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October 2018 Archives

Preconceptions about prenuptial agreements are often false

The simple mention of a prenuptial agreement to a soon-to-be-married individual or his or her family is likely to bring a charged reaction. For many in Texas, it seems inappropriate, at the very least, to initiate a discussion regarding the potential for the failure of a marriage before it has had the opportunity to begin. At worst, it signals the inevitable doom of the union. However, understanding exactly what a prenup is and isn't can provide some perspective.

Tax law changes could make divorce more expensive

The Tax Cuts and Jobs Act, or TCJA, may mean lower federal tax rates and a higher limit for the Alternative Minimum Tax for some individuals in Texas, but it could also make divorce more expensive for soon-to-be-exes. This is especially true if children are involved since the TCJA eliminates the value associated with personal and dependent exemptions. Alimony payments will also be considered a simple property transfer without tax consequences for either party.