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March 2015 Archives

How do you protect your business during property division?

Small business owners and entrepreneurs in Texas may be working so hard on building successful businesses that they fail to stop to think of the consequences of a divorce -- either theirs or those of their business partners. Texas is a community property state, and an unprepared business owner who is going through a divorce may lose half of his or her business during property division. In many cases, small businesses are partnerships, and if one partner's marriage ends in divorce, his or her ex-spouse may end up being an unwanted partner in the business.

Is child custody an option when caring for grandchildren?

When grandparents in Texas agree to take over the care of their grandchildren, their decisions may be emotional. The legal implications may only become evident later. In order to raise a happy and healthy grandchild, certain legal issues may need to be addressed. If the grandparents do not have legal child custody, the decisions they are allowed to make will be limited.

More couples recognizing the benefits of a prenuptial agreement

Many couples in Texas decide that their circumstances and the value of their assets do not justify prenuptial agreements. However, as more and more individuals enter into marriages when they already have successful careers and substantial assets, prenuptial agreements are becoming more and more necessary. Not only do prenups protect spouses in the event of a divorce, but a prenuptial agreement can also make soon-to-be spouses take a long, hard look at their financial situations.

Debts form part of marital property division in Texas divorce

Credit card debts accumulated during a marriage are regarded as marital property during the division of marital assets in divorce proceedings. Texas is a community property state, and even if a particular debt is in the name of one spouse, both may be held responsible. Couples who are considering divorce typically want to move on to a new life post divorce without the responsibility of old debt. If this matter is left unattended, the court will typically divide debts on a 50-50 basis during the property division process.

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Warmbrodt, Winslow & Associates.
One Allen Center, 700 Central Expressway South, Suite 150
Allen, TX 75013
Toll Free: 800-611-2638
Phone: 972-509-2725
Fax: 972-509-2775
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