The decision to end a marriage in divorce can be a difficult one, even when the reasons are justifiable. Cruelty, adultery, a felony conviction, abandonment or time spent in a mental facility are all legitimate arguments for divorce. There was a time when Texas residents had to be able to prove in court that their spouse was "at fault" by one of these actions in order to attain a divorce. But that all changed in 1970 when the "no fault" divorce became law.
The majority of family law cases in Texas and elsewhere have a number of similarities: two parties are struggling to determine the details of the end of their marriage, including matters of child custody or the division of marital assets. In certain cases, however, the issues at hand are less common, and the court is tasked with making difficult decisions. An example is found in the case of a man who was recently told that he cannot file for divorce from his wife.
When many Texas residents prepare to end their marriage, they take an approach that is informed by the advice of friends and family, as well as what they have learned from television and the movies. They sometimes overlook information that comes from the legal community, perhaps in the belief that attorneys are only concerned with how much money they can bill for their services. In reality, however, most divorce attorneys are sincerely concerned about the well-being of their clients, and want to be helpful in guiding them through child custody, property division and any other divorce matters.
Being wealthy does not make a person less romantic, and affluent Texas residents typically have the same expectations of their marriages lasting forever as do those with fewer assets. The only difference is that if you, as a wealthy person, decide to go your separate way, the property division process will likely be more complicated, and a high level of contention can exacerbate the trauma and stress.
The fact that not all married couples live happily ever after is sad but true. People in Texas who are considering divorce will likely find that there is no shortage of advice. However, no two marriages or divorces are the same, and the issues needing consideration depend on the unique dynamics of the couple. Many of these considerations vary according to the age of those getting divorced.
Often times divorcing men and women think about what is most important to them and what they want in assets from the divorce. It is also important to think about what assets are taxable. If one spouse receives all of the assets that are taxable, they could be losing a lot of money to tax payments.
Even after extensive media coverage of computer and email hacking, many Texas residents still believe that they are able to permanently remove information from their computer or other device simply by hitting the "delete" button. That can come back to bite them during a divorce, when many spouses take an aggressive approach toward mining for information during property division. Understanding how digital data is stored and potentially retrieved is critical to some spouses.
The end of a marriage is a complex legal process, no matter the age and financial status of the parties involved. However, divorce for couples later in life requires special consideration of certain financial matters that are especially pertinent for an individual who is nearing retirement. Texas readers may know that the divorce rates are decreasing overall, but the number of people ages 50 and up choosing divorce is increasing.
Divorce can be difficult and emotional for both parties. The division of assets however, is often what starts most arguments and court battles. It is important to know what you're entitled to and most importantly, why you are entitled to certain assets, specifically the diamond ring.
When a celebrity couple decides to end their marriage, it typically involves complicated financial matters, such as royalty rights, division of multiple properties and much more. While the issues that are present in a high asset divorce are much more visible when celebrities are involved, many wealthy couples are able to quietly navigate the legal process without unnecessary drama. It is possible to negotiate a settlement that is financially beneficial, even when it involves a large amount of money.