By the thousands, couples are living together without marrying these days. This growing phenomenon has produced a noticeable increase in cohabitation agreements to clean up the mess when relationships go off the rails. According to a 2013 report from the Centers for Disease Control and Prevention (CDC), fully half of heterosexual women ages 15 to 44 lived with their spouse outside marriage, up from 34% in 1995. A well-constructed cohabitation agreement should spell out the following: The couple’s financial structure, including who works and who doesn’t, and who pays for what. What are the obli ..read more

Divorce can lead to some major changes for your family, and it is natural to fear what you do not understand and cannot predict. Parents often worry about how ending their marriage will affect their relationship with their children, including how much time they will get to spend together and what cost-sharing will look like. When you understand what shared custody arrangements typically look like, you may feel more confident. Under Texas state law, judges oversee custody proceedings with a presumption that shared conservatorship, or shared custody rights, would be in the best interest of the c ..read more

When your marriage ends through divorce, it can be hard to picture your financial future, especially if you are unsure of which financial assets you can fully retain, and which are likely to be divided, including IRAs, retirement accounts, pension plans and stock options. Should you keep the $400,000 home in exchange for your spouse keeping the $400,000 401(k), and what are the IRS requirements and tax implications for each? What is the present-day value of each of these assets? Are 100% of these assets community estate property or is a portion of them the separate estate of a spouse? Calculat ..read more

Property division laws are often a main concern for those contemplating a Texas divorce. Most couples find themselves trying to sort their property and divide their assets while their relationship is at its worst point. Arguments are common, and many couples end up going to court because they simply can’t agree on what is fair. Texas is one of nine states that is a community property jurisdiction. In general, this means that any property acquired during a marriage (with a few exceptions) is equally owned by both spouses regardless of which spouse’s name holds title of that property or whi ..read more

If you are considering filing for divorce in Texas, you should be aware of several unique aspects of a Texas divorce to make the best decision for yourself and your family. The rules for marital dissolution differ in every state, which means that the advice you receive from your divorced friend, or your well-intentioned coworker, may not really benefit you if they pursued divorce in another state. Circumstances very greatly in a divorce. Five questions below are among the most common for those thinking about the end of their marriage. 1. Where can I file for divorce in Texas? There are residen ..read more

When you decide to get married, you imagine spending the rest of your life with your spouse. That is the goal and intention of marriage. Unfortunately, many couples find that married life is much harder than they expected, and for many different reasons, a divorce ensues. Here we offer The Five Truths to help minimize the difficulties as you move on from an unhealthy or unhappy marriage. Divorce is a marathon, not a sprint. Divorce can take months. If you have children, it could even last more than a year. The way you handle things prior to and in the earliest days of divorce can impact how th ..read more

Divorce can lead to some major changes for your family, and it is natural to fear what you do not understand and cannot predict. Parents often worry about how ending their marriage will affect their relationship with their children, including how much time they will get to spend together and what cost-sharing will look like. When you understand what shared custody arrangements typically look like, you may feel more confident. Under Texas state law, judges oversee custody proceedings with a presumption that shared conservatorship, or shared custody rights, would be in the best interest of the c ..read more

Tax season is a mere speed bump on your financial highway if you are facing a divorce. Most post-divorce life changes will indicate a change to your income taxes. Here are changes that may affect your taxes after divorce. Tax filing status may change This is the easiest of the tax-planning areas to understand, because the rules are simple. Your federal filing status is determined by your marital status as of Dec. 31. Once your divorce is final, your filing status will change to either single or head of household. The main difference is that head of household has additional requirements related ..read more

When your marriage ends through divorce, it can be hard to picture your financial future, especially if you are unsure of which financial assets you can fully retain, and which are likely to be divided, including IRAs, retirement accounts, pension plans and stock options. Should you keep the $400,000 home in exchange for your spouse keeping the $400,000 401(k), and what are the IRS requirements and tax implications for each? What is the present-day value of each of these assets? Are 100% of these assets community estate property or is a portion of them the separate estate of a spouse? Calculat ..read more

Property division laws are often a main concern for those contemplating a Texas divorce. Most couples find themselves trying to sort their property and divide their assets while their relationship is at its worst point. Arguments are common, and many couples end up going to court because they simply can’t agree on what is fair. Texas is one of nine states that is a community property jurisdiction. In general, this means that any property acquired during a marriage (with a few exceptions) is equally owned by both spouses regardless of which spouse’s name holds title of that property or whi ..read more