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March 2020 Archives

Divorce can be better when you remember these things

Just like every marriage is unique, ending a marriage is a little bit different for everyone. Some people in Texas have to figure out what to do with a family home. Others have to sort out how to divide debt. Though these are two different issues, they are still part of the same process -- property division. So, no matter what you might be dealing with during your own divorce, there are a few things you should keep in mind.

Don't be taken by financial surprise in a divorce

In Texas, many soon-to-be ex-spouses either make financial assumptions about a divorce or simply do not know what awaits them. Unfortunately, these individuals often face some unwelcome surprises. It is best to get educated ahead of time to learn how to deal with divorce-related financial issues before they arise.

Take steps to regain control of your financial life after divorce

Your decision to divorce will have serious financial implications on your life. You know that the choices you make throughout this process will directly impact your future, which is why it is important to think long-term. In fact, there are steps you can take now to start preserving your interests and preparing for the process ahead.

People should consider a prenuptial agreement

Couples getting married in Texas should explore the possibility of a prenuptial agreement and how it can help them. While these agreements may not be the right thing for everyone, they can provide valuable protection for people entering a marriage under certain circumstances. Although one may not want to enter a marriage planning ahead for its possible dissolution, it is sensible and can help protect one or both of the spouses.

What older people should know about divorce

According to Pew research, the divorce rate for those 50 and older has doubled since 1990. In many cases, Texas residents who are ending their marriages will have an attorney to help them navigate the process of doing so. However, it may also be a good idea to have a financial adviser on a divorce team as well. A financial adviser will likely be able to help with potential challenges arising from the passage of the 2017 Tax Cuts and Job Act, or TCJA.

How to choose between settlement and litigation in divorce

When people in Texas are going through a divorce, they might try to negotiate an agreement for child custody or property division. However, they may be unable to reach an agreement, or one spouse might simply be uncooperative. It could be necessary to decide whether to settle or to continue on to negotiation.