Texas couples who are preparing to bring their marriage to a close have multiple options on how to complete the divorce process. Each path has advantages and disadvantages, and spouses must choose the approach that is best in line with their interests. When a divorce will include complex property division, it is critical to select an approach that allows for an emphasis on dividing marital wealth.
Once the end is in sight, many Texas servicemembers are excited to move on with their lives and gain a fresh start. It is important to understand, however, that there are certain military divorce issues that can present problems long after the papers have been signed and filed. Life insurance is one example and is something that should be addressed directly within the divorce agreement.
Deciding what to do with the family home is an important consideration in many Texas divorce cases. For many couples, their home is their most valuable asset. Making wise choices is critical to both parties involved in a military divorce, and it makes sense to look at all available options during property division negotiations.
When a Texas couple is nearing the end of their marriage, both spouses can sometimes lose focus on the full range of things that need to be accomplished. The process of negotiating a complex property division settlement can be draining, and once it is complete some spouses simply check out. It is imperative to understand that the manner in which various property division transactions are handled can be just as important as the negotiation itself.
One Texas state Representative is pushing hard to end no-fault divorce in the state. Representative Matt Krause believes that when couples have a clear path to divorce, they fail to take steps to try and save their marriages. In order to force couples to slow down and give their union a full and fair evaluation, Krause proposes removing no-fault divorce from state law. For many in Texas, that could make complex property division issues even more difficult to manage.
Most Texas residents are aware that a prenutptial agreement can serve to protect their assets during a divorce. However, few are aware of the full scope of that protection. Specifically, a prenup can protect assets that are brought into a marriage, and it can protect the ideas of one party. That can be very important during a military divorce.
As Texas residents age, many turn their focus to how they will fund their retirement years. In the case of those who have gone through divorce, additional financial pressures may make it challenging to retire as planned. The following statistics on divorce and retirement come from a wide range of sources, but all underscore the importance of making wise decisions both during and after a Texas divorce. When it comes to planning for the future, the division of retirement benefits is just the beginning.
In the months leading up to divorce, many Texas residents have a long list of to-do items. Making a thorough assessment of marital wealth should have a prominent place on that list. That said, it is important to avoid moving assets in advance of a military divorce. Doing so can be misconstrued as an effort to deplete marital wealth.
The concept of collaborative divorce has grown in popularity over the past decade, and it has become something of a divorce trend as of late. Many Texas spouses want to end their marriage on good terms with their soon-to-be ex, and choose to work together to resolve the issues within their military divorce. Some will even choose to use one attorney to handle the entire process, rather than each party retaining his or her own legal counsel.
For those in Texas who are preparing to divorce, figuring out the financial aspects of that process can be an uphill battle. This is especially true for those who have taken a backseat to managing the family's finances. During the course of a military divorce, there are a great many decisions to be made regarding money matters, and the outcome of those decisions will have a lasting impact on all parties. Fortunately, there is professional guidance available to help spouses make the best possible decisions. Known as Certified Divorce Financial Analysts, or CDFAs, these professionals are well-versed in all of the financial aspects of divorce.