Getting Divorced? Here is Your Financial Checklist to Get Started.
Preparing for a Texas Divorce: Assets
Preparing for a divorce is painful no matter the circumstance. Before you get into the tangle of the Texas divorce process, you can reduce the expense, stress and conflict many people face by making sure you are prepared. Planning ahead allows you to make sound decisions and start preparing for your life post-divorce, and may also help you avoid post-divorce pitfalls. Below is a list of items you need to gather before counseling with an attorney.
1. A Listing of all Real Property, address and location, including (include time-shares and vacation properties):
1. Deeds of Trust
3. Legal Description
4. Mortgage Companies (Name, Address, Telephone Number, Account Number, Balance of Note, Monthly Payments)
5. Current fair market value
2. 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):
1. Name of institution, address and telephone number
2. Amount in institution on date of marriage
3. Amount in institution currently
4. Account Number
5. Names on Account
3. Retirement Benefits
1. Exact name of plan
2. Address of plan administrator
5. Starting date of contributions
6. Amount in account on date of marriage
7. Amount currently in account
8. Balance of any loan against plan
4. Publicly traded stock, bonds and other securities (include securities not in a brokerage, mutual fund, or retirement account):
1. Number of shares
2. Type of securities
3. Certificate numbers
4. In possession of
5. Name of exchange which listed
6. Pledged as collateral?
7. Date acquired
8. Tax basis
9. Current market value
10. If stock (date option granted, number of shares and value per share)
5. Insurance and Annuities
1. Name of insurance company
2. Policy Number
4. Type of insurance (whole/term/universal)
5. Amount of monthly premiums
6. Date of Issue
7. Face amount
8. Cash surrender value
9. Current surrender value
10. Designated beneficiary
6. Closely held business interests:
1. Name of business
3. Type of business
4. % of ownership
5. Number of shares owned if applicable
6. Value of shares
7. Balance of accounts receivables
8. Cash flow reports
9. Balance of liabilities
10. List of company assets
7. 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.
1. Name of mineral interest
2. Type of interest
3. County of location
4. Legal description
5. Name of producer/operator
6. Current market value
8. Motor Vehicles (including mobile homes, boats, trailers, motorcycles, recreational vehicles; exclude company owned)
5. Name on title
6. VIN Number
7. Fair Market Value
8. Name of creditor (if any), address and telephone
9. Persons listed on debt
10. Account number
11. Balance of any loan and monthly payment
12. Net Equity in vehicle
9. Money owed by spouse (including any expected federal or state income tax refund but not including receivables connected with any business)
10. Household furniture, furnishings and Fixtures
11. Electronics and computers
12. Antiques, artwork and collectibles (including works of art, paintings, tapestry, rugs, crystal, coin or stamp collections)
13. Miscellaneous sporting goods and firearms
15. Animals and livestock
16. Farming equipment
17. Club Memberships
18. Travel Award Benefits (including frequent flyer miles)
19. Safe deposit box items
20. Burial plots
21. Items in any storage facility
22. A listing of separate property (property prior to marriage, family heir looms, property gifted)
23. Listing of all liabilities (including mortgages, credit card debt, personal loans, automobile loans, etc.):
a. Name of entity, address and telephone number
b. Account number
c. Amount owed
d. Monthly payment
e. Property securing payment (if any)
f. Persons listed as liable for debt
Recently the news covering the custody battle between Bode Miller and his child’s biological mother Sarah McKenna became a 24-hour news cycle. According to court filings, Ms. McKenna while still pregnant moved to New York from California to attend school. Approximately a month prior to Ms. McKenna’s departure from California, Mr. Miller filed a paternity and custody suit in California State Court. Two days after the child was born, Ms. McKenna filed a custody case in New York State Court. The New York family court decided that the Ms. McKenna had “fled” California with the child in utero; and, while this was not child abduction under the UCCJEA, the Court decided the move was simply to avoid the California Court’s jurisdiction. Further, the Court decided that the prior paternity/custody suit filed in California by Mr. Miller, “trumped” the New York filing as well, giving California statutory authority to decide the custody issue. In On November 14, 2013, the New York Family Court’s decision was overturned on appeal and was remanded back to New York family court for further decision on all issues.
This case has ignited a debate over whether a mother may move an unborn child to a different jurisdiction prior to the birth of the child.
Even if you have not been proven to be the biological father of the child, in Texas, you still have legal rights that may be enforced.
Prior to the birth of the child, you may request a DNA test from the court. If the mother agrees paternity can be determined even before the baby is born. In addition, now there are non-evasive and less risky options for prenatal testing for paternity.
A purported father does have the right to establish paternity. Establishing paternity in Texas can be a process that occurs prior to the birth of the child. There are several forms of pre-natal testing available. Some methods are costly and some methods more invasive than others. In Texas, a man can establish paternity prior to the birth of a child by filing a request for adjudication of parentage and voluntary litigation. If the mother agrees to prenatal testing the Court will accept the DNA test results and make a determination on the record. However, if the mother does not agree, a Court may not force her to have invasive testing on the fetus.
A purported father has a right to a custody determination although this right cannot be determined prior to the birth of the child. In Texas, a court has jurisdiction to decide custody issues if Texas is the “home state” of the child. In the case of a child less than six months of age, “home state” means “the state in which the child lived from birth with a parent. . . .” Tex. Fam. Code Ann §152.102(7); see also Waltenburg v. Waltenburg, 270 S.W.3d 308, 315 (Tex. App.—Dallas 2008, no pet.).
The Brookings Institute states that 41% of all births in 2012 were to unwed mothers! What are a father’s rights over his children? With dropping marriage rates and increasing non-married couples living together, the percentage of children being born out of wedlock is growing yearly. How are the fathers of these children treated? In most states, the mother of a child has 100% of the custody rights until the paternity of the father is legally established. How does a Texas father legally establish paternity when the mother of their child refuses to allow him to sign the birth certificate and tells him that he will never have any type of communication or relationship with his child?
In today’s fast pace world there are many situations where a woman may selfishly just want a child with no strings attached, including a dad! Welcome to the internet dating world! Many professional men are contacting us concerning an internet dating contact, a short relationship, and pregnancy. The father then is told he will not be allowed in the child’s life and if he tries, serious legal problems will be encountered or he will face serious and costly legal road blocks pursued by the mother!
Practicing attorneys in Texas who defend Interstate Jurisdiction cases help many fathers who live in other states while the mother and child reside in Texas.
What are a father’s rights in the State of Texas? Any and every right a parent may have is available to a father who seeks them.
What should a father, living out of state, with a child living in Texas, do to establish his paternity and legally enforce his father’s rights? He should consult an attorney ASAP who can help him obtain and preserve his paternity rights with his child. Once the judge issues a finding of paternity, the father has all the rights of any other father such as custody, decision making, conservator rights, and visitation rights.
How does the father file for paternity of the child in Texas?
Paternity Registry (Family Code 160.401-2)
A man who desires to be notified of a proceeding for the adoption of or the termination of parental rights regarding a child that he may have fathered may register with the registry of paternity:
Before the birth of the child or no later than the 31st day after the date of the birth of the child
Alternate means to Establish Paternity (Family Code 160.301-2 and 160.402, 160.601)
The mother of a child and a man claiming to be the biological father of the child may sign an acknowledgment of paternity with the intent to establish the man’s paternity. An acknowledgment of the paternity must:
Be in a record
Be signed or otherwise authenticated by the mother And the Man seeking to establish paternity
State that the child whose paternity is being acknowledged:
1. Does not have a presumed father or has a presumed father whose full name is stated
2. Does not have another acknowledged or adjudicated father
State whether there has been genetic testing and that the acknowledging man’s claim of paternity is consistent with the results of the testing
State that the signatories understand that the acknowledgment is the equivalent of a judicial adjudication of the paternity of the child and that a challenge to the acknowledgment is permitted only under limited circumstances and is barred after 4 year.
A man is entitled to notice of a proceeding regardless of whether he registers with the registry of paternity if:
A father-child relationship between the man and the child has been established under this chapter or another law.
The man commences a proceeding to adjudicate his paternity before the court has terminated his parental rights.
The parentage of a child may be adjudicated in a civil proceeding by voluntary litigation.
A Father should be proactive and enforce his rights promptly to enhance his probability of fair and equal treatment that is binding under the law!
Now is the time to start working on your Holiday 2013 Schedule for visitation with your children during this wonderful time of year! Here is a reminder of the current Texas Family Law Code’s Standard Possession Order for the Holidays.
§ 153.314. Holiday Possession Unaffected by Distance Parents Reside Apart.
The following provisions govern possession of the child for certain specific holidays and supersede conflicting weekend or Thursday periods of possession without regard to the distance the parents reside apart. The possessory conservator and the managing conservator shall have rights of possession of the child as follows:
Texas Family Law Code’s Standard Visitation Guidelines for Christmas Break:
(1) the possessory conservator shall have possession of the child in even-numbered years beginning at 6 p.m. on the day the child is dismissed from school for the Christmas school vacation and ending at noon on December 28, and the managing conservator shall have possession for the same period in odd-numbered years;
(2) the possessory conservator shall have possession of the child in odd-numbered years beginning at noon on December 28 and ending at 6 p.m. on the day before school resumes after that vacation, and the managing conservator shall have possession for the same period in even-numbered years;
Texas Family Law Code’s Standard Visitation Guidelines for Thanksgiving:
(3) the possessory conservator shall have possession of the child in odd-numbered years, beginning at 6 p.m. on the day the child is dismissed from school before Thanksgiving and ending at 6 p.m. on the following Sunday, and the managing conservator shall have possession for the same period in even-numbered years;
Texas Family Law Code’s Standard Visitation Guidelines for Child’s Birthday:
(4) the parent not otherwise entitled under this standard order to present possession of a child on the child’s birthday shall have possession of the child beginning at 6 p.m. and ending at 8 p.m. on that day, provided that the parent picks up the child from the residence of the conservator entitled to possession and returns the child to that same place;
Texas Family Law Code’s Standard Visitation Guidelines for Father’s Day:
(5) if a conservator, the father shall have possession of the child beginning at 6 p.m. on the Friday preceding Father’s Day and ending on Father’s Day at 6 p.m., provided that, if he is not otherwise entitled under this standard order to present possession of the child, he picks up the child from the residence of the conservator entitled to possession and returns the child to that same place;
Texas Family Law Code’s Standard Visitation Guidelines for Mother’s Day:
(6) if a conservator, the mother shall have possession of the child beginning at 6 p.m. on the Friday preceding Mother’s Day and ending on Mother’s Day at 6 p.m., provided that, if she is not otherwise entitled under this standard order to present possession of the child, she picks up the child from the residence of the conservator entitled to possession and returns the child to that same place.
Texas child visitation orders may differ from the norm to accommodate family situations so you should always check your decree first! If in doubt about your holiday visitation time, contact an attorney who can help you to make sure nothing happens to affect this special season with your children. ‘Tis the Season To Be Jolly’!