Divorce

Although couples do not enter marriage anticipating a divorce, it is increasingly common: 50 percent of first marriages, 67 percent of second and 74 percent of third marriages end in divorce. (Source: Forest Institute of Professional Psychology) When your fortune and family matter, it is critical to be prepared and protect your interests with a highly experienced legal team on your side.

The McClure Law Group's high-energy, tough, no-nonsense demeanor and dynamic presence make them powerful litigators. The team of attorneys at the McClure Law Group aim to deliver maximum results utilizing their experience in tax law, complex financial and property matters, litigation, international divorce and family law, including issues such as:

• Assets in one or more states
• Complicated income streams including stock options, bonuses, royalty income, etc.
• Property valuation of real estate, businesses and other assets
• Division of IRAs, 401(k) plans, pensions and other retirement accounts
• Division of stock options and restricted stock
• Division of intellectual property, including patents and copyrights
• Business valuation matters
• Division of debt
• Treatment of trusts
• Parenting plans

In divorce, especially an estate with high net-worth, the division of property is complex and vital to the protection of a client's fortune and family. McClure Law Group understands these complexities and utilizes forensic accountants and business valuations experts to determine the value and character of a client's assets, for any assets acquired during the marriage may be subject to equitable distribution.

Asset Tracing

Often, assets may have been hidden by a spouse prior to a divorce.  These assets must be discovered for a fair and equitable division of property during the divorce.  Hiding assets is not just for the wealthy or business owners, anyone may have a rainy day account that is not included in divorce documents. At McClure Law Group, sophisticated asset tracing is a critical step to ensure the transparency of the divorce and the financial stability of a client and children involved.

Spousal Support

Spousal support is another delicate matter related to divorce.  Texas offers two types of spousal support: contractual spousal support based on a contract between the divorcing spouses or court-ordered spousal maintenance that generally has a three-year limit and a cap on the amount that can be ordered, except in the case of disability.

The Texas Legislature enacted an alimony statute in 1995; however, it is restrictive and difficult to obtain court-ordered spousal support.  Under the Texas Family Code, spousal support is intended to assist a divorced spouse who was out of the job market for many years, lacks job skills, and does not have enough assets to provide for their own reasonable minimum needs.

The statute states that spousal support is not warranted unless the spouse seeking alimony demonstrates that they tried to seek suitable employment or develop the necessary skills to be able to support themselves during the separation period.

If a spouse has no skills or assets and has been married for at least 10 years, the spouse may be entitled to spousal support for a period not to exceed three years, up to a maximum of $2,500 per month or 20% of the ex-spouse's average monthly gross income.

Whether there is a law in place or not, divorcing parties can and often agree to pay contractual spousal support.  Under the Internal Revenue Code, spousal support payments are a deduction from gross income of the payor and reportable gross income to the receiving spouse.

While working to protect your fortune and family, McClure Law Group strives to minimize the potentially negative impact divorce can have on children and relationships. As leaders in the Collaborative Law movement, Kelly McClure and the team of attorneys at the McClure Law Group offer clients the option of a collaborative approach to divorce, which allows parties to maintain discretion and reduce the financial and emotional burdens associated with family law litigation.

Contact McClure Law Group for your consultation.