Wichita Falls Texas Family Law Archives

Money and Property Issues in a Texas Divorce

Nick Augustine April 18, 2019April 18, 2019 Divorce

Money and Property Issues are Common in a Texas Divorce

Money problems are leading factors leading to divorce. Always being worried about money, spending habits, and investment decisions can break a marriage. People with significant money and property can also be the unfortunate targets of people with a hidden agenda. It can be really easy to spend money that another person earned or inherited.

At some point, people may conclude that their spouse is motivated more by money than love, respect, trust or mutual adoration. When it is time to terminate the marriage it is important to protect money and property for your future, and the benefit of your children and any other dependents.

Some common questions people ask about divorce:

Are assets split 50/50 in divorce?
Does the wife get half in divorce?
How are assets divided in a divorce?
Can you settle property before divorce?

Listen to our podcast discussion: Community and Separate Property in Texas.

Attorney Richard T. Sutherland is an experienced Texas divorce attorney in Wichita Falls, serving clients with complex money and property issues all over North and Northwest Texas. Contact the Law Office of Richard T. Sutherland at (940) 691-2100.

Identifying Property in a Texas Divorce

Texas is a community property state. In a community property state, the property owned during the marriage is presumed to be the community property owned equally by the spouses and subject to division in a divorce. Separate property is any property that is not community property. For example, separate property can be property owned by one spouse before the marriage or property acquired during the marriage in one spouse’s name, not used for the benefit of the other spouse or the marriage, such as an inheritance.

The discovery phase of a divorce case includes the process of exchanging information and document requests and demands to identify property owned by the spouses in the marriage. Both the husband and wife identify and disclose their knowledge of property they own or in which they have an ownership interest.

Dividing Property in a Texas Divorce

In a community property state like Texas, people assume that all property is split 50/50 in divorce. The court uses several factors in determining how community property is divided. The standard is a “just and right” division of assets and debts. Judges weigh all the facts and allegations in the divorce to determine what is “just and right.” How the Court may evaluate factors in property division can also be influenced by case law, involving similar facts and allegations in previously decided and published divorce cases.

It is important to note that property subject division in divorce includes not only currently owned and identified property but also retirement accounts and employee benefit plans.

Property identification and division can be challenging, especially where the details of ownership are complex, such as when one or both spouses have an ownership interest in family businesses and trusts.

People contact attorney Richard T. Sutherland for complex money and property issues in a Texas divorce, as attorney Sutherland is also experienced in complex corporate and business law and litigation, which is relevant to complex property issues in high-net-worth divorce.

Allocating Debts in a Texas Divorce

Addressing debt in divorce can lead to conflict. Even though there may be significant assets in a marriage, there may be significant community debt, and for good reason. For example, if invested money earns more interest than the interest on debts, it makes better financial sense to assume reasonable debts. In addition, there can be tax incentives associated with certain debts that can be deducted at tax time.

Community debts of a marriage can be divided by negotiation and agreement by the parties or the Court can order which spouse shall assume which debts. There are options when addressing debt. Community assets can be used to pay down or pay off community debts. For example, using money from investments to pay off a mortgage is one solution. Another is to continue paying the mortgage and the party living in the house assumes the payments. Maybe the other spouse is assuming the payments.

An experienced attorney like Richard T. Sutherland creates a specific financial strategy in every divorce to work towards the financial goals of the client. And when one party suspects the other will fail to make payments on debts, as ordered by the court, another option may be a better idea.

Planning for the Future After a Texas Divorce

When considering divorce financial strategies, the future of parties after the divorce is a primary focus. A high-income earning spouse has different future money and property concerns compared to a non-working spouse.

A divorce financial expert can help analyze a money and property settlement and forecast how assets can generate future income. When there are opportunities for your money to work for you and your future, it makes sense to implement the appropriate strategy in your divorce.

This article offers information about the role of a CDFA (Certified Divorce Financial Analyst).

Security, Stability, and Control of Money and Property After a Texas Divorce

People generally dislike uncertainty in life. Security is a psychological need and being in control of yourself and your future can provide the feeling of certainty and security.

Divorce at any stage in life can give people a sense of security in an uncertain world. Being secure with money and property after divorce is important.

Read, Life After Divorce, an article about the process of moving on after divorce.

Richard T. Sutherland is a Texas Divorce Lawyer Experienced in Complex Money and Property Issues

Attorneys all over North and Northwest Texas refer complex and challenging divorce cases involving money and property issues to Richard T. Sutherland in Wichita Falls, Texas when they need to recommend an attorney they know will execute the best strategy for the client’s financial goals.

Contact him from the website or call the office at (940) 691-2100. Richard T. Sutherland represents people and families in Wichita County, Archer County, Baylor County, Clay County, Foard County, Hardeman County, Jack County, Montague County, Wise County, Young County and Wilbarger Counties in North Texas and has accepted cases in other areas West, North-Central and in South Texas.

Child custody issues in a Texas divorce

wfflwpadm November 2, 2017February 8, 2019 Child Custody

Child custody issues can be challenging and complex. Children only have one chance to be kids and grow up with a bright future ahead of them. Nurturing their growth and development is important and parents in divorce fear a disruption in their children’s lives. The Texas Family Code and courts are focused on the best interests of children and assurances they may grow up in stable and supportive environments.

Family Law, Dirovrce, Child Custody, Habeas Corpus, Modifications, Enforcements, Interstate Family Law, Pre & Post Marital Agreements, Child Support, Interstate Family Support — **Where will the children live during the divorce?**

Not long after a new divorce case is filed, the court will conduct the temporary orders hearing to make initial determinations about where the children will live, which parent may remain in the marital home and how certain finances will be handled. The judge will generally seek to assure a status quo in children’s lives during divorce and keep them their familiar home, school and community. The court considers a variety of factors in the best interests of the children.

If the parents can agree on who will live in the marital home with the children, then the judge will not need to make that decision at the temporary orders hearing, a decision that can be in place for up to a year or more until the divorce is settled by agreement or through a divorce trial.

What is joint managing conservatorship?

In Texas, custody is called conservatorship and there is a presumption that both parents should be joint managing conservators. However, if there are issues involving family violence, drug or alcohol abuse or that which threatens children’s health, safety or wellbeing, one parent may be designated as the sole managing conservator.

A parent with joint managing conservatorship has the authority to make decisions for a child about where they will live and go to school, religious training, medical and dental needs and everything else that goes along with daily living.

How is possession and access determined?

In Texas, visitation is referred to as possession and access to the child. The parents can agree to their own schedule of where the children will be and with which parent, or the court can use a standard possession order at the initial temporary orders hearing. The standard order gives what we may call the non-custodial parent possession and access for a few hours on Thursday evenings, and during the first, third and fifth weekends of the month, alternating holidays and for a month during the summer.

Possession refers to your time with the child in person and your right to have the child with you wherever you may be. Access, however refers to your right to contact your child by phone, text, social media and so forth. You also have access to attend school activities and have access to school and healthcare records.

For information about Texas divorce and family law please call Attorney Richard T. Sutherland in Wichita Falls, Texas by dialing (940) 691-2100.

You can follow Attorney Richard T. Sutherland on social media and find useful articles and resources for you and your family. Richard Sutherland is on Facebook, Twitter and LinkedIn. For a virtual library of blog articles and podcast interviews about Texas divorce and family law please visit WichitaFallsFamilyLaw.com.

Richard T. Sutherland represents people and families in Wichita County, Archer County, Baylor County, Clay County, Foard County, Hardeman County, Jack County, Montague County, Wise County, Young County and Wilbarger Counties in North Texas and has accepted cases in other areas West, North-Central and in South Texas.

Child support in Texas

wfflwpadm November 2, 2017February 8, 2019 Child Support

A Texas court may order either or both parents to support a child until they are 18 years old or graduate from high school, whichever occurs later. In certain situations, paternity of a parent may need to be established before they can be compelled to pay child support. Medical support orders and health care coverage may also be ordered by the court. Generally, when a court orders child support payments, a withholding order is completed and sent to the parent’s employer and the child support money is automatically withheld from their pay and distributed to the custodial parent through the state disbursement unit.

How is child support calculated in Texas?

In Texas, the non-custodial parent is ordered to pay a fixed monthly amount of money for support of a child (called the obligor) based on the number of children the parent is supporting and the obligor’s net resources. The court determines the child support obligor’s net resources by calculating their total earnings and reducing that amount by how much they pay in income tax, social security as well as their contributions to the child’s health insurance and medical support and so forth. The calculations are more complex than simply take-home pay less taxes.

Once the net resources are determined, the child support amount is based on the number of children. For one child, the parent will pay 20% of their monthly net resources. The monthly amount increases with more children: 25% for two; 30% for three; 35% for four; 40% for five and not less than 40% for six or more children.

How does child support modification and enforcement work in Texas?

When the parent ordered to pay support loses a job, receives a significant change in pay or otherwise is not paying child support for a variety of reasons it is possible to modify the child support and ask the court to assist in enforcing the child support order. Where there is a change in income, the court may review the net resources of the parent in a hearing to modify support or accept an agreement by the parties. In an enforcement case, the court may impose penalties including contempt of court and possible jail time for failure to pay court ordered child support.

Please also review the pages on our website dedicated to a variety of family law issues.

For information about Texas divorce and family law please call Attorney Richard T. Sutherland in Wichita Falls, Texas by dialing (940) 691-2100.

Welcome to The Wichita Falls Family Law Podcast

wfflwpadm October 19, 2017February 8, 2019 Child Custody, Child Support, Divorce, Podcasts

Richard Sutherland Podcast: Welcome to The Wichita Falls Family Law Podcast

This is The Wichita Falls Family Law Podcast, a monthly Internet radio podcast program with featured host, Attorney Richard Sutherland who shares information and thoughts about Texas divorce, family law and commercial litigation.

Common Divorce and Family Law Topics:

Introducing Attorney Richard Sutherland;
Common concerns in divorce and family law cases;
Children’s issues and child support and custody information;
Richard Sutherland is also experienced in commercial litigation.

Attorney Richard T. Sutherland practices family law and commercial litigation in Wichita Falls and all over Texas. Since being licensed by the State of Texas in 1976, Richard Sutherland has been an active member and leader in many legal organizations including the State Bar of Texas. He is a frequent speaker and continuing legal education contributor. Sutherland is an alumnus of The University of Texas at Austin and the Oklahoma City University School of Law.

For information about Texas divorce and family law please call Attorney Richard T. Sutherland in Wichita Falls, Texas by dialing (940) 691-2100.