When you’re facing bankruptcy in Texas, you may wonder how much – if any – of your property you may be able to keep. The answer depends on your individual case and the laws of your state. In a bankruptcy, much of a person’s property may become property of the bankruptcy estate and used to pay off … [Read more...]
Could my wife be a sex addict?
When we hear the term “sex addict” it’s almost always a man that comes to mind, but the reality is that women, too, can have compulsive sexual behaviors. For some women, these behaviors may not be as overt as for male sex addicts, but their actions may be just as disastrous for a marriage, leading … [Read more...]
Running a Business with Your Ex after Divorce
Building an idea into a real, profit-making company takes time, dedication, and teamwork. It takes owners who understand each other and who complement each other’s skills and talents. Some couples that have such a relationship choose to go into business together, but what happens if the marriage … [Read more...]
5 Tips for Dealing with the Aftermath of Bankruptcy
For many people, facing bankruptcy can seem overwhelming. Your finances are about to change in major ways, so it helps to be prepared and have a plan of action to get through the months and years following your bankruptcy. Some Steps to Deal with Bankruptcy Start fresh. If excessive debts … [Read more...]
Avoid These Common Bankruptcy Scams
If you’re facing bankruptcy, it’s important to be aware of bankruptcy-related scams and how to protect yourself. When a person is facing financial crisis, it’s common to seek any and every possible avenue for getting back on their feet. Unfortunately, there are unscrupulous individuals who … [Read more...]
Consequences of Hiding an Inheritance in Bankruptcy
Hiding inheritance in bankruptcy – or hiding any asset for that matter – is one of the bad decisions people may make when they are going through the bankruptcy process. Always follow Texas bankruptcy laws, and come to Plano bankruptcy attorneys with any questions that may arise to ensure … [Read more...]
Spendthrift Trusts: Protecting Inheritance During Bankruptcy
Spendthrift trusts may be helpful for individuals who file for bankruptcy in Texas but who later receive an inheritance shortly after filing for bankruptcy. In many cases, it is likely that assets from an inheritance received within 180 days of filing for bankruptcy will be used to pay off … [Read more...]
How Assets Affect Taxes In a Divorce
Getting a divorce can mean big changes, not only in one's personal life, but financially as well. Many divorcing couples fail to understand the impact of taxes after a divorce until they receive their settlement and are left with much less assets in the divorce than anticipated. It is important for … [Read more...]
Do you have to pay taxes on alimony payments?
Wondering whether you have to pay taxes on alimony payments is not uncommon. Alimony, also known as spousal support, is paid from one spouse to another after a divorce. In Texas, alimony can be requested if: the marriage lasted longer than 10 years; the spouse requesting support is … [Read more...]
Tax Withholding: How it Relates to Bankruptcy
Tax withholding is the amount of funds withheld from paychecks, pensions, bonuses and other forms of income in order to pay an individual’s annual federal income tax. Ensuring enough tax is withheld is crucial to managing household finances properly and, in the end, preventing the need for … [Read more...]
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