W. Tyler Moore, PC

Posts tagged "High Value Divorce"

What issues do business owners face in a high value divorce?

Some married couples in Texas are also business partners. They both may have put a lot of hard work into ensuring their business is successful. Oftentimes, a family business is the most valuable asset a couple owns. Therefore, should the couple decide to divorce, they may want to see that they are treated fairly when it comes to property division and the business they have cultivated for years through the sweat of their brow.

Do not try to hide assets in divorce

Touted as one of the largest types of cryptocurrency worldwide, Bitcoin is a digital currency that is not linked to a bank or credit union and is not backed by any sort of governing authority. This means that Bitcoin accounts can be kept secret, and transactions done over the Internet using Bitcoin can be kept anonymous. This makes identifying these assets difficult because there is no paper trail.

Tax bill could significantly affect divorced couples in Texas

People in Texas who have been following political news may be aware that the proposed Republican tax bill could negatively affect those who pay spousal support. However, do those who are contemplating ending their marriages and are anticipating having to pay spousal support need to rush to finalize their divorce before the bill becomes law, especially if their divorce will be a high value divorce?

Watch out for these high value divorce pitfalls

Any divorce is an emotional affair, but the stakes are higher when it's a high-asset divorce. When couples in Texas have substantial assets to divide and the issue of spousal support is on the table, neither party wants to leave the divorce process feeling short-changed. However, it is important to think with a clear head. An attorney can be a great asset in helping their clients look at their divorce legal issues objectively, so they can reach a result that is fair.

Family law becomes complicated when doctors in Texas divorce

It takes years of schooling and hard work to become a doctor in Texas. Oftentimes, if the doctor is married, they may say that they could never get through medical school without the support of their spouse. Many times, when one spouse is going to medical school, the other spouse will do what it takes to support their spouse in this endeavor, even if it means giving up their own schooling and job opportunities. Then, once a spouse earns their medical degree and starts working, the spouse who had supported them during medical school will then stay at home to care for the family.

Could retirement plans be subject to property division in Texas?

When younger couples in Texas decide to divorce, they may not give much thought to how their divorce will affect their retirement plans. However, this is a very important topic that individuals seeking a divorce should keep in mind, particularly if they are facing a high value divorce. In fact, according to one study, almost 25 percent of "baby boomers" who have ended their marriages reported that the divorce would leave them "worse off" when it comes to retiring, and almost 24 percent reported that they will need to remain in the workforce longer because they divorced. For these reasons, individuals of any age going through a divorce should keep retirement in mind.

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