People who are entering into marriage may have every intention of staying married for life. However, even after 30 years of marriage, people are filing for divorce for different various, including irreconcilable differences. For some people, the marriage bond does not become stronger with time, but rather dissipates as couples change and gradually become independent of one another. The growing trend of gray divorce is used to explain why an increased number of people over the age of 50 are divorcing, even after years of marriage.
When going through a divorce, there are a myriad of issues to finalize, including property division, child custody, alimony payments and child support. One of the most overlooked issues, however, may be that of updating beneficiary forms and other important financial documents. Many people become so involved in negotiating other terms of the settlement that they often forget how crucial it is that these documents get revised to reflect new beneficiaries. Failing to update these forms may mean that the ex-spouse receives the benefits in the case a death should occur.
Going through a divorce in Texas can often be daunting. While there are many difficult topics to discuss, one of the most overwhelming may be that of property division. You may find it difficult to separate property that you have accumulated throughout years of marriage. Before you finalize your divorce settlement, however, it is important to ensure you fully understand all of the items that are eligible for division.
Many people in Texas and across the United States believe that once they have been married for 20 years or more, they have survived the hardest challenges of marriage and are safe from the threat of divorce. The truth is, however, that the number of people who are filing for divorce over the age of 50 has gradually increased over the past few decades. The trend known as gray divorce is becoming more common as couples who have been married for over 30 years are deciding to terminate their marriage.
If you and your spouse are a reasonably high-asset Texas couple contemplating divorce, both of you likely are concerned about how the court will divide your assets if you cannot reach a property settlement agreement on your own. Naturally each of you wants to retain the most assets possible, but you may suspect that your spouse is trying to hide assets so as to skew the division in his or her favor. Asset hiding has gone on for decades, but today’s technology makes it easier than ever to do. Are you familiar with Bitcoin?
If you and your spouse are a Texas couple seeking a divorce, you may not know about the acceptance of benefits doctrine. It could, however, become an important aspect of your divorce and its aftermath.
Dividing a once-shared life is tough. Furniture, homes, vehicles and a multitude of other tangible goods have to split equally between the separating parties. But what happens when the two continue to share one significant asset - the family business? Texas couples should set themselves up for success as much as possible when first establishing a company.
If you are among the many people across Texas who are heading toward divorce, you probably have a lot on your plate. Even the least-acrimonious divorces can prove difficult, time-consuming and emotionally taxing, but divorce can prove to be even more so if you are the only person in your marriage who wants it. So, what can you do if you served your spouse with divorce papers, but he or she refuses to acknowledge or sign them?
If you are going to be ending your marriage, there are many different questions that you might have, such as how splitting up with your spouse will affect your kids or what will happen to the family home. However, bringing your marriage to an end may have a wide range of financial effects on your life, whether you need to pay spousal support or child support, are worried about how the courts will split up marital property, or are worried about how relocation will affect your ability to work. Moreover, you could have concerns about your estate and it is vital to understand the importance of asset protection during the divorce process.
People frequently think of many challenges when divorce comes up, such as how the custody of children will be arranged, who will receive certain types of marital property, and the amount of child support or spousal support that will need to be paid. However, it is important to bear in mind that ending a marriage can affect couples in other ways. For example, you may find that splitting up with your spouse has affected your career. It is essential to do what you can to prevent your divorce from creating other challenges in life and be prepared for various issues you may face.