Some Texas couples who are getting married may want to consider a prenuptial agreement, but this needs to be a document that they prepare together and agree on. One woman who was given a cohabitation agreement to sign before moving in with her boyfriend found that it included provisions in case they got married that she was unwilling to agree to.
Many couples in Texas who are going through a divorce are re-examining their investments to make sure that their finances are in line with what they want after divorce. It's not a surprise to anyone that during marriage, problems with money arise. Many couples say that money issues were one of the primary reasons for their eventual divorce. Financial challenges after the divorce can affect people of any age, but they have a greater impact on individuals who are near retirement.
What is being referred to as the "marriage penalty" has some Texas couples talking about a strategic divorce in order to save money on taxes. This is something that is of special interest to high-income couples since they are the ones who have a higher tax liability. However, saving money on taxes is not the only thing that has some couples looking to divorce on paper.
For Texas residents whose marriages may be rocky, the thought of ending the relationship may bring relief as opposed to dread. This is just one of the signs that some experts say indicate a marriage is on the verge of ending in divorce.
Those who are getting divorced in Texas or any other state may need to determine how they will split their marital home. In some cases, one party will agree to be bought out by the other. However, there are many steps that need to be taken to determine how much an individual must pay to his or her former spouse. The first step in the process is to determine how much the house is worth.
No one can predict whether a marriage in Texas or anywhere else will succeed. However, research has made it easier to predict the types of people who may be more likely to get divorced. For instance, those who overreact to minor problems in their marriages may have a higher likelihood of ending their marriages. Of course, there is also a chance that they will decide not to follow through with this decision once they calm down.
Divorce can be a traumatic event for anyone who experiences it. However, it is important for Texas residents and others to avoid going into a shell when their marriage ends. Ideally, individuals will work with professional therapists or others who they trust to work through their feelings. It may also be a good idea to work with a financial adviser who will likely take an objective approach to decisions such as selling a home.
The divorce rate has been stable for most age groups for a while. However, gray divorces involving older people, particularly over the age of 65, have doubled since 1990. As some Texas couples will experience, the financial aspect is more complex in gray divorce because there are usually more assets to negotiate.
Property division negotiations often become contentious in high-asset divorce cases, and this is especially true in states with community property laws like Texas. Hiding assets during a divorce is both unethical and illegal, and spouses who engage in this type of behavior can face consequences ranging from an unfavorable property settlement and a contempt of court citation to criminal charges for fraud or perjury. The steps spouses take to conceal assets and cover their tracks are sometimes elaborate, and it usually takes the skills of specialists to identify them.
Many divorcing spouses in Texas go through major financial difficulties. For some, dissolving a marriage takes time and resources. The first step is to adjust the budget after losing the salary a spouse provided.