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Divorce Archives

Saturday, April 21, 2018

Prenups must be done right

Prenuptial agreements can help resolve many potential complex disputes in a divorce. But, like any contract, Texas courts can refuse to enforce an unfair or poorly-drafted agreement and further complicate a divorce.

Put post-divorce finances in a crystal ball

A divorce in Texas and throughout the country present uncertainties on issues such as property division and child custody. These insecurities do not end with the divorce decree as research shows that almost three-quarters of America's 25 million divorcees are concerned over financial instability.

Alimony is not always tax deductible

Consideration of the tax consequences of a divorce decree or settlement are among the first steps for a spouse at the end of a marriage. A divorced Texas taxpayer recently learned that a poorly-drafted settlement agreement can impose tax liability.

Negotiating a divorce, even when times are good

Prenuptial agreements, made before marriage, are common in Texas. They can help resolve complex disputes if the marriage ever ends. Couples who never executed these contracts, however, can enter postnuptial agreements that can act as a divorce "insurance policy" that is hopefully never used, and which can set forth future expectations.

Tax bill could hit alimony recipients

New tax reform legislation before Congress, the Tax Cuts and Jobs Act, may end the deduction that federal taxpayers receive for making alimony payments to their former spouses. If enacted, the law could change divorce proceedings, property division and settlement negotiations in Texas and throughout the country.

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