Preparing for a Texas Divorce: Assets
Going through a Divorce is painful no matter the circumstances. Before you get into the Texas Divorce Process, you can reduce expense, stress, and conflict by making sure you are financially prepared. Advanced planning helps you in making sound decisions, start preparing for post-divorce life, and avoid many post-divorce pitfalls. Below is a list of items you need to gather before counseling with an attorney. Financial Documents are a must to show what your true assets and liabilities are in the marriage. This is a very general checklist. Disregard what is not pertinent to your situation.
- Taxes (at least three years)
- Federal Tax Return
- State Tax Return
- Tax Liens
- All other IRS related documents
- Wills and Trusts with all attachments reflecting corpus and trust holdings
- Listing of all liabilities (including mortgages, credit card debt, personal loans, automobile loans, student loans, etc.):
- Name of entity, address, and telephone number
- Account number
- Amount owed
- Monthly payment
- Property securing payment (if any)
- Most current statements and account status of lenders (from last 3 years)
- A Listing of the address and location of all Real Property, (includes time-shares, vacation properties, commercial property, and lots):
- Deeds of Trust
- Notes including equity loans and second liens
- Legal Descriptions
- Mortgage Companies and Loan Servicers (Name, Address, Telephone Number, Account Number, Balance of Note, Monthly Payments) for all Primary and Secondary Mortgages
- Evidence of purchase gift or inheritance documents
- Current fair market value.
- Motor Vehicles (including mobile homes, boats, trailers, motorcycles, recreational vehicles; exclude company owned):
- Year, Make, Model of all Motor Vehicles
- Name on title
- VIN Number
- Fair Market Value
- Name of creditor (if any), address and telephone
- Persons listed on debt
- Account number
- Balance of any loan and monthly payment
- Net Equity in vehicle
- Current statements from last 3 years
- Cash and accounts with financial institutions (checking, savings, commercial bank accounts, credit union funds, IRA’s, CD’s, 401K’s, pension plans and any other form of retirement accounts):
- Name of institution, address, and telephone number
- Amount in institution on date of marriage
- Amount in institution currently
- Names on Account and Account Number
- Social Security Documents
- Pension Documents
- Company loans and documents related to benefits
- At least 3 years statements on all pertinent accounts
- A listing of separate property (property owned prior to marriage, family heir looms, property gifted, inherited property):
- Records that trace your separate property. These assets will remain yours if properly documented
- Retirement Benefits:
- Exact name of plan
- Address of plan administrator
- Starting date of contributions
- Amount currently in account
- Balance of any loan against plan
- Documents (Date of start of plan is especially important for divorce settlement)
- Publicly traded stock, bonds, and other securities (include securities not in a brokerage, mutual fund, or retirement account):
- Number of shares
- Type of securities
- Certificate numbers
- In possession of
- Name of exchange which listed
- Pledged as collateral?
- Date acquired
- Tax basis
- Current market value
- If stock (date option granted, number of shares and value per share)
- Stock options plans and related documents
- Insurance and Annuities Policies and Inventory:
- Name of insurance company
- Policy Number
- Type of insurance (whole/term/universal)
- Amount of monthly premiums
- Date of Issue
- Face amount
- Cash surrender value
- Current surrender value
- Designated beneficiary
- Other policies and amendments
- Closely held business interests:
- Name of business
- Type of business
- % Of ownership
- Number of shares owned if applicable
- Value of shares
- Balance of accounts receivables
- Cash flow reports
- Balance of liabilities
- List of company assets
- Hobbies or side businesses that generate income
- Mineral Interests (include any property in which you own the mineral estate, separate and apart from the surface estate, such as oil and gas leases; also include royalty interests, work interests, and producing and non-producing oil and gas wells:
- Name of mineral interest
- Type of interest
- County of location
- Legal description
- Name of producer/operator
- Current market value
- needs leases or production documents related to the asset
- Money owed by spouse (including any expected federal or state income tax refund but not including receivables connected with any business)
- Household furniture, furnishings, and Fixtures
- purchase documents
- Electronics and computers including software and hard drives
- Antiques, artwork, and collectibles (including works of art, paintings, tapestry, rugs, crystal, furniture, quilts) All major collections always need to be appraised! (Cars, Guns, Jewelry, Coins & Stamps, Action Figures, and Books)
- Miscellaneous sporting goods and firearms
- Jewelry including appraisals
- Animals and livestock
- Farming equipment
- Club Memberships
- Safe deposit box items
- Burial plots including documents of ownership
- Items in any storage facility
- Travel Awards Benefits (including frequent flyer miles)
You may decide to divorce or not, but it is very important to have all financial information before you enter into a Texas Divorce! This is a very general Divorce Financial Asset Checklist. Disregard what is not pertinent to your situation.
After reviewing this list, you may also decide to go and review the Family Information Form. This form is basic information about you and your spouse. By the time you are looking at this, you will realize that you may not really know your spouse’s information. You will need to know the correct information before filing for divorce in Texas.
These two informational lists will prepare you with the basic financial information that any divorce attorney will need to get your divorce started.
Nacol Law Firm P.C.
Dallas Fathers Rights Attorneys
Call (972) 690-3333
This is a complicated question to answer depending upon the facts of each case. If you have experienced domestic violence you need to immediately do whatever is necessary to secure you and your child’s safety. Many times a victim will go to court for a protective order and ask the judge to move the abusive or violent spouse out. In this situation contact an experienced family law attorney now!
In most cases, absent of violence or risk of abuse, we would not suggest that a spouse move out of the marital residence.
Why is this? One reason is once you have vacated the residence it may be very difficult to get back in! You have no legal obligation to leave the residence if your name is on the lease or mortgage personally and exclusivity.
Our suggestion to a client might be, to remain in the residence since the person who vacates may still have financial obligations and expenses of the family residence, while paying all expenses on a new residence for themselves. Double expenses are not a desirable result during the divorce process.
The higher wage earning spouse who moves out of the marital home must expect to continue to pay most of the household expenses, including the insurance and mortgage! What about the personal property and furnishings in the residence?
If an agreement has not been made between the divorcing couple, the moving spouse will generally only be able to leave with personal belongings (clothing & jewelry) until a court rules fairly as to temporary possession.
Secure a court order ASAP to equalize property and household expenses.
Child support is one of the most heavily litigated issues in all of family law. To increase or decrease payments there are specific requirements that must be met to modify a previous child support order. Per Tex. Fam. Code § 156.401 the requirements necessary to modify a prior child support order are:
- The circumstances of the child or an affected party have materially and substantially changed; or
- Three years have elapsed since the order was entered or last modified, and the amount of child support differs from the statutory guidelines by either 20% or $100.00.
The second requirement is self-explanatory. The three-year limitation to file for another modification is for the benefits of the Courts. If there was no three-year waiting period to refill, then every conservator would constantly attempt to modify child support, thus creating endless litigation for clogging the Courts’ dockets.
The first requirement needs more explanation. A Material and Substantial change in the circumstances of the child or an affected party must be clearly shown at trial. Many Courts are meticulous in making the determination of what a Material and Substantial change is regarding the child and the affected party to insure this requirement is not abused for excessive litigation.
To prove a Substantial and Material change in circumstances, a conservator must show evidence at the final hearing of:
- The financial needs/expenses at the time of the divorce or prior modification for the children and the person affected, and;
- The financial needs/expenses at the time of the request for the modification.
If evidence of financial needs/expenses are not submitted and proved regarding both (1) the prior divorce/modification and (2) the recent modification, then no Substantial and Material change can be adequately proved. Further, if the request for modification of child support is predicated solely on one conservator’s increase in earning capacity, absent other compelling evidence, the change in circumstances is not Substantial and Material. Interest of L.R., 416 S.W.3d 675, (Tex. App.—Houston [14 Dist.] 2013, pet. denied.)
If one conservator decides to file a modification of child support within three years just because the other conservative received a better job, it may be dismissed. At the end of the day a Court has broad discretion on determining what is Substantial and Material and may allow the case to be heard and give an unfavourable ruling, but if that occurs you will have the ability to appeal the judgment and request attorney’s fees. It is important to know in any family law case the Judge has extremely broad discretion and interprets case law in a way that he deems fit using the Best Interest Test.
If you are a conservator that meet these requirements above and wish to increase or decrease the child support obligation, be sure to hire an experienced attorney. Nacol Law Firm will always fight for you and your children’s best interest.
Julian Nacol, Attorney
Nacol Law Firm, PC
Call (972) 690-3333
Times have changed! Mothers’ having primary custody of the children is not always the accepted social presumption as in the past. Courts, legislatures and juries are becoming more aware of the vital necessity of father’s being involved in the lives of their children. Children with positive father involvement have fewer behavior problems, higher levels of sociability, and perform better in school.
Recent research suggests that father involvement is essential to a child’s social, moral, and physical growth during the adolescent period. A father’s involvement during pregnancy affects multiple areas of child development and family well- being, from prenatal care, to the likelihood that the father will provide ongoing financial and emotional support. This body of research is gaining momentum. Local and regional governmental agencies are focusing more and more on parental father involvement in the lives of children.
As a result of the continuing evolution of fathers’ rights, Courts are now recognizing a father’s ability to care for his children as an equal to that of the mother. Starting out on an equal plane, the Court may look to which parent is more stable, has a superior income, has a parenting plan in place for the child and is capable of providing proper child care and spending more quality time with the child.
As a father, how can you increase your chances of getting child custody in Texas? You must be a good father and spend time with your children by involving yourself in their daily lives. You need to be responsible and reliable to the needs of your kids. Know and participate in all aspects of their lives. This includes school activities, doctor’s appointments, extracurricular events and getting to know and bonding with their friends.
Reflect on your own personal experiences as a child growing up and think about what was really important to you and your parent’s interaction during that period.
If a father voluntarily gives up rights to his children based on prejudices of the past in the Court system, he will feed a mother’s confidence and sponsor unnecessary ongoing litigation. The number one mistake made by fathers in the court system today is a failure to take the time to learn how the system works. Failing to learn how the family law system works may doom your case. Once you have learned the ins and outs of the family law system you will need to form a viable plan, set goals and never relent in enforcing your rights as a father.
Five of the biggest mistakes men make in a legal action are: 1) failing to respond to the legal action itself; 2) obtaining incorrect legal advice (from friends and family rather than a legal expert); 3) signing a settlement agreement that is not in agreement with and later deeply regretting it; 4) failing to perform under the actual settlement agreement signed; and 5) getting frustrated and/or acquiescing to unreasonable demands and orders.
Some of the things you may want to consider as you prepare for the custody battle are as follows:
- Who has the financial ability to best care for the child(ren)? Be sure to have income tax verification, W-2 Forms and other financial information available.
- Form a parenting plan (child care, after school care, transportation, pediatrician, etc.).
- Who is more stable and/or can provide the best home for the child (ren)?
- Where has the child (ren) been attending school? Is it possible to keep the child in the same school district?
- Prepare a chronology of events leading up to the divorce including treatment of the child(ren), time spent with the child(ren), activities with the child(ren), the child(ren)’s schedule.
- Consider if a home study should be prepared regarding each home of the child.
- Consider whether a psychological evaluation should be done on the mother?
- Is drug testing necessary? (Be sure to request hair follicle drug testing.)
- Is there an alcohol or other addiction problem in the home?
- Who can provide the best moral upbringing for the children?
- Is there evidence such as pictures, video tapes, etc. that may help your case?
- Avoid unnecessary compromising photos or data on Facebook or other social networking sites.
List any other relevant issues you feel may be important to your child custody case before you meet with an attorney about your rights as a father.
Are You An Alienated Parent With A Parental Alienation Syndrome (PAS) Family Experience? What Can You Do?
There is nothing worse than a family torn apart by parents who are battling over child custody. Many of these cases are in serious litigation and often, these disputes will continue for years.
What is Parental Alienation Syndrome (PAS)? In the 1980’s, forensic psychiatrist, Dr. Richard A. Gardner noticed a large increase in a disorder where one parent will program or brainwash a child to alienate the other parent. He also found the child was self-creating contributions supporting the alienating parent’s campaign of denigration against the targeted parent.
Dr. Gardner’s definition of PAS: Parental Alienation Syndrome (PAS) is a disorder that arises primarily in the context of child-custody disputes. Its primary manifestation is the child’s campaign of denigration against a parent, a campaign that has no justification. It results from the combination of a programming (brainwashing) parent’s indoctrinations and the child’s own contributions to the vilifications of the target parents. (Gardner, the Parental Alienation Syndrome)
There is no pure PAS diagnosis if the child still has a positive relationship with the parent even though the other parent is trying to alienate the child.
Courts are generally more conservative in their judgment acknowledging PAS in high conflict cases. Even though Parental Alienation evidence may be overwhelming, often courts will enter judgments allowing the “parents to make joint decisions about the child’s welfare.” This will not ever happen between two alienated parents! In many situations it will take a dramatic or tragic situation to force the court to change primary custody. When the alienating parent becomes unstable mentally, the court will recognize that there is something “out of line” and will become more supportive of the targeted parent.
What are the Best ways for the Alienated Parent to Deal with the PAS issue?
Keep your “cool”. Never retaliate. Never act in anger since anger=unstable.
Never give up! You cannot let your child grow up in this environment of hate. The child is the victim of a situation that he/she never asked to be in.
Be “Proactive”! It is a terrible situation for the entire family, but work on seeking constructive action to solve the problem. Do not allow yourself to become a victim!
Always keep a journal of dates and times of major key events. Explain when the situation occurred and what happened specifically. Any Witnesses?
Always call and show to pick up the child even when you know he/she will not be there. Try to contact the police to have a record of the no-show event or take a witness to video the denial of possession. You do have an interest in your child, no matter what the alienating parent says.
When you do see the child, focus on enjoying your parent-child time together. Never talk badly about the other parent and do not let children overhear inappropriate conversation on the telephone.
Hire a skilled family lawyer who has experience in parental alienation syndrome issues. Do your homework on PAS and interview the lawyer on his experience and what your issues are. If you are not satisfied look again. This is your life and you are trying to save your child.
Be prepared to financially see this case to the end. Most of these case last for years. You cannot start and stop.
A forensic evaluator in PAS cases is usually an asset in showing that there is truly alienation occurring and recommend changing legal and primary custody to the alienated parent. An appropriate parenting plan included showing how well the child will be taken care of with the alienated parent, is advised.
Always pay your child support on time and never violate court orders. Never give the alienating parent reason to question your behavior.
Last but not least, to show that your parenting skills are superior, take a comprehensive parenting course to be able to show the court that you strive to be the best parent you can to the child, no matter what the alienating parent says.