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September 2016 Archives

Divorce and college savings plans

Although most Texas couples who are planning to tie the knot consider the commitment to be a long-term matter, divorce rates reflect the reality of how many marriages come to an end. When that happens, family finances can suffer dramatically, especially if the estranged spouses choose to litigate the matter. In addition to dealing with decisions made by the court, spouses must satisfy their financial obligations to their attorneys. A college savings account could be eyed as a source of funds for managing life expenses or for avoiding the need to dip into another type of account.

Valuating a business for property division purposes

Whether a divorcing couple has one car and a checking account or valuable real estate and stocks, property division is a part of every divorce case. One asset that can be particularly difficult to divide during a Texas divorce is a business. Before property division negotiations can even begin, divorcing spouses who own a business must determine how much the enterprise is worth.