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July 2016 Archives

Five Ways that a Divorce can Impact Your Credit, Part 2

Divorce can balloon into several different but related problems, most commonly credit issues, and bankruptcy. As discussed in a previous post, these issues are serious but are manageable with quick and decisive action. This post will continue with the final three tips on ways to protect your credit during a divorce.

A rundown on paternity suits

A paternity suit is a legal action to establish parental rights over a child by legally declaring that a particular person is a father. These suits can be filed by the father or the mother. The mother would attach it because it would compel the father to pay child support. The father would file it to gain parental rights to participate in raising the child.

Potential issues with a collaborative divorce

Everyone is always trying to solve the problems with divorce. Too many people are getting divorced. It is too expensive. The children are traumatized. But, in the end, divorce may be the only sensible solution available to most people who need to leave a toxic marriage. And collaborative divorce is a comparatively new way to approach dissolving a marriage.

Five ways that a divorce can impact your credit, part 1

Disentangling a jointly run life is messy, expensive and complicated; there is no other way around it. Unfortunately, that could mean that your credit score will take a hit as you begin taking control of your financial security. This post will go over the five most common ways your credit could be affected by a recent divorce.

Should you keep records if you receive spousal support?

In short, yes, you should absolutely keep records of any spousal support payments you receive. Whenever a dispute arises the courts will look to and rely on any records that evidence the ongoing conduct of the parties. The person who is able to produce the better and clearer records will have the upper hand during litigation. Additionally, spousal support payments are included in taxable income therefore, it is a good idea to track payments received in case you are audited by the IRS.

The Texas Child Support Calculator explained, Part 2

Child support guidelines are designed to ensure that all parents and children are treated fairly. The numbers are inputted into the guidelines and formulas and a child support number is generated. The goal is to remove bias from the calculus. As discussed in a prior post, to help parents estimate their child support payments the Texas Attorney General has posted a child support calculator on their website. This post will address the final factors that the calculator considers.

Financial tips for the recently divorced

Divorce implicates far more than splitting with your former spouse. It implicates asset division, shared parenting time with children, retirement, and even financial difficulty. Unfortunately, many people who divorce go through other forms of financial turmoil. It is an unfortunate side-effect of divorce. Here are seven tips to help you through any financial issues after a recent divorce.

Divorce Mediation: An Alternative to Divorce?

Divorce mediation has been making some waves recently as a viable alternative to traditional divorce proceedings. A variety of studies show that mediation can save clients significant sums, that it is faster, and easier on the family emotionally and spiritually. A recent article published online compiled these findings.

The Texas Child Support Calculator explained, part 1

Texas, like most other states, utilizes child support "guidelines" to calculate the amount that both parents need to provide to care for their child. Essentially, it is used to determine the amount of child support payments each parent must pay. Judges rarely allow parties to deviate from these guidelines ? it is permitted in only extreme and unusual circumstances.

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