Category: Divorce

HOUSTON FAMILY LAWYER’S ADVICE FOR NEWLYWED FINANCES

Whether you are planning to get married or are already enjoying your wedded bliss, there is no time like the present to get financial advice from a knowledgeable family lawyer in Houston. You and your partner should put more planning into your financial future than you did into your wedding, after all, one only lasts a day and the other is for the rest of your lives!

Financial discussions are not always easy, but laying out a clear roadmap early on can actually be beneficial to the overall health of your marriage. Money issues are a huge contributor to unhappiness in a partnership, and Houston family lawyers have seen time and again how working together earlier can avoid a lot of stress later on in the relationship.

Planning for the Future

It is impossible to peer into the future and know everything that you and your spouse are going to face together, but there are some pretty obvious considerations to make. Talking with your partner and possibly with a family lawyer in Houston can help you determine how you plan to approach many of the biggest financial considerations facing newlyweds.

· College and/or student loans

· Purchasing a home

· Planning for children

· Funding retirement

· Life insurance policies

· Other large purchases (cars, furniture, etc.)

· Travel

Planning for these types of things can cause some stress, but it can also be fun. Knowing that you eventually want to be able to take a trip to Paris and then taking concrete steps to make it happen can be a wonderful bonding experience and will also pay off in the experience of a lifetime. Family lawyers in Houston see all too often how couples get into financial difficulties by taking trips or making large purchases when they have not planned ahead to make them realities.

Planning for the Present

While just as important, sometimes figuring out what to do about finances right now is a little less fun. Still, you and your spouse need to take the opportunity to look at your current financial situation in order to make your long-term goals a reality. There are some considerations that are especially important for newlywed planning, too, when it comes to how to combine (or not) your finances.

· What are your expectations when it comes to money

· Which finances and accounts will be combined, and which will not

· How will you deal with debt brought into the marriage

· Will there be resentment if one spouse makes more money than the other

· What are your views on using credit

Budgeting

In order to develop a long-term plan, you and your partner will need to use the above information to create a workable budget. This should include:

· Income (wages, businesses, investments)

· Assets (accounts, stocks, retirement, property)

· Debts (school, home loans, business loans, credit cards)

· Expenses (ongoing and incidental)

By laying out what you have and what you need, you can develop a plan to help meet your current requirements, as well as to save for the future. A good family lawyer in Houston can help you put all of this information into perspective to create workable plan to meet your financial needs.

KATY PERRY AND RUSSELL BRAND FINALLY DIVORCED

Katy Perry and Russell Brand were divorced this week, ending their 14 month marriage.  Even though the couple reached a divorce settlement months ago, California law requires couples to wait 6 months before they can be officially divorced.
Thankfully for Texas residents, a Texas court can dissolve your marriage only 60 days, 1/3 of the time, after a Petition for Divorce is filed.  There are exceptions to this waiting period for cases of domestic violence.  Parties can get into court sooner than the 60 days through Temporary Orders hearings if they need more immediate relief, such as child custody and visitation provisions or support.

If you are ready or in need of a divorce, the experienced and dedicated attorneys and team at Hegwood & Associates are ready to guide you through the process as quickly and seamlessly as possible.