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February 2013 Archives

Ensuring financial security during a divorce

Many Texas women who have gone through the contentious process of dividing assets during a divorce wish they had handled things differently during the marriage. Since property division can be a complicated process, especially if one of the spouses handled most of the family's finances, many women report wishing that they had known more about their husband's business, financial situation and other financial assets.In order to maintain their financial independence, some women have considered opening a secret bank account that their husbands may not know about. There are a few pros and cons to consider before establishing such an account, however. One of the advantages is that a woman can maintain control of her financial situation and not be left in a bind should the marriage fall apart. In many cases, one spouse will empty a joint bank account as a retaliative action in the event of a divorce, leaving the other with little to no resources to hire his or her own legal representation. In this situation, it can be empowering to have money set aside that the other partner does not have access to.

When to consider a prenuptial agreement

While planning the details of a prenuptial agreement can certainly take the romance out of planning an upcoming wedding, an increasing number of Texas couples are considering it to avoid costly divorce proceedings in the future. A prenuptial agreement is used to decide how assets will be divided should the marriage fail. While it is common for wealthy couples to have a prenup in place, even couples of average income can benefit from drafting one before getting married.Many individuals are deciding to marry later in life after they may have established assets. Finance professionals advise that individuals consider his or her net worth before getting married. This is especially important if one or both have a net worth over $100,000. Prenups are also useful when one member of the union has keepsakes or family heirlooms that he or she does not want to risk losing during a divorce. These details can all be discussed and agreed to before the marriage takes place.

Texas father seeks sole custody of child

Earlier this month, a Texas man headed to court in an attempt to gain sole child custody of his daughter. This action comes after the man's ex-wife disappeared with both of her daughters and attempted to flee to Mexico with them. One of the children is the ex-husband's biological daughter while the other is the ex-wife's child from another union. The ex-wife violated the terms of the existing child custody arrangement when she tried to take the children to Mexico. She was arrested when she tried to obtain passports for herself and two children. Her ex-husband suspects she planned to drive through Mexico to get to Belize, a trip that he said can be especially dangerous for a woman to make alone with children.

Reasons to add real estate appraisers to the legal team

Texas couples going through a divorce have many issues to negotiate in order to reach a settlement. One of the more complicated issues surrounding a divorce is how to divide the marital property, including real estate acquired during the marriage. This process can be especially complicated when the couple owns more than one piece of property,In order to eliminate some of the confusion and ensure that the process is handled fairly, it is common for divorcing couples to seek the services of professional real estate appraisers. Appraisers can pull the comparable properties that have sold in the same market to get a fair market value of the property. However, there are several factors that go into this process, such as uncommon additions to the property, and determining the actual value of a property involved in a divorce can be complex.

Deion Sanders wins expanded parenting rights in court

Former football and baseball player Deion Sanders won a major victory in a Texas court concerning the child custody terms of his ongoing divorce. Sanders has been locked in a bitter divorce with his former wife, with whom he has three children.A Collin County judge recently ruled in Sanders' favor, allowing him and his former wife to share custody of their children, as well as granting Sanders complete control over decisions pertaining to the children's education, living arrangements and athletic activities. All other parenting decisions will be shared jointly between Sanders and his former wife. Sanders' ex-spouse previously had control over decisions concerning the children's education.

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