One small Texas town has gained notoriety for the increased number of divorces that are occurring there. That this and other small towns in the area are seeing an increase in divorces may be due in part to the economy.
Individuals put off seeking a divorce during poorer economic times, but the rate may then suddenly go up after we see an economic bump. And though agriculture has been languishing as of late in the state, what we have been seeing in many small Texas towns is an energy boom where individuals are suddenly coming into a great deal more in assets.
The changeover from agriculture to energy may have resulted in changed employment and increased tension among families. For oilfield workers, work schedules are particularly erratic, and the lifestyle of oil workers is significantly different than for farmers. In any case, the reason why the divorce rate has gone up will require study.
But individuals currently facing divorce will require legal advice and counsel from experienced family law attorneys. Most divorces have a level of complexity to begin with, but the complications are even greater when couples have come into a great deal of money in the process. Most individuals simply do not have the knowledge to handle divorces by themselves – let alone deal with complex property division questions that accompany a divorce.
Couples will need the help of someone that understands Texas divorce law, understands the tax implications that come about because of divorce and various asset divisions, can assist in long term financial plans, and can negotiate settlements regarding alimony, divorce and marital property.
Source: Midland Reporter-Telegram, “Gusher of Texas oil-patch divorces leads breakup trend,” by Frank Bass, Jan. 2, 2013
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