The divorce process is seldom easy for all parties involved. Each side generally has a view as to what they believe they deserve and are entitled to, and these views often vary widely between each divorcing spouse. One of the most heated decisions to be made during a divorce are decisions regarding children from the marriage such as child custody.
If you are married and own a business, did you know that if you dissolve your marriage your spouse may be entitled to half of your company? As Texas is a community property state, the law assumes you and your spouse each own 50 percent of all marital assets if you get a divorce. So, unless you take the steps necessary to protect your company, you may need to prepare yourself for the worst.
The end of a marriage is one of the most stressful and confusing times a person can go through. Feelings of grief, depression and fear are often supplanted by anger and bitterness. A person going through these conflicting emotions is often intimidated by the legal process. That's why it's a good idea to have a divorce attorney at one's side who can help make the difficult decisions.At the Dallas law firm of Katie L. Lewis, P.C. Family Law, we understand what our clients are going through, and we are committed to listening to them and fighting for their rights.
Dallas-Fort Worth area residents who are headed for divorce often wonder what records they should bring to their first meeting with a divorce lawyer. In many cases, the lawyer's office will indicate when the client calls to set up the first meeting what documents the client should bring. This post is simply an overview of what an attorney may want to see at the first meeting or soon thereafter.
When a married couple divorces, they must divide their marital property according to state law. Texas law uses the community property system, where all property acquired by either partner during the marriage becomes part of the community property of the marriage, with a few types of exceptions. This means that just about everything the couple owned together during the marriage must be divided according to state law. Community property can include bank accounts, investment accounts, automobiles and just about any other type of asset.
Texans who are considering the end of their marriage might have ideas as to what it entails, but not be completely sure regarding the law of divorce decrees. For example, the state has certain grounds for divorce that must be met to move forward with the process. In short, there must be a reason or reasons for the divorce to happen. Understanding this can assist in making the decision and smooth the process. While the reasons for the divorce are relatively flexible to meet, it is still wise to know them when determining whether the marriage can be salvaged through divorce mediation or ending the union is preferable.
The end of a marriage does not mean the end of your family. Parents remain obligated to their children financially and, hopefully, emotionally even after a divorce. For this reason, determining custody and scheduling visitation is an important part of the divorce process.
It is likely that as young, star-crossed lovers you did not sign a prenuptial agreement. It is very common, and a hindrance for divorcing business owners. This is especially true for business owners in Texas. Texas is one of the small set of states that are considered community property states. This means that any assets acquired during marriage are considered "community property" between you both. This includes your business.