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July 2014 Archives

Financial arrangements after divorce for Texas residents

Couples in Texas who are considering divorce must also think about how doing so will affect their financial situation. Individuals may think that they will be required to pay alimony or that they will be able to support themselves using alimony, but these laws have changed over the past two decades.

Home division in the wake of divorce

For Texas couples going through divorce, plenty of aspects of the divorce process may seems daunting. Few tasks seem more difficult that the division of the home. Of course, this isn't a concern if the couple rents a home, but when the spouses own a home together, it can be challenging to find a fair way to divide the asset. Perhaps the least complicated way to deal with this issue is to sell the home and split the profits. More often than not, though, one person wants to keep the home. When this happens, it's customary for one spouse to pay the other and then acquire full ownership of the house.

Separating spouses should seek retirement benefits over houses

Individuals in the midst of divorce in Texas may not be aware that they may be able to claim a share of their spouse's retirement benefits. According to a survey conducted by the Securian Financial Group, 31 percent of the 546 people interviewed did not know claiming retirement benefits was an option and a quarter of those surveyed stated they wished they had been more knowledgeable about how to properly divide these benefits.

Ex-wife of former Dodgers owner must pay ex-husband's legal fees

Dodgers fans in Texas might be interested to know that a superior court judge decided on June 24 that the previous owner of the team is entitled to almost $2 million in legal fees from his ex-wife. After receiving more than $130 million dollars and several pieces of property in the divorce settlement, Frank McCourt's ex-wife Jamie McCourt contested the terms.