Divorces necessitate that Texas couples account for all of their assets, which may be easy to do when it only involves real estate or bank accounts. However, it can be more complicated when investments like stock portfolios are taken into account. Unfortunately, while both spouses in some couples have about an equal understanding of their finances, not all spouses are intimately involved with making investment choices during the marriage.
Every once in a while, a bill comes before the Texas legislature that attempts to modify divorce laws. Sometimes these potential changes come from activities in the courts, nationwide legislation or constitutional issues.
Going through a divorce can involve many emotions. Not only is it difficult to separate from someone who you may have been married to for a substantial period of time, but there is also the overwhelming task of dividing marital property. Distributing possessions and assets that have been accumulated during years of marriage can be difficult, especially when you or your spouse have developed an attachment to certain items. There may also be a need to get as many finances possible in order to prosper in the future. This need may result in one party hiding or stashing property and/or assets, so they will not be available for division in the divorce settlement.
When you make your way through a Texas divorce, chances are, you want to do everything you can to make sure you wind up with your fair share in the split. Regrettably, however, some spouses will do everything in their power to shield assets from their former partners, and others simply have no idea how to assess the value of certain assets. For these reasons, many Texas residents involved in divorces are turning to forensic accountants for help.
If you and your spouse own a Texas family business and are contemplating divorce, your business likely represents the majority of your marital assets. Consequently, how you “split up” your business will greatly impact your respective post-divorce lives.
If you and your spouse are like most high-asset Texas couples, you probably own several things that you believe to be valuable antiques. If you divorce, the value of these things could account for a large part of your marital property and therefore become important with regard to your property settlement agreement.
If you and your spouse are going through a high-asset divorce in Texas, and if you acquired a significant amount of artwork during your marriage, you may want to know how you can ensure the divorce judge divides that artwork fairly between the two of you. While many people assume that the most reliable valuations come from humans, the NAEPC Journal of Estate and Tax Planning suggests that digital tools offer the most reliable results.
When it comes to safely escaping from an abusive marriage, a great deal of emphasis is placed on domestic violence. It’s true that violence can threaten the safety of abused spouses and children. However, emotional violence should not be discounted. You and other Texas residents in unhappy marriages should understand what constitutes emotional and psychological abuse, as well as the long-lasting effects.
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.