Divorce and Money in Texas

Divorce and Money in Texas

Divorce and Money in Texas

This is the August episode of The Barrows Firm monthly divorce and family law podcast focused on divorce and money in Texas. Today we visit with Leslie Barrows about the issues involved when people divorce, and money is a significant issue.

We work hard building careers and wealth to secure our future and retirement. There are many divorces where people decide to leave one another on better terms than others who may be seeking what they believe is a just and right settlement of the marital estate. From wasting assets to fighting and cheating, there are triggers that cause money to play a greater role in a divorce.

 

Divorce and Money issues in high stakes divorces in Texas

  • Pleading fault grounds
    • Increased share of community estate, what is “right and just”
    • Adultery, cruelty, abandonment and felony convictions
    • Balancing litigation resources and potential gain
  • High net worth divorces
    • Spousal support outside of the guidelines
    • Child support set higher than guideline support
    • Complex income, net resources and asset calculations
  • Business assets and income
    • Owning a business and getting divorced
    • Valuing investment property and income
    • Divorcing a spouse with shares in a family business
  • Hiding and wasting assets
    • Fraud on the court and reconstituting the community estate
    • Wasting marital assets, infidelity and investigations
    • Strategy to efficiently investigate missing money

August is back-to-school time for many children in North Texas. Moms who have been working part-time or staying at home with kids will have more time to start a business or move into a higher paying career. As children grow older and need less care, parents have more opportunities to also focus on money and paying for the near and further future. Read this recent Dallas Morning News article on Austin’s Robin Hood plan.

Discussing child support issues in high-income divorces, health insurance remains an important issue to address as well as children in daycare and those with special needs. Leslie talks about sitting down and comparing policies and deductibles to determine how insurance coverage should be carried during and after the divorce, in the best interests of the children.

Notes from half-time:

  • Leslie talks about the Carroll Education Foundation and the $1 million goal to raise money to address the Robin Hood factor wherein less money is coming from Austin per student enrolled in Carroll ISD.
  • As children grow older and are in school full time, many parents who stayed at home with kids or were limited to part-time work can investigate new opportunities to earn more income for the future through either a new job or starting a business. Leslie talked about the opportunities in local chambers of commerce in Southlake and Grapevine where opportunities arise as we all get to know more people we know, like and trust.

People use The Barrows Firm in Southlake when they have issues with divorce and money in Texas and need a lawyer with unique experience in high net worth divorce and family law issues. You may contact The Barrows Firm online or call the office at (817) 481-1583 to make an appointment with Leslie Barrows.

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