What Happens To The Family Business In A Divorce?
If you and your spouse created a business together and are looking to dissolve your marriage, you may be wondering what will happen to the business. Texas courts view family businesses as assets, which are subject to division during a divorce. As Texas is a community property state, any business that was acquired or created during the marriage will need to be divided in the event of a divorce. Today, we discuss how a family business could be divided during the divorce process and what you need to know about how business assets are handled in a Texas divorce.
FAQs Regarding Same-Sex Couples & Divorce
In 2015, the United States Supreme Court made same-sex marriages legal in all 50 states. Prior to this ruling, same-sex marriage was not recognized in the state of Texas – and neither was same-sex divorce. While the same marital laws that apply to married heterosexual couples are now available to married same-sex couples, that does not mean getting a same-sex divorce in Texas is a walk in the park.
How To Get An Annulment In Texas
An annulment declares a marriage invalid. As such, this marriage will be found to have never legally existed. There are several grounds in Texas under which an individual can file for an annulment, including the concealment of a divorce. When you annul a marriage, your marriage is declared void meaning it is like you never had a marriage at all. Legally, you can say you were never married to your ex-spouse. So, how do you go about navigating the process of an annulment and what do you need to do to prove an annulment?
How to Determine If You Are Eligible For Spousal Support In Texas
Spousal support consists of payments one spouse makes to the other temporarily to support him/her after their divorce. Spousal support can help the receiving spouse pay for education or training so he/she can return to work, become financially self-sufficient and eventually be able to contribute to their child’s needs. Either spouse can request spousal support, or spousal maintenance as it is called in Texas, at any point during the divorce process.
Property Division: How Does The Court Determine What Is Fair?
When it comes to the division of marital property, or property acquired during marriage, Texas divides property in a manner that is considered just and right during a divorce. In other words, the courts in the state try to be as fair as possible when making property division determinations. As this is not always easy, the court must use their discretion to divide a marital estate, relying on several factors to help with their decision-making process.
What Are The Fault-Based Grounds For Divorce In Texas?
You can file for a fault-based or no-fault divorce in Texas. If you ask the court for a no-fault divorce, you do not have to include a reason as to why you are requesting a divorce. However, you can also point a finger at your spouse’s misconduct and use that as your reason for filing for divorce as well. The decision is entirely up to you, but you may want to familiarize yourself with the fault-based grounds for filing for divorce in Texas below first.
Can You Modify A Holiday Parenting Plan?
One of the important components of a divorce is generating a holiday parenting plan. Such a plan provides structure during the holiday season, making it easier on parents – especially ones new to co-parenting. However, what happens when circumstances change, and you want to modify a holiday parenting plan? How do you make a modification?
The Benefits Of Estate Planning
The main advantage of having a valid estate plan in place is to make sure your last wishes are executed upon your death. Without one, your estate is not protected from Texas’s intestate succession laws and the state will determine who will inherit your property and other assets. Not only does a valid estate plan ensure your loved ones will receive their proper inheritance, but it can also help your beneficiaries avoid certain taxes and other legal requirements when it comes to the distribution of property.
How Child Custody Is Determined In Texas
To understand how child custody is determined in Texas, it is important to bring up the different types of child custody first. Child custody consists of two types: physical custody and legal custody. Texas often refers to physical custody as possession and access and legal custody, or anything associated with legal custody rights, as conservatorship. There are two types of conservatorships: sole custody and joint custody.
Differences Between Collaborative Divorce & Mediation
Collaborative divorce and mediation offer a similar approach to the divorce process. Both are voluntary, often amicable, methods of divorce alternatives that resolve matters outside of the courtroom. The goal of each method is to come to a resolution that is deemed fair for both sides involved. Today, we discuss the differences between collaborative divorce and mediation to pinpoint the advantages and disadvantages of each.
Can My Spouse Quit Their Job To Avoid Paying Spousal Maintenance?
Your spouse may try out a dirty divorce tactic such as quitting their job to avoid paying spousal maintenance. This is a threat that your spouse may attempt at some point when your spouse realizes they may be forced by the court to pay spousal maintenance for years (or indefinitely, in some cases).
Dirty Divorce Tactics To Watch Out For
Not all spouses will play fair in a divorce. If you are concerned that your spouse may be guilty of one of the following so-called “dirty divorce tactics” it would behoove you to consult with an experienced divorce attorney immediately. Attempting to retaliate against your spouse will not do any good. Your lawyer will be familiar with such tactics and can help devise a strategy with you to protect you in the event your spouse continues with this behavior.
FAQs About Establishing A Power Of Attorneys
Have you ever thought about the most important document in your estate plan? While you might consider awarding your will with this title, it could be a power of attorney. In fact, in many instances, it is a financial power of attorney. A financial power of attorney allows another individual to make financial decisions on your behalf in the event you cannot.
Should You Keep The House For Your Kids After A Divorce?
Determining if you should keep your marital home during a divorce is a hard decision. On one hand, you do not want to move your children into a new environment while they are going through a transition period. On the other hand, you might not be able to afford your marital home on your own without your spouse’s help. Today, we go over the reasons why you may or may not keep your marital home for your children during a divorce.
What Are The 6 Emotional Stages Of Divorce?
It is heartbreaking to go through the process of losing a marriage. In many ways, an individual going through a divorce exhibits some of the same feelings as someone who is grieving the loss of a loved one. These stages bring out emotions such as anger, frustration, sadness, and depression, which can hit at any moment. Everyone responds differently to divorce, but one thing is for certain: it is easier to have a general understanding of which emotions you may face as you move forward with the process.
Hannah Hembree Bell Featured In Attorneys At Law Magazine
Our very own Attorney Hannah Hembree was recently featured in Attorneys at Law Magazine, discussing her life, career, and the philosophy of our team here at Hembree Bell Law Firm.
What Is Commingled Property & How Will It Impact Your Divorce?
When going through a divorce, part of the process requires you to determine what is considered separate property and what is marital property. So, what happens when your separate property gets mixed up in your marital property? Now, that property is what is called commingled property. An example of this would be if you owned a home before getting married, got married, and then you and your spouse decided to pay the mortgage on your house together as a unit. Your house has now become commingled property.
Child Custody Rights For Unmarried Parents
More children now than ever before are living with unmarried parents. In fact, the United States has the world’s highest rate of children living in a single-parent home. While child custody matters are straightforward for married parents, they can get more complicated for unmarried parents.
A Step-By-Step Guide On What Happens During Probate
If you are not familiar with the probate process, it may seem a little overwhelming at first. Probate is the process that happens after a person dies and leaves their assets and property behind without transferring them over to an heir or naming any beneficiaries. The assets and property will then be distributed by the Texas court system through probate.
How To Talk With Children About Divorce
Divorce is never easy, but it becomes even more difficult when children are involved. Understanding how to communicate about divorce with your children can be a critical step in maintaining healthy parent-child relationships throughout, and after, the divorce.