<?xml version="1.0" encoding="utf-8"?>
<feed xmlns="http://www.w3.org/2005/Atom">
 <title>Houston Divorce and Family Law Attorney Blog</title>
 <link rel="alternate" type="text/html" href="http://www.k-hpc.com/blog/" />
 <link rel="self" type="application/atom+xml" href="http://www.k-hpc.com/blog/atom.xml" />
 <id>tag:www.k-hpc.com,2009-12-03:/blog/41</id>
 <updated>2012-02-03T20:57:11Z</updated>
 <subtitle>At Kerr &amp; Hendershot, P.C., our Houston family law attorneys are committed to helping clients get through a very difficult time and limit the stresses on both the parents and the children. Our Houston Divorce and Family Law blog is a helpful resource for information about divorce, child custody and support.</subtitle>
 <generator uri="http://www.sixapart.com/movabletype/">Movable Type Enterprise 4.32-en</generator>

<entry>
 <title>Modifying Texas Child Custody / Conservatorship Orders</title>
 <link rel="alternate" type="text/html" href="http://www.k-hpc.com/blog/2012/02/modifying-texas-child-custody-conservatorship-orders.html" />
 <id>tag:www.k-hpc.com,2012:/blog//41.195411</id>
 <published>2012-02-03T20:55:00Z</published>
 <updated>2012-02-03T20:57:11Z</updated>
 <summary>Child custody / conservatorship and visitation / possession agreements are never set in stone. It is common for parents to have to return to court when life changes affect those agreements. There are many reasons for a parent to request...</summary>
 <author>
 <name>Kerr, Hendershot &amp; Cannon, P.C.</name>
 <uri>http://www.k-hpc.com/mt-bin/mt-cp.cgi?__mode=view&amp;blog_id=41&amp;id=108</uri>
 </author>
 
 <category term="Child Custody" scheme="http://www.sixapart.com/ns/types#category" />
 
 <category term="childcustody" label="Child Custody" scheme="http://www.sixapart.com/ns/types#tag" />
 <category term="divorce" label="Divorce" scheme="http://www.sixapart.com/ns/types#tag" />
 <category term="relocation" label="Relocation" scheme="http://www.sixapart.com/ns/types#tag" />
 
 <content type="html" xml:lang="en-us" xml:base="http://www.k-hpc.com/blog/">
 <![CDATA[<p>Child custody / conservatorship and visitation / possession agreements are never set in stone. It is common for parents to have to return to court when life changes affect those agreements.</p>
<p>There are many reasons for a parent to request child custody modification. This blog will discuss a few of those reasons that can affect a mother's or <a href="http://www.k-hpc.com/Family-Law-Overview/Father-s-Rights.shtml">father's rights</a>.</p>
<p><strong>Changes in child support</strong></p>
<p>One parent's inability to pay court-ordered child support can lead to a battle over conservatorship or possession and access (also known as "visitation"). The sole managing conservator (the parent with custody of the child) may deny visitation in retaliation for not receiving child support. This is against the law, and it also signifies a more significant need: if one parent can no longer pay child support, it may be possible to modify child support and, if necessary, conservatorship, and possession and access.</p>]]>
 <![CDATA[<p><strong>Relocation</strong></p>
<p>Depending on whether or not there is a geographic restriction in the original court order, a sole managing conservator may not be able to relocate with the child without approval by the court. If a parent would like to move the child outside of the geographic restriction imposed by the court order, he or she must bring a <a href="http://www.k-hpc.com/Child-Custody-and-Child-Support/Relocation-Geographic-Restrictions.shtml">request for relocation.</a> This will likely impact the other parent's possession and access rights.</p>
<p><strong>Allegations of child abuse or molestation</strong></p>
<p>If one parent is accused of abusing or molesting the child, conservatorship and visitation may be significantly affected, especially if the child lives with the accused parent. A Texas court may issue a temporary protective order to prohibit future acts of violence. If the court finds that the allegations are truthful, custody and visitation arrangements will likely change.</p>
<p>A court may only grant modification of child custody / conservatorship if:</p>
<ul>
<li>The modification is in the best interests of the child</li>
<li>Circumstances have materially changed</li>
<li>The primary managing conservatorship has given up possession of the child for at least six months</li>
<li>The environment is dangerous for the child</li>
<li>Both parties consent to the change based on the best interests of the child</li></ul>
<p>To learn more about modification of child custody / conservatorship in Texas, speak with an experienced family law attorney.</p>]]>
 </content>
</entry>

<entry>
 <title>What Is Community Property?</title>
 <link rel="alternate" type="text/html" href="http://www.k-hpc.com/blog/2012/01/what-is-community-property.html" />
 <id>tag:www.k-hpc.com,2012:/blog//41.192304</id>
 <published>2012-01-31T15:43:16Z</published>
 <updated>2012-01-31T15:46:31Z</updated>
 <summary>When dividing property during your Texas divorce, you must not only consider what each spouse wants but also Texas family laws governing property division. Texas is a &quot;community property&quot; state. In other words, the property that a husband and wife...</summary>
 <author>
 <name>Kerr, Hendershot &amp; Cannon, P.C.</name>
 <uri>http://www.k-hpc.com/mt-bin/mt-cp.cgi?__mode=view&amp;blog_id=41&amp;id=108</uri>
 </author>
 
 <category term="Property Division" scheme="http://www.sixapart.com/ns/types#category" />
 
 <category term="communityproperty" label="Community Property" scheme="http://www.sixapart.com/ns/types#tag" />
 <category term="divorce" label="Divorce" scheme="http://www.sixapart.com/ns/types#tag" />
 <category term="propertyanddebtdivision" label="Property and Debt Division" scheme="http://www.sixapart.com/ns/types#tag" />
 
 <content type="html" xml:lang="en-us" xml:base="http://www.k-hpc.com/blog/">
 <![CDATA[<p>When dividing property during your Texas divorce, you must not only consider what each spouse wants but also Texas family laws governing property division.</p>
<p>Texas is a "community property" state. In other words, the property that a husband and wife accumulate during their marriage belongs to both spouses. This includes property acquired in the name of only one spouse. During <a href="http://www.k-hpc.com/Property-and-Debt-Division/">property division</a>, each spouse has a 50 percent interest in the community property.</p>
<p>One of the first steps in dividing property during a divorce is determining which property is marital property and which property is separate property.</p>]]>
 <![CDATA[<p><strong>Separate property</strong> includes:</p>
<ul>
<li>Property owned by a spouse before marriage</li>
<li>Property that a spouse acquires during marriage through gift, devise or descent (inheritance)</li>
<li>Most personal injury settlements</li></ul>
<p><strong>Community property</strong> includes any property acquired during marriage that is not separate property.</p>
<p>Courts will presume that all of the property involved in a divorce is community property. It is up to each spouse to prove that the property is separate property through clear and convincing evidence.</p>
<p>The community property/separate property distinction is important for many reasons. For example, a court will usually divide community property 50/50 during divorce. Also, a spouse is generally not liable for debts on the other spouse's separate property, while both spouses are liable for debts on community property.</p>
<p>Some property, such as retirement benefits, contains aspects of both separate property and community property. There are specific laws that determine what portion of that property belongs to each spouse.</p>
<p>Source: Texas Family Code, Section 3.001-3.410: <a href="http://www.statutes.legis.state.tx.us/Docs/FA/htm/FA.3.htm">General Rules for Separate and Community Property</a>.</p>]]>
 </content>
</entry>

<entry>
 <title>Divorcing With a Small Business, Part Two: Options</title>
 <link rel="alternate" type="text/html" href="http://www.k-hpc.com/blog/2012/01/divorcing-with-a-small-business-part-two-options.html" />
 <id>tag:www.k-hpc.com,2012:/blog//41.185131</id>
 <published>2012-01-24T14:45:14Z</published>
 <updated>2012-01-24T14:50:23Z</updated>
 <summary>You may have spent years developing your business with your spouse, creating a successful venture. Today, the business may even be your only source of income. Now that you and your spouse are divorcing, what should you do with the...</summary>
 <author>
 <name>Kerr, Hendershot &amp; Cannon, P.C.</name>
 <uri>http://www.k-hpc.com/mt-bin/mt-cp.cgi?__mode=view&amp;blog_id=41&amp;id=108</uri>
 </author>
 
 <category term="Divorce" scheme="http://www.sixapart.com/ns/types#category" />
 
 <category term="businessdivision" label="Business Division" scheme="http://www.sixapart.com/ns/types#tag" />
 <category term="dissolution" label="Dissolution" scheme="http://www.sixapart.com/ns/types#tag" />
 <category term="divorce" label="Divorce" scheme="http://www.sixapart.com/ns/types#tag" />
 
 <content type="html" xml:lang="en-us" xml:base="http://www.k-hpc.com/blog/">
 <![CDATA[<p>You may have spent years developing your business with your spouse, creating a successful venture. Today, the business may even be your only source of income. Now that you and your spouse are divorcing, what should you do with the family business? Is it possible to keep it running or will you have to close up shop?</p>
<p>In our last post, we discussed <a href="http://www.k-hpc.com/Property-and-Debt-Division/Family-Owned-Businesses.shtml">business valuation in divorce</a>. This post will explain the options available to divorcing spouses who own a business together.</p>
<p>Just as no two divorces are alike, no two businesses and business partnerships are alike. While business dissolution is the best option for some divorcing spouses who own a business together, other spouses may seek to keep the business alive. There are many creative options available. An experienced divorce lawyer can help you understand these options based on the facts and circumstances of your divorce.</p>]]>
 <![CDATA[<p><strong>Examples of Business Options During Divorce</strong></p>
<p>Are you and your spouse able to maintain a professional relationship? Does one spouse want to buy the business from the other spouse? Would it be best to dissolve the business and split the assets? These are some of the questions you and your spouse should ask when looking for creative solutions about what to do with a family business after divorce.</p>
<p>Some solutions include:</p>
<ul>
<li><strong>Continuing the business partnership: </strong>Sometimes, the success of a business depends on both parties. For example, one spouse may be successful at sales and the other at general business operations. Together, they create a valuable, profitable business. In these circumstances, if the spouses can get along as business partners, they may be able to continue to work together, with each spouse maintaining ownership in the business. The parties could sign an employment agreement that spells out their duties and what to do in the event of a business dispute.</li>
<li><strong>Buyouts: </strong>Another option is for one spouse to buy out the other spouse's interest in the business, thereby gaining full control of the business. In business buyouts during divorce, the parties may sign a non-compete agreement that restricts the other spouse from creating a competing local business.</li>
<li><strong>Dissolution: </strong><a href="http://www.k-hpc.com/Shareholder-Oppression/Dissolution-of-Businesses.shtml">Business dissolution</a> is also a possibility. Spouses who own a business together have the right to divide that business and have the assets distributed between them. A divorce lawyer can help you compile a list of your assets and debts, pay back creditors, and distribute any remaining assets between you and your spouse. There are multiple steps (such as filing a certificate of dissolution with the state, notifying customers and cancelling business licenses) as well as property division issues that parties must consider when dividing a business.</li></ul>
<p>As you can see, there is no one-size-fits-all approach&nbsp;to dividing a family business during divorce. Many people go into divorce worried that their only option is to dissolve the business. These people have spent significant time, energy and money on the business. Dissolution is an option, but it is not the only option. Depending on the unique facts and circumstances of your case, there may be creative, viable alternatives for you and your spouse to consider.</p>]]>
 </content>
</entry>

<entry>
 <title>Divorcing With a Small Business, Part One: Business Valuation </title>
 <link rel="alternate" type="text/html" href="http://www.k-hpc.com/blog/2012/01/divorcing-with-a-small-business-part-one-business-valuation.html" />
 <id>tag:www.k-hpc.com,2012:/blog//41.182086</id>
 <published>2012-01-17T22:09:24Z</published>
 <updated>2012-01-17T22:21:37Z</updated>
 <summary>When a prenuptial / postnuptial agreement doesn&apos;t dictate what should happen to a family business in the event of a divorce, it is up to the divorcing parties - or the court - to decide what to do with the...</summary>
 <author>
 <name>Kerr, Hendershot &amp; Cannon, P.C.</name>
 <uri>http://www.k-hpc.com/mt-bin/mt-cp.cgi?__mode=view&amp;blog_id=41&amp;id=108</uri>
 </author>
 
 <category term="Divorce" scheme="http://www.sixapart.com/ns/types#category" />
 
 <category term="businessdivision" label="Business Division" scheme="http://www.sixapart.com/ns/types#tag" />
 <category term="divorce" label="Divorce" scheme="http://www.sixapart.com/ns/types#tag" />
 <category term="propertyanddebtdivision" label="Property and Debt Division" scheme="http://www.sixapart.com/ns/types#tag" />
 
 <content type="html" xml:lang="en-us" xml:base="http://www.k-hpc.com/blog/">
 <![CDATA[<p>When a prenuptial / postnuptial agreement doesn't dictate what should happen to a family business in the event of a divorce, it is up to the divorcing parties - or the court - to decide what to do with the business and its assets.</p>
<p>Closing up shop and dividing business assets/debts is one option that spouses can consider. We will discuss this option in our next blog post. But what if one spouse wants to continue to operate the business? What should the other spouse receive? How does <a href="http://www.k-hpc.com/Property-and-Debt-Division/Family-Owned-Businesses.shtml">business valuation in divorce</a> work?</p>]]>
 <![CDATA[<p>The first step is to determine if both spouses can agree on whether the business should stay intact. In some contentious divorces, businesses must be dissolved because the parties cannot reach an agreement. If the spouses can reach an initial agreement to keep the business running, then they must determine how much the business is worth.</p>
<p>Divorcing with a small business is often challenging because a business isn't like other community property. The value of a business is not just what is in the books and is rarely determined by the business value listed in the buy/sell agreement. There are tangible assets such as commercial property, furniture and bank accounts, but there are also assets whose values are less tangible, such as mortgages, labor, intellectual property and the business' reputation. Determining reasonable compensation for the spouse who will not keep the business is, thus, difficult, especially when the other spouse will continue to receive the benefits of the business after the divorce.</p>
<p>Your divorce lawyer will work with business valuation experts (such as a CPA / business appraiser) to determine all of the business' assets and debts. You may be asked to compile your books, tax returns and other financial documents. A business appraiser can also determine, based on your earnings and other information, the goodwill of the business (the ability of your business to maintain and attract customers).</p>
<p>You and your spouse may both have a business appraisal done. Most likely, the appraisals will be different and you may need to work with your divorce attorneys to agree on an appropriate business value.</p>
<p>Sometimes, business valuation leads to a property division agreement that the spouse who would like to continue to operate the business simply cannot pay. In these cases, the divorce decree should lay out how the business owner can make future payments to the other spouse, including all the specifics of that payment. Keep in mind that, unlike support orders, you will not be able to modify the amount owed.</p>
<p>Source: Forbes, "<a href="http://www.forbes.com/2006/12/12/divorce-business-value-pf-estates-in_mb_1212money_inl.html">Minding Your (Own) Business in Divorce</a>," Marlene M. Browne, Dec. 12, 2006.</p>]]>
 </content>
</entry>

<entry>
 <title>Divorce Can Be Challenging at Any Stage in Life</title>
 <link rel="alternate" type="text/html" href="http://www.k-hpc.com/blog/2012/01/divorce-can-be-challenging-at-any-stage-in-life.html" />
 <id>tag:www.k-hpc.com,2012:/blog//41.181192</id>
 <published>2012-01-13T22:17:48Z</published>
 <updated>2012-01-13T22:22:59Z</updated>
 <summary>A recent article on the Huffington Post Divorce Blog talked about how people experience divorce at different ages. The challenges that young people with children face are going to be different than those faced by couples near retirement age. Of...</summary>
 <author>
 <name>Kerr, Hendershot &amp; Cannon, P.C.</name>
 <uri>http://www.k-hpc.com/mt-bin/mt-cp.cgi?__mode=view&amp;blog_id=41&amp;id=108</uri>
 </author>
 
 <category term="Divorce" scheme="http://www.sixapart.com/ns/types#category" />
 
 <category term="divorce" label="Divorce" scheme="http://www.sixapart.com/ns/types#tag" />
 <category term="divorcefinances" label="Divorce Finances" scheme="http://www.sixapart.com/ns/types#tag" />
 
 <content type="html" xml:lang="en-us" xml:base="http://www.k-hpc.com/blog/">
 <![CDATA[<p>A recent article on the Huffington Post Divorce Blog talked about how people experience divorce at different ages. The challenges that young people with children face are going to be different than those faced by couples near retirement age. Of course, no two <a href="http://www.k-hpc.com/Divorce/">divorces</a> are alike, but there are commonalities based on age and life experience.</p>
<p>For example, let's compare three types of divorces: a divorce between a young couple after a short-term marriage; a divorce between a mid-life couple involving children; and a divorce between empty-nesters.</p>]]>
 <![CDATA[<p>Young couples divorcing after a short-term marriage tend to focus on personal property. Who owns what? Who should get to keep the t.v.? The leather sofa? In contentious divorces, property division can be difficult, with a great deal of time and money spent fighting over small pieces of property.</p>
<p>Property division becomes less important in mid-life divorces involving children. These divorces usually revolve around the children. Who will have managing conservatorship? What should visitation schedules look like? How much child support should one parent pay the other? These questions are indeed the most important in divorces with children, but they can also lead to intense arguments.</p>
<p>In empty-nest divorces, the focus is usually on division of retirement assets, health insurance and keeping peace in the relationship. These divorces are often more positive, with fewer disputes.</p>
<p>Every type of divorce has its unique challenges and every couple will experience each challenge differently. Even uncontested divorces can be full of unexpected twists. Determining how pensions can be divided through qualified domestic relations orders (QDROs) can be just as taxing as dividing up a household full of memories. Having experienced professionals on your side can help the process go more smoothly and provide balance, no matter what you are facing.</p>
<p>Source: Huffington Post, "<a href="http://www.huffingtonpost.com/abby-tolchinsky/older-and-wiser_b_1149314.html?ref=divorce">Older and Wiser</a>," Abby Tolchinsky, Jan. 4, 2012.</p>]]>
 </content>
</entry>

<entry>
 <title>Children and Divorce: What Can You Do to Make Divorce Easier on Your Children?</title>
 <link rel="alternate" type="text/html" href="http://www.k-hpc.com/blog/2012/01/children-and-divorce-what-can-you-do-to-make-divorce-easier-on-your-children.html" />
 <id>tag:www.k-hpc.com,2012:/blog//41.179372</id>
 <published>2012-01-10T22:18:10Z</published>
 <updated>2012-01-10T22:28:21Z</updated>
 <summary>It&apos;s no secret that divorce affects children. Even if your marriage was fraught with arguments, divorce means a significant change in your children&apos;s lives. They will no longer have one home, but two. Holidays will never be the same. They...</summary>
 <author>
 <name>Kerr, Hendershot &amp; Cannon, P.C.</name>
 <uri>http://www.k-hpc.com/mt-bin/mt-cp.cgi?__mode=view&amp;blog_id=41&amp;id=108</uri>
 </author>
 
 <category term="Divorce" scheme="http://www.sixapart.com/ns/types#category" />
 
 <category term="childcustody" label="Child Custody" scheme="http://www.sixapart.com/ns/types#tag" />
 <category term="childrenindivorce" label="Children in Divorce" scheme="http://www.sixapart.com/ns/types#tag" />
 <category term="divorce" label="Divorce" scheme="http://www.sixapart.com/ns/types#tag" />
 
 <content type="html" xml:lang="en-us" xml:base="http://www.k-hpc.com/blog/">
 <![CDATA[<p>It's no secret that divorce affects children. Even if your marriage was fraught with arguments, divorce means a significant change in your children's lives. They will no longer have one home, but two. Holidays will never be the same. They may wonder why their parents are making this decision and may even blame themselves.</p>
<p>That is why it is important for parents to consider their children's best interests and rights throughout and after a <a href="http://www.k-hpc.com/Divorce/">Texas divorce</a>. How can you help your children through the divorce and what can you do to make things easier on them after the divorce?</p>]]>
 <![CDATA[<p>Here are a few tips to consider:</p>
<ul>
<li><strong>Honesty: </strong>Let your children ask questions and give them honest answers about the divorce and what will happen to them.</li>
<li><strong>Taking sides: </strong>Do not pit your children against your spouse. They love both of you and should be considered "neutral" during and after the divorce. When children are asked to take sides, they become vulnerable and resentful. If your spouse criticizes you in front of your children, consider it a learning opportunity and ask your children what they think of it instead of furthering the argument.</li>
<li><strong>Arguments: </strong>While children are the subject of visitation, child custody and child support issues, it is not necessary to make them the <em>center</em> of those arguments. The less exposure they have to additional negativity during this hard time, the better. It is okay to ask your children their opinions about child custody and visitation, but keep the majority of the conversation between you and your spouse.</li>
<li><strong>Childhood: </strong>Remember that your children are children. This is not the time to involve them in discussions about financial problems or other adult issues. Your children are not responsible for your well-being.</li>
<li><strong>Transitions: </strong>Transitions are difficult, but it is possible to make them less stressful for your children. For example, it can be helpful to have a routine for where and when to pick up and drop off the children. Similarly, it is good to agree not to talk to the other parent about child support during those pick ups/drop offs.</li>
<li><strong>Celebrations: </strong>Remember that important events in your children's lives are things that your spouse will also want to celebrate, such as school plays, and that <br />cooperating with your spouse is important.</li></ul>
<p>Your children matter to you and you want what's best for them. So do the courts. They will consider your children's best interests for child support, child custody and visitation.</p>
<p>Source: Huffington Post, "<a href="http://www.huffingtonpost.com/julie-a-ross-ma/a-divorced-childs-bill-of_b_1184270.html?ref=divorce">A Divorced Child's Bill of Rights</a>," Julie A. Ross, Judy Corcoran, Jan. 6, 2012.</p>]]>
 </content>
</entry>

<entry>
 <title>Is Your Spouse Hiding Assets in Your Divorce?</title>
 <link rel="alternate" type="text/html" href="http://www.k-hpc.com/blog/2012/01/is-your-spouse-hiding-assets-in-your-divorce.html" />
 <id>tag:www.k-hpc.com,2012:/blog//41.177619</id>
 <published>2012-01-06T18:40:41Z</published>
 <updated>2012-01-06T18:47:33Z</updated>
 <summary>In a 2007 study published in Forbes.com, 56 percent of women and 36 percent of men whose wealth was at least $1 million said that they had hidden or protected assets. Those that made over $10 million were the most...</summary>
 <author>
 <name>Kerr, Hendershot &amp; Cannon, P.C.</name>
 <uri>http://www.k-hpc.com/mt-bin/mt-cp.cgi?__mode=view&amp;blog_id=41&amp;id=108</uri>
 </author>
 
 <category term="Divorce" scheme="http://www.sixapart.com/ns/types#category" />
 
 <category term="divorce" label="Divorce" scheme="http://www.sixapart.com/ns/types#tag" />
 <category term="highassetdivorce" label="High-Asset Divorce" scheme="http://www.sixapart.com/ns/types#tag" />
 <category term="propertyanddebtdivision" label="Property and Debt Division" scheme="http://www.sixapart.com/ns/types#tag" />
 
 <content type="html" xml:lang="en-us" xml:base="http://www.k-hpc.com/blog/">
 <![CDATA[<p>In a 2007 study published in Forbes.com, 56 percent of women and 36 percent of men whose wealth was at least $1 million said that they had hidden or protected assets. Those that made over $10 million were the most likely to have hidden assets.</p>
<p>Many people admitted to using wealth preservation strategies, where they hid assets from creditors and spouses through offshore accounts and asset protection trusts. Others use other trusts, holdings, charitable foundations, family-limited partnerships, and equity reduction plans (ERPs). Still others may hide assets through their business partners or family members and in expensive artwork or office furniture. They may even collude with their employer/business partners to delay bonuses/raises until after the divorce.</p>
<p>How can you uncover hidden assets during a <a href="http://www.k-hpc.com/Divorce/">Houston divorce</a>?</p>]]>
 <![CDATA[<p>First, hire a divorce lawyer who is experienced in high-asset divorce and uncovering hidden assets. You and your attorney may need to work with asset searchers around the world and gain access to your spouse's electronic data. Often, evidence of the hidden assets can be found on computers, PDAs, smart phones and other electronic devices.</p>
<p>Second, make copies of all of the financial documents available to you. Try to find and copy bank account statements, pay stubs, tax returns and similar documents. Give these to your attorney, who will use them to help uncover the hidden assets and present your financial situation to the court.</p>
<p>Remember: your spouse is required, by law, to fully disclose all financial resources. Failure to do so can put your spouse in a difficult bargaining position during the divorce as well as set your spouse up for legal ramifications. In other words, it doesn't pay to hide assets.</p>
<p>Source: Forbes.com, "<a href="http://www.forbes.com/2007/11/01/divorce-assets-hiding-pf-estates-in_mb_1101money_inl.html">Uncovering Hidden Assets</a>," Marlene M. Browne, Nov. 1, 2007.</p>]]>
 </content>
</entry>

<entry>
 <title>Two Things Certain in Life: Divorce and Taxes?</title>
 <link rel="alternate" type="text/html" href="http://www.k-hpc.com/blog/2012/01/two-things-certain-in-life-divorce-and-taxes.html" />
 <id>tag:www.k-hpc.com,2012:/blog//41.176345</id>
 <published>2012-01-04T19:11:43Z</published>
 <updated>2012-01-04T19:25:24Z</updated>
 <summary>Whether you are considering filing for divorce, in the midst of a divorce, or newly single, it is time to start thinking about how your Texas divorce will affect taxes. The following are some of the important factors to consider...</summary>
 <author>
 <name>Kerr, Hendershot &amp; Cannon, P.C.</name>
 <uri>http://www.k-hpc.com/mt-bin/mt-cp.cgi?__mode=view&amp;blog_id=41&amp;id=108</uri>
 </author>
 
 <category term="Divorce" scheme="http://www.sixapart.com/ns/types#category" />
 
 <category term="alimony" label="Alimony" scheme="http://www.sixapart.com/ns/types#tag" />
 <category term="divorce" label="Divorce" scheme="http://www.sixapart.com/ns/types#tag" />
 <category term="divorcefinances" label="Divorce Finances" scheme="http://www.sixapart.com/ns/types#tag" />
 
 <content type="html" xml:lang="en-us" xml:base="http://www.k-hpc.com/blog/">
 <![CDATA[<p>Whether you are considering filing for divorce, in the midst of a divorce, or newly single, it is time to start thinking about how your <a href="/Divorce/">Texas divorce</a> will affect taxes. The following are some of the important factors to consider when filing taxes in 2012:</p>
<p><strong>Tax filing status: </strong>Your filing status for the entire year is based on your marital status on December 31, 2011. For example, if you were divorced on December 30, 2011, you will be considered "single" (or, depending on your situation, "head of household") for 2011 tax purposes. You may not file a joint return.</p>
<p>If your divorce decree was not issued until January 1, 2012, then you will be considered "married" for tax purposes. You can choose to file as "married filing jointly" or "married filing separately."</p>]]>
 <![CDATA[<p><strong>Your home: </strong>Many divorcing couples decide to sell their homes. If you sold your home in 2011, you and your spouse may have to worry about capital gains. If you are filing a joint tax return and owned your home for at least two of the past five years, you can exclude $500,000 of your home's value. If you are divorced and filing separately, you and your spouse may exclude $250,000 each (if your home was your primary residence for at least two years).</p>
<p><strong>Alimony / spousal maintenance: </strong>If one of the spouses paid alimony in cash in 2011, he or she can take a tax deduction for those payments. You and your ex-spouse must report exactly the same amount of alimony / spousal maintenance on your federal tax returns. Alimony is considered income, which means that the spouse receiving alimony needs to pay taxes on that amount.</p>
<p><strong>Dependent exemption: </strong>If&nbsp;a couple was&nbsp;divorced on or before December 31, 2011, only one of the ex-spouses may claim a child as a dependent. This can be difficult, especially if the divorce was later in the year. The parent who should claim&nbsp;the child as a dependent is usually the "custodial parent," or the parent with whom the child has lived the longest.&nbsp;Hopefully, you&nbsp;discussed this topic during divorce, especially since it also impacts the Lifetime Learning and American Opportunity credits (only the spouse who claims the child as a dependent can receive one of these credits).</p>
<p>Having a team of experts on your side during and after your divorce can help you make sure that all of your bases are covered, including the financial and tax implications of your divorce.</p>
<p>Source: Huff Post Divorce, "<a href="http://www.huffingtonpost.com/gabrielle-clemens/breaking-up-and-5-money-q_b_1151517.html">5 Money Questions to Ask Before the Year and Your Marriage Come to a Close</a>," Gabrielle Clemens, Dec. 27, 2011.</p>]]>
 </content>
</entry>

<entry>
 <title>Adopting Your Grandchildren in Texas</title>
 <link rel="alternate" type="text/html" href="http://www.k-hpc.com/blog/2011/12/adopting-your-grandchildren-in-texas.html" />
 <id>tag:www.k-hpc.com,2011:/blog//41.174987</id>
 <published>2011-12-30T19:30:49Z</published>
 <updated>2011-12-30T19:36:35Z</updated>
 <summary>Perhaps you have taken care of your grandchildren for years and you would like to make the relationship official. Or circumstances have changed and your grandchildren need someone else to take care of them. Whatever the case, you are ready...</summary>
 <author>
 <name>Kerr, Hendershot &amp; Cannon, P.C.</name>
 <uri>http://www.k-hpc.com/mt-bin/mt-cp.cgi?__mode=view&amp;blog_id=41&amp;id=108</uri>
 </author>
 
 <category term="Adoption" scheme="http://www.sixapart.com/ns/types#category" />
 
 <category term="adoption" label="Adoption" scheme="http://www.sixapart.com/ns/types#tag" />
 <category term="childcustody" label="Child Custody" scheme="http://www.sixapart.com/ns/types#tag" />
 <category term="grandparentadoption" label="Grandparent Adoption" scheme="http://www.sixapart.com/ns/types#tag" />
 
 <content type="html" xml:lang="en-us" xml:base="http://www.k-hpc.com/blog/">
 <![CDATA[<p>Perhaps you have taken care of your grandchildren for years and you would like to make the relationship official. Or circumstances have changed and your grandchildren need someone else to take care of them. Whatever the case, you are ready to start the adoption process. What steps do you need to take? How can you get approval to adopt the kids you love so much?</p>
<p>As <a href="http://www.livestrong.com/article/236033-grandparent-child-adoption-rights-in-texas/">Houston adoption lawyers</a>, we are privileged to experience the moments when grandparent adoptions are completed. We also understand the complex nature of these adoptions and the legal issues that can prevent Texas grandparent adoptions.</p>]]>
 <![CDATA[<p>In order to adopt your grandchildren, you must show the court that you have been the children's primary caregiver for an extended period of time and that the children's biological parents do not have the capacity to provide parental care.</p>
<p>To begin the adoption process, file a Petition for Adoption. If the children's parents are still living, you must also file a petition to terminate the parent-child relationship. In a hearing, you will need to show that it is in the children's best interests for you to be appointed possessory conservator. You will also need to provide references and go through the home study process to show that your home is appropriate for your grandchildren.</p>
<p><strong>Obtaining custody of your grandchildren</strong></p>
<p>Grandparents can also request custody of their grandchildren in certain circumstances. In order to receive child custody, grandparents must show that the children have lived with them for at least six months; one of the parent's parental rights have been terminated; the parents are deceased, incarcerated, incompetent; or the children have been abused. Grandparents have the burden to prove that granting custody to the grandparents is in the children's best interests.</p>
<p>Obtaining custody or adopting your grandchildren may be an uphill battle, but it is a battle worth fighting.</p>]]>
 </content>
</entry>

<entry>
 <title>Texas Alimony Law: What Factors Will the Court Consider?</title>
 <link rel="alternate" type="text/html" href="http://www.k-hpc.com/blog/2011/12/texas-alimony-law-what-factors-will-the-court-consider.html" />
 <id>tag:www.k-hpc.com,2011:/blog//41.173566</id>
 <published>2011-12-27T22:04:33Z</published>
 <updated>2011-12-27T22:10:38Z</updated>
 <summary>Texas alimony, also known as &quot;maintenance,&quot; can be an important and contentious part of a high-asset divorce, especially when one spouse is the so-called &quot;bread winner&quot; and the other spouse has significantly contributed to the home and child rearing. While...</summary>
 <author>
 <name>Kerr, Hendershot &amp; Cannon, P.C.</name>
 <uri>http://www.k-hpc.com/mt-bin/mt-cp.cgi?__mode=view&amp;blog_id=41&amp;id=108</uri>
 </author>
 
 <category term="Spousal Maintenance" scheme="http://www.sixapart.com/ns/types#category" />
 
 <category term="alimony" label="Alimony" scheme="http://www.sixapart.com/ns/types#tag" />
 <category term="divorce" label="Divorce" scheme="http://www.sixapart.com/ns/types#tag" />
 <category term="spousalmaintenance" label="Spousal Maintenance" scheme="http://www.sixapart.com/ns/types#tag" />
 
 <content type="html" xml:lang="en-us" xml:base="http://www.k-hpc.com/blog/">
 <![CDATA[<p>Texas alimony, also known as "maintenance," can be an important and contentious part of a high-asset divorce, especially when one spouse is the so-called "bread winner" and the other spouse has significantly contributed to the home and child rearing.</p>
<p>While parties can contractually agree on Texas alimony, courts have the final say. Therefore, it can be helpful to understand the factors that courts will consider when determining spousal maintenance. Below is a list of some of the relevant factors courts can use. If you are going through a divorce, discuss these factors with a <a href="http://www.k-hpc.com/Family-Law-Overview/Alimony-Spousal-Maintenance.shtml">Houston alimony lawyer</a> to help determine whether you or your spouse may be eligible for alimony.</p>]]>
 <![CDATA[<p><strong>When Can a Court Order Texas Spousal Maintenance?</strong></p>
<p>Under Texas alimony law, a court may order spousal maintenance if:</p>
<ul>
<li>The marriage lasted for at least ten years, the supported spouse does not have enough property to provide for his or her "minimum reasonable needs," and the supported spouse is unable to support himself or herself due to physical disability, mental disability, care for a child with a disability or lack of sufficient job skills to earn income</li>
<li>The supporting spouse is convicted of an act of family violence during the lawsuit, or the supporting spouse was convicted of family violence during the marriage and within two years prior to the divorce filing</li></ul>
<p><strong>Texas Alimony Factors</strong></p>
<p>The court can consider "all relevant factors" when awarding maintenance. This means that Texas courts have discretion when deciding when a spouse is eligible for alimony and for how long. Relevant factors under Family Code, Section 8.052 include:</p>
<ul>
<li>The length of the marriage</li>
<li>Each spouse's financial resources</li>
<li>The education and employment skills of both spouses and the time that would be required for the supported spouse to acquire sufficient education to support himself or herself</li>
<li>The suppoting spouse's financial ability</li>
<li>Acts by either spouse that result in the destruction of shared property</li>
<li>Marital misconduct of the spouse seeking alimony</li>
<li>The supported spouse's contribution to the earning power of the supporting spouse</li>
<li>The supported spouse's contribution as a homemaker</li></ul>
<p>How long a spouse can receive the alimony payments depends on the number of years of marriage. For example, a court can award up to five years of spousal maintenance for a marriage lasting 10 years or up to 10 years if the marriage lasted more than 30 years.</p>
<p>Source: Texas Family Code, Title 1, Subtitle C, Chapter 8, "<a href="http://www.statutes.legis.state.tx.us/Docs/FA/htm/FA.8.htm">Maintenance</a>."</p>]]>
 </content>
</entry>

<entry>
 <title>2011 Saw the Highest Military Divorce Rate in a Decade</title>
 <link rel="alternate" type="text/html" href="http://www.k-hpc.com/blog/2011/12/2011-saw-the-highest-military-divorce-rate-in-a-decade.html" />
 <id>tag:www.k-hpc.com,2011:/blog//41.171210</id>
 <published>2011-12-20T22:42:25Z</published>
 <updated>2011-12-20T22:46:14Z</updated>
 <summary><![CDATA[According to an article in USA Today, the 2011&nbsp;military divorce rate - at 3.7 percent - is at the highest it has been this decade, higher than any other year since 1999. In fact, the military divorce rate was higher...]]></summary>
 <author>
 <name>Kerr, Hendershot &amp; Cannon, P.C.</name>
 <uri>http://www.k-hpc.com/mt-bin/mt-cp.cgi?__mode=view&amp;blog_id=41&amp;id=108</uri>
 </author>
 
 <category term="Divorce" scheme="http://www.sixapart.com/ns/types#category" />
 
 <category term="divorce" label="Divorce" scheme="http://www.sixapart.com/ns/types#tag" />
 <category term="militarydivorce" label="Military Divorce" scheme="http://www.sixapart.com/ns/types#tag" />
 
 <content type="html" xml:lang="en-us" xml:base="http://www.k-hpc.com/blog/">
 <![CDATA[<p>According to an article in USA Today, the 2011&nbsp;military divorce rate - at 3.7 percent - is at the highest it has been this decade, higher than any other year since 1999.</p>
<p>In fact, the <a href="http://www.k-hpc.com/Divorce/Military-Divorce.shtml">military divorce</a> rate was higher than the civilian divorce rate for 2011, which was 3.5 percent. Of the military branches, the Air Force saw the highest divorce rate, at 3.9 percent. And divorce hit enlisted women especially hard - almost one-tenth of marriages involving enlisted women ended in 2011.</p>]]>
 <![CDATA[<p>According to military officials and researchers, years of repeated deployment cause strain on marriages. Additionally, with the end of the wars in Afghanistan and Iraq, more families are back together, many of which were simply not used to being together. The increased divorce rate could also reflect on the increased number of women in the military and the fact that military women are divorcing at twice the rate of men in the military. Historically, the military divorce rate for men has been less than the civilian divorce rate.</p>
<p>The pressures that military families face are unique, and so is the divorce itself. For example, military service members may lose custody and parenting opportunities due to field training exercises and deployment. Non-custodial parents who are members of the military may need special custody and visitation agreements. Furthermore, dividing military retirement benefits is different than dividing other retirement benefits.</p>
<p>That is why it is important for people going through a military divorce to speak with a military divorce attorney who understands the additional pressures on the family as well as the unique challenges involved with military divorce.</p>
<p><strong>Source:</strong> USA Today, "<a href="http://www.usatoday.com/news/military/story/2011-12-13/military-divorce-rate-increases/51888872/1" target="_blank">Military Divorce Rate at Highest Level Since 1999</a>," Gregg Zoroya, Dec. 14, 2011</p>]]>
 </content>
</entry>

<entry>
 <title>Father&apos;s Rights in Texas Child Custody Disputes</title>
 <link rel="alternate" type="text/html" href="http://www.k-hpc.com/blog/2011/12/fathers-rights-in-texas-child-custody-disputes.html" />
 <id>tag:www.k-hpc.com,2011:/blog//41.169680</id>
 <published>2011-12-16T20:41:19Z</published>
 <updated>2011-12-16T20:45:29Z</updated>
 <summary>Fathers&apos; rights remains a touchy subject in the courtroom. While more women are working and more men are staying at home with their kids, society hasn&apos;t fully accepted the idea of the male caregiver. If you are a father and...</summary>
 <author>
 <name>Kerr, Hendershot &amp; Cannon, P.C.</name>
 <uri>http://www.k-hpc.com/mt-bin/mt-cp.cgi?__mode=view&amp;blog_id=41&amp;id=108</uri>
 </author>
 
 <category term="Father&apos;s Rights" scheme="http://www.sixapart.com/ns/types#category" />
 
 <category term="childcustody" label="Child Custody" scheme="http://www.sixapart.com/ns/types#tag" />
 <category term="divorce" label="Divorce" scheme="http://www.sixapart.com/ns/types#tag" />
 <category term="fathersrights" label="Father&apos;s Rights" scheme="http://www.sixapart.com/ns/types#tag" />
 
 <content type="html" xml:lang="en-us" xml:base="http://www.k-hpc.com/blog/">
 <![CDATA[<p>Fathers' rights remains a touchy subject in the courtroom. While more women are working and more men are staying at home with their kids, society hasn't fully accepted the idea of the male caregiver. If you are a father and would like custody / sole managing conservatorship (SMC)&nbsp;of your children as well as child support, know that the court is required to listen to your side of the story.</p>
<p>Texas law strongly encourages courts to appoint both parents as joint managing conservators (JMC); however, judges in <a href="http://www.k-hpc.com/Child-Custody-and-Child-Support/">Texas child custody</a> cases look at a variety of factors when determining who should receive custody/conservatorship of a child, including:</p>
<ul>
<li>The age of the child</li>
<li>The child's preference, if the child is at least 12 years old</li>
<li>The ability of the parents to work together to make decisions for the child</li>
<li>The age, health and character of the parents</li>
<li>The relationship between the child and the parents and the history of the parents' involvement with the child</li>
<li>The ability of the parents to provide for the child</li>
<li>Any evidence of child abuse</li>
<li>Any other relevant factors</li></ul>]]>
 <![CDATA[<p>Most importantly, courts will ask: what is in the best interests of the child? As you can see, none of these factors favor the mother over the father. In fact, in 1973, the Texas Equal Rights Amendment went into effect, which states that the court must consider "the qualifications of the respective parents without regard to the sex of the parent."</p>
<p>Today, men who ask for sole custody / sole managing conservatorship during their U.S. divorce receive it at least 50 percent of the time. This is a dramatic change from fifty years ago, where men had little chance of obtaining sole custody. Yet, the stigma against custodial fathers continues, and divorced fathers continue to struggle with gender bias. Hopefully, the bias will lessen as our culture continues to change and fathers take an increasingly active role in their children's lives.</p>
<p>Source: Huff Post Divorce, "<a href="http://www.huffingtonpost.com/vicki-larson/post_2708_b_1125346.html">Fathers: Equal in Marriage but Not in Divorce?</a>" Vicki Larson, Dec. 14, 2011.</p>]]>
 </content>
</entry>

<entry>
 <title>Preparing for your 2012 Texas divorce</title>
 <link rel="alternate" type="text/html" href="http://www.k-hpc.com/blog/2011/12/preparing-for-your-2012-texas-divorce.html" />
 <id>tag:www.k-hpc.com,2011:/blog//41.166132</id>
 <published>2011-12-13T17:21:33Z</published>
 <updated>2011-12-13T17:25:59Z</updated>
 <summary>It is not surprising that more divorces are filed in January than in any other month. Many people wait until after the stressful and family-centered holiday season to file for divorce. Others simply see the new year as a time...</summary>
 <author>
 <name>Kerr, Hendershot &amp; Cannon, P.C.</name>
 <uri>http://www.k-hpc.com/mt-bin/mt-cp.cgi?__mode=view&amp;blog_id=41&amp;id=108</uri>
 </author>
 
 <category term="Divorce" scheme="http://www.sixapart.com/ns/types#category" />
 
 <category term="divorce" label="Divorce" scheme="http://www.sixapart.com/ns/types#tag" />
 <category term="divorcefinances" label="Divorce Finances" scheme="http://www.sixapart.com/ns/types#tag" />
 
 <content type="html" xml:lang="en-us" xml:base="http://www.k-hpc.com/blog/">
 <![CDATA[<p>It is not surprising that more divorces are filed in January than in any other month. Many people wait until after the stressful and family-centered holiday season to file for divorce. Others simply see the new year as a time to start anew. No matter what your reason, if you are considering filing for a <a href="http://www.k-hpc.com/Divorce/">Houston divorce</a> in January, now is the time to start planning.</p>
<p>There are steps you can take today to make the divorce process easier, many of which are financial in nature.</p>]]>
 <![CDATA[<p>These include:</p>
<ul>
<li><strong>Gathering financial documents:</strong> Start collecting bank statements, credit card statements, mortgage documents and other important financial documents. Make copies of these statements and keep them in a safe place.</li>
<li><strong>Evaluating assets and debts:</strong> Make a list of your assets and debts, including the property you and your spouse own together or separately, your income and your spouse's income, your credit card debt, mortgage, car loans, and other finances.</li>
<li><strong>Watching your credit:</strong> Pay attention to your credit card statements and your credit report. It is important to keep an eye on credit numbers now and during your divorce.</li>
<li><strong>Opening new bank accounts: </strong>Open checking and savings accounts in your name, at a different bank than where you have your joint accounts. Now is also the time to apply for your own credit card.</li>
<li><strong>Thinking about your children:</strong> Where will they live? How will visitation work? Determining Texas child custody and child support can be very difficult, especially if you and your spouse disagree. Think hard about what would be in your children's best interests.</li>
<li><strong>Hiring a Texas divorce lawyer:</strong> A family law attorney will be an advocate for your interests as well as a clear head during an emotional time. Hiring an attorney early in the process can ensure that your rights are protected during divorce proceedings.</li></ul>
<p>Whether you will be going through a high asset divorce or a divorce involving moderate means, start thinking about your finances now to protect your financial future.</p>
<p>Source: Forbes, "<a href="http://www.forbes.com/sites/jefflanders/2011/12/06/end-of-the-year-checklist-for-divorcing-women/">End-of-the-Year Checklist for Divorcing Women</a>," Jeff Landers, Dec. 6, 2011.</p>]]>
 </content>
</entry>

<entry>
 <title>People in Texas More Likely to Marry...and then Remarry when it Doesn&apos;t Work Out</title>
 <link rel="alternate" type="text/html" href="http://www.k-hpc.com/blog/2011/09/people-in-texas-more-likely-to-marryand-then-remarry-when-it-doesnt-work-out.html" />
 <id>tag:www.k-hpc.com,2011:/blog//41.126226</id>
 <published>2011-09-13T20:21:11Z</published>
 <updated>2011-09-13T20:23:24Z</updated>
 <summary>According to recent census data, people in Texas, and throughout the South, are more likely to get married, subsequently divorced and then remarried. Nationwide, the average age of a first marriage has risen dramatically the past few decades - from...</summary>
 <author>
 <name>Kerr, Hendershot &amp; Cannon, P.C.</name>
 <uri>http://www.k-hpc.com/mt-bin/mt-cp.cgi?__mode=view&amp;blog_id=41&amp;id=108</uri>
 </author>
 
 <category term="Divorce" scheme="http://www.sixapart.com/ns/types#category" />
 
 <category term="divorce" label="Divorce" scheme="http://www.sixapart.com/ns/types#tag" />
 <category term="texas" label="Texas" scheme="http://www.sixapart.com/ns/types#tag" />
 
 <content type="html" xml:lang="en-us" xml:base="http://www.k-hpc.com/blog/">
 <![CDATA[<p>According to recent census data, people in Texas, and throughout the South, are more likely to get married, subsequently <a href="http://www.k-hpc.com/Divorce/">divorced</a> and then remarried.</p>
<p>Nationwide, the average age of a first marriage has risen dramatically the past few decades - from 22.5 for men and 20.6 for women in 1970, to 28.4 and 26.5 respectively in 2009. However, people in the Northeast are waiting even longer to get married, and are less likely to get remarried after a divorce. Conversely, those in the South tend to get married at a much younger age and will remarry more quickly following a divorce. Ultimately, these higher marriage rates are closely linked to higher divorce rates.</p>]]>
 <![CDATA[<p>Diana Elliot, a demographer for the U.S. Census Bureau, told the Houston Chronicle that she believes these "regional marriage cultures" are important to understanding marital trends. Based on these cultures, Elliot observed that the increased chance of remarriage explains the longer duration of second marriages in the South when compared to the rest of the country.</p>
<p>Illustrating the importance of regional cultures, Mark Regnerus, a sociologist at the University of Texas, told the Houston Chronicle, "You have a culture that is very pro-marriage. Country music is popular. The story line in country music is the quest for love, and if it doesn't work out the first time, you go back to the trough."</p>
<p>Generally, people in Texas are much more willing to give it a second try when their first marriage doesn't work out. However, that doesn't alter the fact that the first marriage ended in a divorce. If you are currently going through a divorce, contact an experienced divorce attorney in your area for guidance.</p>
<p>Source: <a href="http://www.chron.com/news/houston-texas/article/Marriage-and-divorce-Texas-style-2139935.php">Marriage and Divorce, Texas-style</a></p>]]>
 </content>
</entry>

<entry>
 <title>Protecting your Credit During Divorce</title>
 <link rel="alternate" type="text/html" href="http://www.k-hpc.com/blog/2011/08/protecting-your-credit-during-divorce.html" />
 <id>tag:www.k-hpc.com,2011:/blog//41.121236</id>
 <published>2011-08-25T14:25:26Z</published>
 <updated>2011-08-25T14:28:41Z</updated>
 <summary>Given the emotional nature of divorce, splitting spouses often do irrational and unpredictable things. For example, in an attempt to &quot;punish&quot; the other spouse, one spouse may purposely fail to pay bills they originally agreed to pay. This act can...</summary>
 <author>
 <name>Kerr, Hendershot &amp; Cannon, P.C.</name>
 <uri>http://www.k-hpc.com/mt-bin/mt-cp.cgi?__mode=view&amp;blog_id=41&amp;id=108</uri>
 </author>
 
 <category term="Divorce" scheme="http://www.sixapart.com/ns/types#category" />
 
 <category term="Family Law" scheme="http://www.sixapart.com/ns/types#category" />
 
 <category term="divorce" label="Divorce" scheme="http://www.sixapart.com/ns/types#tag" />
 <category term="texas" label="Texas" scheme="http://www.sixapart.com/ns/types#tag" />
 
 <content type="html" xml:lang="en-us" xml:base="http://www.k-hpc.com/blog/">
 <![CDATA[<p>Given the emotional nature of divorce, splitting spouses often do irrational and unpredictable things. For example, in an attempt to "punish" the other spouse, one spouse may purposely fail to pay bills they originally agreed to pay. This act can devastate the credit of the unsuspecting spouse, and may ruin their ability to obtain loans, mortgages or even credit cards.</p>
<p>At a time when credit is needed the most to establish a new life, it is suddenly in shambles, which only illustrates the need to monitor and protect your credit during a <a href="http://www.k-hpc.com/Divorce/">divorce</a>.</p>]]>
 <![CDATA[<h3>Establish a Budget</h3>
<p>One of the first credit related tasks to complete for a person getting a divorce is to create a budget. Many times, a divorced spouse is changing from a dual-income household to a single-income household.</p>
<p>There is simply less money available, and a recently divorced individual must prioritize his or her expenses. Housing costs, such as mortgage or rent and utilities, should generally be the top priority. Then look to other obligations such as credit cards, loans and car payments. Consider dropping some luxuries, such as cable or cellphone plans, if you find yourself nearing your expense limit.</p>
<h3>Monitor Joint Accounts</h3>
<p>Texas is a community property state, which means any <a href="http://www.k-hpc.com/Property-and-Debt-Division/">debts acquired during the marriage</a> are jointly owned, and thus both spouses share the obligation of paying off that debt. However, for some marriages, after decades of marriage, it is easy to forget about all the accounts you may have shared, such as store credit cards. It is always a good idea to order a credit report to determine all accounts shared with your spouse.</p>
<p>It is generally best to pay off joint accounts and close before divorcing. However, sometimes that is just not possible, such as high balances on credit cards or mortgages. If paying off joint accounts is not possible, delineate in the divorce agreement which spouse will pay what obligations. For example, the spouse keeping the car will make the auto payments, and the spouse keeping the home will make the mortgage payments.</p>
<p>However, keep in mind that agreements between divorcing spouses may mean very little to lenders and credit card companies, and if one spouse begins to miss payments, the lenders may attempt to come after the other spouse. Thus, it is a good idea to monitor accounts to make sure payments are being made.</p>
<p>Divorces can be emotionally draining, and having an ex spouse sullying your credit can only add more distress. If you need assistance during this trying time, contact an experienced divorce attorney in area to be advised of your rights and options.</p>
<p>Source: <a href="http://www.foxbusiness.com/personal-finance/2011/08/10/how-to-protect-your-credit-during-divorce/">How to Protect Your Credit During Divorce</a></p>]]>
 </content>
</entry>

</feed>
