eNewsletter for John K. Grubb & Associates
Overview
Texas is a community property state. This means that all assets and liabilities earned during the marriage start out as a 50-50 split when the parties get divorced. There are rules and circumstances wherein the division of assets becomes “equitable distribution” instead of equal distribution:
• Pre-marital property
• Property owned or claimed by one spouse prior to the marriage
• Property acquired by one spouse during the marriage by gift, devise or descent
• The recovery for personal injuries sustained by one spouse during the marriage, with the exception of any recovery for loss of earning capacity during the marriage
• Court’s discretion
• If one spouse makes a considerable amount more than the other spouse
• Alimony awards
• Fault
These...
While parents are fighting over child custody, they often forget the impact this has on their child. 8-year-old Victoria Peters was one such child caught in the middle of a fierce and harmful battle between her parents. Her mother, who had custody of Victoria, spent years trying to turn Victoria against her father. Her mother would come up with last minute excuses to cancel scheduled visits between Victoria and her father. She would make Victoria go in the closet when talking to him on the phone.
Victoria’s father eventually subpoenaed notes from the therapist that the girl had been attending with her mother since she was 3-years-old. The notes detailed how her mother told her of a mean side of her father that Victoria had never seen before. Victoria agreed that she had never seen that mean side but believed her mother.
Eventually the court granted full custody to Victoria’s father as the evidence mounted as to what her mother was doing to her. The court...
An injured child's right to sue really belongs to the child's parent or legal guardian. A lawsuit concerning a child's injuries must be commenced by an adult parent or guardian acting for the child. It is generally the law that the statute of limitations on a child's claim does not begin to run until the child reaches the age of 18. If parents or guardians do not pursue a child's claims, the child has time to do so once he or she becomes an adult.
Parents or guardians who commence suits for children can settle out of court only if the settlement is reviewed and approved by a judge. While settlement of lawsuits is encouraged by the courts, the safeguard of judicial review of minors' settlements is required to insure that the child's best interests are being served by the settlement. Any money recovered through settlement or litigation belongs to the child and generally cannot be used until the child achieves...
The New York Post published a story called "Forgot a Prenup? It's Never Too Late." This story describes the rising popularity of premarital agreements, prenuptial agreements, and postmarital agreements. Soon to be newlyweds are embracing the idea of drawing up a strong contract due to the slumping economy. The fact of the matter is that newlyweds must take care to hire the right lawyer to draw up their premarital agreement.
Prenuptial agreements include all kinds of personal assets, not just automobiles, boats, real estate and investments. A prenuptial agreement will clearly delineate a multitude of concerns such as asset planning, investment allocations, structures involving joint checking accounts to pay household bills and how to allocate responsibility for credit, debt and loans. It can also cover alimony provision and insurance issues.
For residents of the Houston area, a Houston family attorney or Houston divorce lawyer...
