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Plano Family Law Blog

Who gets the vacation home during your Texas divorce?

When you've decided to file for divorce, you may worry about a lot of different things. Who will receive custody of the kids? Will you have to sell your home and move? What happens with your lake house or vacation properties? There is no simple answer to any of these questions. If you and your former spouse can't agree on the terms of your divorce, such as who gets custody and how to split your assets, the courts will have to review your situation and decide on your behalf. When that happens, it's difficult to predict what the final divorce decree will include for asset division and custody.

Generally, Texas is a community property state. Any assets accrued during your marriage are treated as marital property for the purpose of asset division. Unless you have a prenuptial agreement in place, it's very likely that everything from your vacation home to your retirement accounts will get split in a fair and equitable manner as determined by the courts. If there's a particular asset you hope to retain, such as a vacation home filled with precious memories, you may need to take extra steps to ensure the outcome you want in court.

What you need to know about divorce in Texas

After more than 20 years of marriage, you have decided that it is time to start over. Since the kids are grown and in college, you do not have to worry about a long and ugly custody battle because of your divorce. However, you are concerned with how the court will divide your marital property. Will the judge give you 50 percent of everything you and your husband own? Will you have enough to support yourself? Are there any special laws you need to know about when it comes to divorcing in Texas?

Divorce is usually complicated. It becomes even more so when there are high-value assets involved. An experienced family law attorney in the Plano area can help navigate what can often seem like a convoluted and traumatic experience. Before starting the process, it may be helpful to have some knowledge of basic divorce laws in Texas.

4 ways to make divorce easier on children

Divorce is never easy, and sometimes it's the children involved who suffer the most. While both parents are caught up in the logistics of divorce, it can mean that children don't receive all the attention and reassurance they need. Fortunately, there are many ways to make your child feel cared for and important during a divorce.

Let's say you have a son: To this child, a divorce may seem like the end of the only world he's ever known. Reassurance can help your child understand that you're there for him, no matter what happens. Here are four other ways to help him get through the divorce easier.

Is your home insured for natural disasters?

We live on a planet where virtually any kind of catastrophe could happen. No one tends to think about this, but your homeowner's insurance company thinks about it all the time. Furthermore, with the effects of climate change, unexpected natural disasters are becoming more commonplace.

Depending on where you live, there could be the risk of home damage from a "snowpocalypse," hurricane, tornado, flood or earthquake. Worst of all, in the unlikely event that something like this happens, most homeowners will not be able to seek insurance benefits to pay for the destruction of their homes.

Considering divorce? Three tips to protect your family business.

A family business generally offers owners more than just a career - these businesses are personal. As such, those who find themselves considering divorce may have concerns that their business could be at risk.

These concerns are valid, but proactive steps can be taken to help reduce any negative impact a future divorce may have on the business.

Protect yourself against commercial real estate investment errors

Commercial real estate can be a viable business interest for entrepreneurs and investors, but if you're looking to get your toes wet in this industry, it's a good idea to learn about some common beginning mistakes. Errors now can cost you a lot of money, time and stress in the future, so you might want to surround yourself with strong financial and legal professionals who understand the business and can guide you toward safe, profitable decisions.

One common mistake people make as they enter the commercial real estate market is failing to perform due diligence before signing a contract or making a move on a property or project. It's not enough to inspect the property or check out the people you are getting into business with, though both of those steps are important. You also need a deep well of knowledge to draw from regarding zoning laws, insurance requirements, tax law, accounting and contracts. Failing to understand how each of these areas might influence a property or project can mean major economic loss for a project or unplanned delays.

Ensure you follow the laws when deal with a prenuptial agreement

When you get engaged, you expect that the union will last forever. Many people discover that life doesn't play out that way. One way that you can protect your interests in case your upcoming marriage ends in a divorce is through a prenuptial agreement. This agreement is something that would spell out what happens if you divorce. You could include how assets would be divided and other points that you feel are important.

We understand that this might not be a topic that you want to think about since you're not even married yet; however, thinking about it long before the wedding date is crucial. There are specific laws that govern prenuptial agreements. These laws are in place to ensure that a person isn't forced to sign a prenuptial agreement, and that if someone is forced, the agreement is considered invalid.

Plano tower fetches record price as real estate trends continue

Recent action in the Dallas-Fort Worth commercial real estate market has shown a continuing demand and a trend towards higher sale prices for prime suburban properties.

Earlier this year, we noted that office leasing activity in Dallas-Fort Worth was on the increase, resulting in increased rents and decreasing vacancies. Businesses looking to establish a base in the region have been short on options for affordable rental space. As such, new developments have attracted interest from commercial landlords looking to meet the demand – and prices are skyrocketing as a result.

Cost-cutting a top priority for many small businesses

Among the things that can impact how financially successful a business is is how much in the way of costs it faces as part of its regular operations. So, it’s not a shock that cost-cutting is something many businesses care deeply about. Just how important of a role small companies view cost-cutting to have in their overall chances of success can be seen in a recent survey.

The survey was done by the Zurich Insurance Group. Among the things polled business owners were asked about was what they saw as the most critical business opportunities. The survey’s results indicate that for nearly half (44 percent) of U.S. smaller businesses, cost reduction is seen as such an opportunity.

Stresses related to child care

Child care can be a critical thing for a family. For some families, it can be essential in the parents being able to hold the employment necessary to support the family. However, it can also be a source of stress for a parent.

One type of stress that child care could bring about for a family is financial stress. Child care costs can be high. Thus, child care can be a source of financial struggles for many families. This can be seen in a recent survey of parents of pre-kindergarten aged kids who have their child in some type of nonparental child care at least one time a week. Of the respondents who said they pay for child care, almost a third of them said the costs of child care gave them financial difficulty. And of those that indicated that such expenses gave them financial problems, around 7 out of 10 indicated that the problems in question were somewhat or very serious in nature.

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