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Dallas Divorce and Family Law Blog

Protecting the interests of the kids by seeking co-parenting tips

Going through the end of a marriage can be a stressful and daunting process. Regardless of what led you and your soon-to-be ex to decide to part ways, you might worry about how this experience will impact your life and wonder how long it will take the two of you to be able to maintain a civil relationship.

In some cases, being civil might not be a concern, as you could be eager to move on and open a new chapter in your life. However, if you have children together, learning how to put feelings aside and make decisions based on the needs of the kids could be key to learning how to co-parent effectively.

Protecting your business in divorce

Being an entrepreneur, and having the freedom to create and control your own business can be extremely rewarding. However, when your marriage is on shakey ground, it can also leave you feeling vulnerable and exposed - not knowing what will happen to the business in the event of divorce.  This is why it is so important to get information early on in the planning process, so you can make smart decisions about your business, and your divorce.

What kind of planning you will need to do to protect your business in the event of a divorce will depend on many factors, including: the type of business entity you own, whether the shares are transferable, whether you have partners or other shareholders in the business, when the business was formed. 

For instance, if the company was formed before marriage, it may be possible to establish that the business is separate property. If that is the case, it is imperative that the owner of the business keep good records of financial contributions and withdrawals made during the marriage.

Prenuptial agreements can address certain issues

Prenuptial agreements present Texas couples with an opportunity to understand each other's financial situation and make decisions about what should happen during a divorce. People who know that they will receive an inheritance often have an interest in separating these assets from the marital estate prior to exchanging vows. Potential income disparities between spouses resulting from one party's choice to forgo a career and stay home to raise children might also be covered by the contract in regards to compensating the unpaid individual in a divorce settlement.

Sometimes after a marriage a spouse unexpectedly receives an inheritance. Such a development could not have been anticipated when the original prenuptial agreement was negotiated. A person concerned about how a divorce could influence a sizable influx of money has the option of addressing the issue with a post-nuptial agreement. This contract would supplement the existing prenuptial agreement. Ideally, an inheritance received after marriage would be addressed before the assets become mingled with marital assets.

WHAT YOU NEED TO KNOW BEFORE YOU SAY "I DO" IN TEXAS

     When you are married and living in the State of Texas, there are rules that apply to your marriage, unless you enter into an formal agreement known as a premarital agreement (before marriage) or marital property agreement (after marriage).  Here is a list of common rules spouses are often "surprised" to learn apply to them:           

Moving In Together or Getting Married After College Graduation?

Congratulations!  You're graduating from college, and you've met the love of your life!  You may think now is a great time to move in together, or maybe even tie the knot.  Have you thought about the legal consequences of making such heartfelt decisions?  You should! 

Students graduating from college, especially those who go on to graduate school such as law or medical school, should really consider having a legal agreement with their significant others if they choose to cohabitate or get married. After all, students tend to be riddled with debt that may take a long time to pay off, and the decisions made at this stage in the relationship may have a lasting impact.

Why you may want to keep a divorce out of court

Many people associate divorce with contentious court battles. However, a divorce doesn't have to go down that path. There are strategies that couples ending a marriage can pursue to keep things out of the courts. There are a number of benefits that avoiding litigation can have for divorcing couples and their families. Below we'll point out three major ones.

Top 10 reasons to not file for divorce

Ask anyone who has been married for a long time, and they will likely tell you about a difficult time in their marriage. Just because marriage gets hard, doesn't mean it's time to quit.

In fact, some of the most rewarding marriages grow stronger after a period of great dissatisfaction. Here are some signs you shouldn't give up on your marriage:

Are there any drawbacks to signing a prenuptial agreement?

If you are planning to marry in the near future, you are likely not planning on what will happen if your marriage ends at some point. Thinking about death or divorce before you even walk down the aisle may not seem like a romantic prospect, but it can be helpful to think about how you can protect your interests. One way you can do this is by creating a carefully prepared prenuptial agreement.

A prenuptial agreement can allow you to make decisions before you are married about how property division will work in case of a divorce, how money and property will be managed during the marriage, and how assets will be divided when the marriage ends due to death. It can also provide various other benefits and provide you with peace of mind before you get married. However, it is prudent to understand the implications of any financial and legal choices you make, and it is helpful to weigh the benefits and potential drawbacks of drafting a prenuptial agreement. 

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Hargrave Family Law Jennifer S. Hargrave, P.C.

Hargrave Family Law
4201 Spring Valley Rd.
Suite 1210
Dallas, TX 75244

Phone: 214-420-0100
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