terms to refer to types of spousal support. Outside of divorce lawyers and family courts, these terms are often used interchangeably. As a result there is confusion about what...

Continue reading

Military retirement and Texas divorces

Military pensions, or military retirement, is a complex and tedious part of a Texas divorce. Generally, dividing retirement plans in divorces can be complex legal and financial undertakings; but military pensions carry unique functions that affect how they fit into a divorce in Dallas and Fort Worth. What works in one divorce may not be remotely close to the right course of action in the next. The flexibility of military retirement can be extremely useful to both parties in a Texas divorce. It allows the parties to craft a unique division that works in the overall property division. (Private employer plans,...

Continue reading

Divorce agreements and duress in a Bedford, Texas divorce with Bedford divorce lawyer Adam Kielich

Around the interwebs, I see a lot of people in the midst of divorce, or after the divorce has been granted by a Texas court, that they signed a divorce agreement, mediated settlement agreement, or divorce decree but that they signed it "under duress", "under pressure", or they were "forced to sign it." These statements typically come along with a question about whether the agreement or divorce decree can be overturned or set aside by a Texas divorce court. The answer is typically no but let's explain why. If you expect to divorce your spouse in the near future then...

Continue reading
error: Content is protected !!