One of the many matters than may need to be determined when a couple in the state of Texas decides to divorce, is whether alimony will be awarded. While there may have been a time when a stay-at-home spouse could expect to automatically be awarded spousal support, in addition to child support, this is no longer the case. Though it is possible that either gender could seek alimony, throughout the nation in 2010, 97 percent of the 400,000 individuals who received alimony were women.
While it is true that some couples in the state of Texas who are divorcing are able to do so using the collaborative approach, for a variety of reasons this is not always a possibility and a case may need to go to court to be sorted out. One situation in which this could be true is when a couple has a complex financial portfolio.
As a result of the nature of a complex portfolio it can be difficult to divide during a divorce. Assets that may need to be divided in a situation such as this one include:
If you are planning to divorce there are likely many things you are concerned about. While some divorces are acrimonious there is not a rule that requires that this is the way it has to be. For couples who are interested in ending their marriage in an amicable manner, collaborative law may be the way to go.
There are other reasons that this approach may be desirable to divorcing couples. One reason is that is takes less time. In addition it often ends up costing much less financially.
There are many things that need to be taken care of before most people marry. For those who are having a wedding with a party, the weeks and months leading up to the ceremony are usually full of tasks related to party planning. For some couples, other things are addressed as well such as how the relationship will change following the ceremony including who will perform certain chores and how finances will be handled.
A prenuptial agreement may be a part of what is discussed before marriage.
A divorce is more than just the end of a marriage. It is also the beginning of the next part of each spouse’s life. Accordingly, when a couple decides to divorce it is not uncommon for each spouse to hire a lawyer to help to guide them through the process. Since each spouse arguably has a lot on the line, particularly where financial matters are concerned, this is widely considered to be a wise approach.
As every couple is different, when divorcing it makes sense that the assets to be divided will vary from couple to couple. In some cases, in addition to the assets commonly held by couples, such as houses and cars, divorcing couples have artwork. Determining who will get the pieces, whether they are paintings, drawings or sculptures, can at times be a long and complicated process.
There are at least two factors at play in these situations. In addition to the sometimes great financial value of a piece, spouses may have developed an emotional attachment as well. To make this process go as smoothly as possible, there are a couple things that someone who is divorcing can do.
The decision to end a marriage is not one that most people take lightly. While ending a relationship is difficult on its own, attending to related matters such as child custody, child support, spousal support and the division of assets and debts, takes it to another level. Though all divorces have the potential to be complex, when a family business is involved it is almost certainly the case.
When it comes to dividing assets in the course of a divorce in the state of Texas, as a community property state, the assets will be divided in a manner that is just and right. Perhaps the only thing more important in that process than how the assets are divided is accounting for all of the assets that should be included in what is distributed to each spouse.
Many people spend great amounts of time planning for their wedding. Making sure even the smallest details are addressed is time consuming. Since for many this is the biggest event of their life that is not surprising. What may be surprising to readers is that for the best possible outcome in a divorce, it is usually beneficial to put a great amount of planning into it as well. Because according to the National Center for Health Statistics, throughout the nation, approximately 40 percent of all marriages end in divorce, this is something people should be aware of.
When it comes to entering into a prenuptial agreement there are many reasons why someone might hesitate. For some, the knowledge that it most likely would be challenged should a divorce occur is one of those reasons. Individuals leaning away from entering into a prenuptial agreement for that reason may want to reconsider. This is because while prenups may be challenged on a fairly regular basis, due in large part to the Uniform Prenuptial Agreement Act, the success rate for those challenges is fairly low.
For most people the decision to divorce is not one that is made overnight. It usually follows months, and maybe even years, of trying to make the relationship with one’s spouse work, sometimes even leading to a separation. During that period of time while working for the best, it may be a good idea to at the same time, plan for the worst.
For many who are divorcing the most important matter to be addressed is the way in which the assets of the marriage will be distributed. Because of this, during a separation it is important to gather information regarding exactly what your family’s assets are. Depending on the circumstances this may not be as easy as one might assume. For example, a spouse might try to hide assets in anticipation of the marriage ending. In situations such as these working with a forensic accountant can be beneficial.