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John K. Grubb & Associates, P.C.
254 followers -
Houston divorce attorney with decades of experience and considerable business acumen.
Houston divorce attorney with decades of experience and considerable business acumen.

254 followers
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John K. Grubb & Associates, P.C.'s posts

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What Do I Have to Worry About When Splitting My Retirement Assets?: How much do you know about divorce? It can be pretty complicated, and it can get even more complex if you have a lot of assets to deal with. But did you know that your retirement assets are probably the largest liquid assets that you have to your name? Did you also know that it takes a special touch to split these assets during divorce? What to Look Out for When Splitting My Retirement Assets Taxes and Penalties– Many retirement accounts are tax-differed, which means you don’t have to pay taxes until you withdraw from these accounts after retirement. This lets you accrue interest on that portion of your savings that would have been taken by taxes. This is an awesome way to save, but it can be tricky when it comes to divorce. If you withdraw portions of these tax-differed accounts while splitting them in a divorce, you could... Read More » The post What Do I Have to Worry About When Splitting My Retirement Assets? appeared first on John K. Grubb & Associates, P.C.. http://bit.ly/2loAweE #Divorce #DivorceAndRetirement #Retirement

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How Much Could a Missing Prenup Cost You? How About 3-Quarters of a Billion Dollars…: Twenty-two years ago, Bill Ackman got married. He and his wife—Karen Ann Herskovitz—had three daughters together and life seemed good for a while… And when we say good, we mean fantastic. Over the course of his career Bill has amassed a fortune of $1.65 billion, and Karen has become a landscape architect, but their success hasn’t cemented their relationship together. Now, a missing prenup could lead to a divorce court battle of epic proportions. Could a Missing Prenup Scuttle Your Divorce? Back in December 2016, Page Six reported that the New York power couple had begun to tell their friends that they are separating. Soon after, rumors began to fly that we should start expecting divorce papers to be filed sometime early this year. However, if those divorce papers do make their way to the court house soon, the couple will have to split Bill’s $1.65 billion in assets. You... Read More » The post How Much Could a Missing Prenup Cost You? How About 3-Quarters of a Billion Dollars… appeared first on John K. Grubb & Associates, P.C.. http://bit.ly/2lgM1sO #PremaritalAgreements #CelebrityDivorce

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5 Ways to Manage Your Finances During a Divorce?: Divorce is a pretty rough time, but if you aren’t careful, you could wind up having an even worse time after the divorce is finalized. What are we talking about? Well, if you’re getting a divorce, have you thought about what’s going to happen to your joint accounts, retirement funds and debt? Manage Your Finances During a Divorce with These 5 Steps Keep Paying on Open Accounts– No matter how your divorce goes down, not paying your debts is still going to ping your credit score. Don’t stop payment on an account you think might go to your spouse. If it’s still under your name that nonpayment will still show up on your credit report. Check Your Credit Report– Your credit report has a comprehensive history of almost every financial act you have done in the past few years. It’ll show you what you owe, and accounts opened in your... Read More » The post 5 Ways to Manage Your Finances During a Divorce? appeared first on John K. Grubb & Associates, P.C.. http://bit.ly/2lcggkm #Divorce #Debt #DivorceFacts #Finances

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Why Are More Millennials Getting a Prenup?: Prenups are sometimes considered unromantic and poisonous to marriages, yet in recent years the number of prenups has gone up. The number of prenuptial agreements made over the past 20 years has increased fivefold, and you’ll never guess who has been getting more over the past three years. Are More Millennials Getting a Prenup? According to new numbers from the American Academy of Matrimonial Lawyers, 62 percent of their surveyed lawyers have seen an increase in prenups for millennials. This new trend has a lot of people scratching their heads, but the closer you look at it, the more sense it makes. First off, prenups aren’t the unromantic marriage-killers rumor claims. Marital agreements protect the personal assets of people who enter into marriage, and with divorce on the rise, that can’t be a bad thing. Many millennials have seen what happens in divorces first-hand, and some experts believe that this... Read More » The post Why Are More Millennials Getting a Prenup? appeared first on John K. Grubb & Associates, P.C.. http://bit.ly/2l0B66p #PremaritalAgreements #Prenup

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How Does Splitting Debt During a Divorce Work?: When people get divorced they have to worry about many things. What usually comes to mind first is who gets the kids, then divorcing couples usually think about dividing their assets and property. However, there is one thing people don’t always think about at the beginning of a divorce—debt. Splitting Debt During a Divorce and What You Need to Know Dividing debt is one of those things that people don’t think of when they enter into a divorce, but it should be one of the first things they think about. Debt is a serious component of our financial lives, and if you don’t have yours sorted out, you could be in big trouble. Luckily, Texas law—and experienced Houston high-assets divorce attorneys—have thought about this aspect of divorce. Texas is a community property state and so it already has structures in place to help you and your soon-to-be ex divide what... Read More » The post How Does Splitting Debt During a Divorce Work? appeared first on John K. Grubb & Associates, P.C.. http://bit.ly/2l0RiAq #Divorce #Debt #DivorceFacts #TexasLaw

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Bizarre World of Divorce: He Took Her Name, She Took Him to Divorce Court: Have you ever thought about what your name would be after getting married? In our culture, the wife usually takes on the last name of the husband, but every once in a while, a wife will decide to keep her maiden name. That’s what happened in our next tale from the Bizarre World of Divorce, but can you guess what the strange twist in this story is? She Took Him to Divorce Court, and He Took Her Name Upon exchanging vows, a professional woman decided that she was going to keep her maiden name. That’s not unusual in this day and age, but what happened next threw the families of both spouses for a loop. The husband only worked part-time when the couple wed. So, after a long discussion, they decided that their children would take the wife’s name since she was the family’s breadwinner. Both the husband’s family and... Read More » The post Bizarre World of Divorce: He Took Her Name, She Took Him to Divorce Court appeared first on John K. Grubb & Associates, P.C.. http://bit.ly/2kW6Jd2 #Divorce #ComplexDivorce

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Could No-Fault Divorce Be Eliminated in Texas?: Happy New Year! It’s January 2017 and you know what that means… It’s divorce season! This is the time of the year when couples who have struggled with their relationships finally call it quits. They file for divorce in the hopes that this will help them start a new chapter in their lives, but here in Texas, it could become a bit harder to take that leap forward. Could Texas Eliminate No-Fault Divorce? Some experts estimate that around 90 percent of the divorce cases in Texas are no-fault divorces, but that’s not stopping Representative Matt Krause. Krause is from Fort Worth and he has drawn up a one page bill that would ban no-fault divorces in Texas. Krause says that the measure will add “due process” to divorce proceedings, which will protect spouses and the family unit. Rep. Krause is also proposing a bill that would extend the wait period... Read More » The post Could No-Fault Divorce Be Eliminated in Texas? appeared first on John K. Grubb & Associates, P.C.. http://bit.ly/2kQNIZE #Divorce #NoFaultDivorce #TexasLaw

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Why Is Pet Custody Important to So Many Divorcing Couples?: A few weeks ago, we talked about how the court views your pets when you get a divorce. As it turns out, most courts consider our fuzzy friends property and not people. That means most judges will just assign a spouse as the pet’s owner, but that’s not how every divorcing couple wants to handle their four-legged family members. Is Pet Custody Important to Your Divorce? A couple getting a divorce in Canada hit a wall when it came time to negotiate who got what. This wall was unexpected, considering they had been able to work out every other detail of dividing their assets. So, what kept them from settling and avoiding a court trial? The custody of their pet. These soon-to-be ex-spouses wanted different custody arrangements for their dogs, but they couldn’t agree. So, they took their divorce case to court in hopes that a judge would iron out... Read More » The post Why Is Pet Custody Important to So Many Divorcing Couples? appeared first on John K. Grubb & Associates, P.C.. http://bit.ly/2jLyWpd #Divorce #Custody #PetCustody #Pets

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Why is Johnny Depp Refusing to Pay His Divorce Settlement?: Last time we looked at the Amber Heard/Johnny Depp divorce things were a muddy mess. Donations to charities had been made and ex-spouses were accusing one another of trying to cheat the other. That mess seemed to straighten itself out, but then Christmas rolled around and legal briefings started flying again. Is Johnny Depp Refusing to Pay His Divorce Settlement? Johnny Depp and Amber Heard settled their divorce when Johnny agreed to pay Heard $7 million. However, that wasn’t the end of this celebrity divorce storm. Depp tried to bypass paying Heard by donating the money directly to charities after Heard claimed she would donate the entirety of the settlement. This infuriated Heard, who immediately shot back at Johnny, claiming his was trying to get tax breaks. That claim didn’t pan out—turns out Heard was getting the tax breaks because the money was donated in her name. So, the two... Read More » The post Why is Johnny Depp Refusing to Pay His Divorce Settlement? appeared first on John K. Grubb & Associates, P.C.. http://bit.ly/2kBCUOL #Divorce #CelebrityDivorce
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