Do you know how much money you have in your wallet? What about your bank account?
Whether you have your own biological children already or if you are yet to start a family, adopting can be a rewarding and life-changing experience. If you are currently thinking about your future and you are thinking about adopting a child in Texas, you should first take the time to understand the laws in place in the state.
Divorce comes to many marriages in time. You may have felt happy and content on your wedding day, but a lot can change in the years to come. You may appear successful and happy from the outside, making a great living and enjoying life, but your personal relationship may not reflect that.
Before your spouse asks for a divorce, you get a significant inheritance from your parents. You're looking at seven figures. It's enough money that you could retire immediately.
Relationships never end in an instant. They usually go through a process of decline, along with ups and downs, for many months or years. Much of the time, one person in the relationship is holding on to what they want the relationship to be, all while losing sight of the possibility of achieving this.
Different states have different rules for how property is divided in a divorce. States either recognize community property law, or they follow the legal theory of equitable distribution. Texas recognizes community property law.
All divorces are unique. This is because divorce is defined by the dynamic between the divorcing spouses, but also factors such as whether there are children involved and net worth. If you have a high amount of assets in your marriage, the divorce is likely to be more complex than average.
It's often said that the more you have, the more you have to lose. When it comes to high-asset divorces, this is, unfortunately, true, and it is why high-asset divorcing spouses must be especially proactive when navigating the entire process.
If you are going through a divorce or have recently become divorced, you may be in the process of negotiating, or you may already be subject to alimony payments. Alimony, otherwise known as spousal support, tends to be awarded to the divorcing spouse who earns a lower income. This is done to try and ensure that neither spouse has to lower their standard of living due to divorce.
When you think about high-value assets, you likely think of real estate, investments and perhaps even cash that you have on hand. You want to divide your financial assets up properly, which mean selling physical assets -- the house -- to split up the value.