Year: 2020

You cannot ignore the financial side of a divorce. You need to prepare for it properly. For some couples, it can be difficult to focus on things like budgets and financial statements during such an emotional time, but it is critical.

The first step is to gather all of the documents that you will need during the divorce itself. For instance, you will want to get tax returns for at least the last five years. You also want to get proof of earnings, such as a 1099 or a W2. It can be wise to make copies of your spouse’s documents, as well, so that they can’t claim to earn less than they do.

Don’t forget about long-term financial questions. Take the time to get paperwork relating to retirement funds, investments, pension plans, life insurance policies and the like. You may not be using these financial assets yet, but they have great value and will impact your future.

Finally, start thinking about how your costs will change. If you’re going down to one income, make a new budget to reflect it. Ask questions about spousal support and child support, if applicable, and learn about your rights. Take the time to consider all of your expenses and how you may need to adjust them to make things work smoothly after you end your marriage.

When you carefully consider your finances from all of these different angles, you set yourself up for success in the future. Be sure you know what steps to take to make that future as bright and stable as possible.

Sharing custody of children during the pandemic can be difficult. Parents may have questions about what is in the best interest of their children and whether or not meeting that interest would violate a court order. Although the exact answer depends on the details of each case, the following basic information can help you navigate this difficult situation.

Parents may be concerned that time with the other parent poses a dangerous risk of exposure to the novel coronavirus. This is particularly true for those who may be exposed to the virus at a higher rate than the general public, such as ER doctors. In fact, an ER doctor recently lost custody of her daughter when her ex-husband filed an emergency petition with the court requesting full custody of the child. He argued that the change was, at least at the moment, in the child’s best interest. The court agreed. The judge stated he took various factors into consideration when making his decision, including a recent increase in confirmed cases in the area the mother serves as a physician. He also emphasized the fact the change was temporary.  

Parents that are not getting the agreed upon time with their child are wise to keep a record of missed dates. Keep track of the time you were supposed to have with your child and why it did not happen. Retain these records and use them after the national emergency ends to see if the court will allow you additional time in the future to balance out the time that was missed during the pandemic.

As you prepare for divorce, you’ll have many questions regarding your family home, child custody and the impact on your children.

If you’re fighting for physical custody of your children or your ex-spouse is okay with this, it’s up to you to provide a safe and steady place for them to live. And for that reason, you may want to stay in the family home.

Here are some questions you should address:

• Who has the right to the family home? There is no simple answer to this question, as it depends on the circumstances of your divorce. For instance, if you have physical custody of your children and stay in the family home, you’ll give up other assets in exchange.
• Can you keep up with your family home? It sounds like a good way to provide your children with stability, but if you can’t keep up with your family home you should consider moving on. Staying put can result in financial distress.
• Do your children want to stay in the home? You have to make the final decision, but there’s nothing wrong with getting input from your children. Maybe they don’t enjoy their current school district and would rather get a fresh start somewhere else. This may be the right time to take action.

Divorce will affect you in many ways, including where you live and how you raise your children.

As you prepare for the process, take all these details into consideration. Doing so will position you to protect your legal rights and position you and your children for future success.

Your Texas divorce might be a quick and simple affair, featuring a short list of issues that need to be considered and resolved. That is happily the case for some soon-to-be exes.

Not all, though. In fact, legions of divorces spotlight multiple and varied challenges that must worked through, especially in dissolutions following long-tenured marriages.

We imagine that many readers of our blog posts at the proven Dallas family law firm of Katie L. Lewis can readily tick off a few of those entries. Parenting plans and child custody/visitation rights might come to mind. Ditto child support concerns. Marital property division is customarily a top-tier focus in many divorces.

And then there is alimony, which is sometimes the predominant concern in some decouplings.

Factors that guide judicial outcomes in alimony matters

Spousal support is a state-controlled process, which in Texas translates to a bullet-point listing of relevant statutory factors. It is important to note that, while those factors are closely considered by family law judges, they work as discretionary guidelines. Courts often consider matters like the following:

• Marriage duration
• Educational/training attributes of both spouses
• Age of the partners
• Job/career status and earning capacity of each spouse

A key point to note concerning alimony is the ample opportunity afforded an experienced attorney to play an often influential role in the process and outcome. Courts don’t merely tolerate input from a would-be payee’s or recipient’s legal counsel; they welcome well-reasoned and persuasive alimony arguments that can aid them in reaching an informed decision.

A knowledgeable and empathetic family law attorney can provide further information.