Lewisville TX Attorney Blog

What are the Most Common Myths About Filing for Bankruptcy?

Bankruptcy has a bad reputation for the wrong reasons. It is also poorly understood by many in our society. Some of the myths about bankruptcy can make people less likely to file even when they would benefit. Common myths about bankruptcy include but are not limited to: It permanently ruins your finances. Bankruptcy attorneys are used to hearing this concern from potential clients. However, your credit scores are not permanent and can be improved in the years after you file. Bankruptcy filings do not stay on your credit reports forever. You can improve your credit scores by showing financial stability, such as paying your bills on time. Only deadbeats file for bankruptcy. The vast majority of the American population could be thrust into an impossible financial situation with no warning. Job loss, chronic illness and serious injuries could make it very difficult to meet your financial obligations. Even with the…
Read More »

Jared Julian Receives Board Certified Family Law Attorney Designation

We are proud to announce that Jared W. Julian has been designated a board certified family law attorney by the Texas Board of Legal Specialization (TBLS). It is a major accomplishment to become a board certified attorney in Texas. Unlike other practicing attorneys in Texas, board certified attorneys can represent themselves as specialists in their practice areas. There are more than 100,000 attorneys who can practice law in Texas, but only a small percentage have received this designation. Attorneys must meet stringent and ongoing requirements before and after they become certified. Applicants must have been in practice for a minimum of five years. In addition, an applicant must demonstrate three years of substantial involvement in an area of law. TBLS requires applicants to complete approved continuing legal education (CLE) courses. Applicants must be vetted by qualified peers. TBLS applicants must furnish references from five qualified sources. Applicants must demonstrate a…
Read More »

How Does the New Tax Law Affect Alimony?

Late December, President Donald Trump signed a major tax overhaul passed by Congress. There are many ways the recent changes to our tax code will affect you and millions of others. One of these changes will affect alimony payments for divorce agreements that are finalized after December 31, 2018. Presently, you may deduct alimony payments on your income tax return. Your ex-spouse must pay taxes on any alimony payments she or he receives. Alimony payments are treated as income for your ex-spouse. Starting on January 1, 2019, this policy will go into reverse. If you divorce by this date, then you would no longer be able to deduct alimony payments. Your ex-spouse would not have to pay taxes on alimony payments he or she receives. Alimony payments would become “tax neutral”, much like child support. This is a major change for most filers. Depending on your income tax bracket, the…
Read More »