What if you should have gotten a Premarital Agreement but didn’t do it prior to marriage? Don’t despair, there are specific legal documents which can be drafted and executed that will divide a married couple’s assets and debts into “his” and “hers”. These legal agreements may be called “Postmarital Agreements”, “Postnuptial Agreements”, “Partitioning Agreements”, or … [Read more...] about Separating Your Marital Debts and Assets by an Agreement With Your Spouse
Premarital agreements are also called Prenuptial Agreements, or “Prenups”. Most couples who decide on a premarital agreement do so for one or more of the following reasons; a) there is a disparity in their assets; b) there is a disparity in the amount of debts owed; c) they want to preserve all or a portion of the premarital assets for their already existing children; and/or d) to meet … [Read more...] about Do YOU Need a Premarital Agreement?
Under Texas law, a divorce has to be on file for at least sixty days before it can be signed by a judge. Even though a decree can be signed on the 61st day, that doesn’t mean that it will be signed on the 61st day, although it is a possiblity if the divorce is an uncomplicated and agreed one. The specific legal requirements that need to be satisfied in a divorce take time. Everyone … [Read more...] about The 60 Waiting Period for Divorce in Texas (yes, that includes uncontested divorce)
Although many states do not require a divorced person to wait before remarrying, the State of Texas does. There is a thirty day waiting period. During this time, either party to the divorce can appeal the divorce decree and the divorce will be “reopened”. In addition, if one of the parties decides not to wait the entire thirty day period and remarries too early, the new marriage is … [Read more...] about Remarrying After Divorce: The 30 day Waiting Period in Texas
If a creditor wants to sue, they must do so within the time periods allowed by law. This time period varies from state to state. However, even if this time period has run, a consumer may “reactivate” the debt by taking certain actions. (Such as promising to pay, corresponding about it, making a small payment, or sometimes even discussing it with a creditor.) Beware of speaking to … [Read more...] about What Everyone Should Know About Paying “Old Debts”
Divorce is difficult and emotionally taxing, even when the economy is stable. Added to the already overwhelming financial stress that some families are already experiencing, it can seem like an insurmountable burden. Divorce and business downsizing have a lot in common. In both processes the principals involved must analyze their assets and debts, strengths and weaknesses. In both … [Read more...] about Divorce and Downsizing in Difficult Economic Times
An uncontested divorce is one in which both parties are in agreement about what is going to happen, and they cooperate in the process. Therefore, it is less expensive than a contested one and is completed more quickly. In an uncontested divorce, the parties are in agreement about the issues (division of assets/debts and custody/support/visitation of children). Since they are in … [Read more...] about Will Your Divorce be Uncontested?