It is likely that as young, star-crossed lovers you did not sign a prenuptial agreement. It is very common, and a hindrance for divorcing business owners. This is especially true for business owners in Texas. Texas is one of the small set of states that are considered community property states. This means that any assets acquired during marriage are considered "community property" between you both. This includes your business.
We start off our long-term relationships with the best of intentions. Marriages are meant to last forever and mortgages are designed to end in full home ownership after 30 years. Both of these commitments can end prematurely, of course.You can sell your house, for instance, and relieve yourself of a mortgage that way. Some unfortunate people wind up losing their homes because of financial difficulties, and some even pay off their 30-year loans early. With marriage, the early end is typically in divorce, of course. A recent Forbes article described how those two kinds of long-term commitments - marriage and mortgage - can be linked.
Deciding on child custody is often one of the most contentious pieces for divorcing couples with children. Each spouse desperately wants to make sure their child is properly cared for and each may have opposing views on the other's parenting. Typically, each parent also wants to make sure quality time with the children is fair and equal.
Divorce is typically not a split second decision. Rather, people tend to think about the possibility of divorce and if this is something they really want to go through for quite some time before actually filing.