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Montgomery County Family Law Blog

Specific steps may help to make divorce easier

Ending a marriage in Texas is sometimes necessary if two spouses cannot resolve their differences. Fortunately, divorce does not always have to be a hostile process. Here are some important steps to take to make the divorce process as easy as possible.

For starters, evaluating one's personal finances is a smart move prior to moving forward with the divorce process. The reason for this is that marital debts and assets must both be apportioned as part of the divorce proceeding. Because Texas is a community property state, these assets and liabilities are typically divided down the middle, or 50/50.

Financial analyst, accountant may help during divorce

The process of getting divorced can be an arduous journey, not only emotionally but also financially. This is especially true for affluent individuals in Texas who have complex marital estates. In this situation, it may be helpful to enlist the help of an accountant or financial advisor, along with a financial analyst who has experience dealing with divorce situations.

For starters, those who are getting divorced may want to touch base with their financial advisors or accountants, as these professionals can help them to understand their past tax situations as well as their current ones. They can additionally provide updates on their portfolio values and holdings. In addition, these individuals may help them to value the additional marital assets that they have accumulated.

Divorce and marriage are both impacted by social media

Platforms like Facebook have become major staples of daily life across the United States, including in Texas. As a result, it may come as no surprise that these social media tools are impacting people's marriages as well as their divorce processes. Here is a peek at the impacts of social media on marital unions and dissolutions.

Researchers recently reported that, when it comes to marriage, social media has a way of pulling spouses apart. This is because focusing too much on these media platforms causes people to ignore the activities needed to keep marriages intact, like communicating over a meal. In some situations, fights even erupt due to one partner's excessive use of social media.

Co-parenting after divorce doesn't have to be exasperating

A common challenge following the dissolution of a marriage involving young children is navigating the co-parenting journey. This can be challenging even in relationships that start out relatively amicable following divorce. Here are some tips for making the co-parenting journey a positive one in Texas.

For starters, it is important that individuals respect the other parent following divorce. This is critical even if the other party is not exactly being responsible and respectful. Setting aside differences will help to avoid a blame game, which can damage the co-parenting relationship.

The dangers of moving out when you file for divorce with kids

Going through a Texas divorce with children can be substantially more complicated than a divorce without kids. Not only do you have to worry about custody issues and child support, but you must also do your best to protect your children from the emotional damage that divorce can often cause.

While you may want space between you and your ex once one of you files for divorce, you need to carefully consider if moving out now could cause issues for your divorce in the future. What initially starts as a way to clear your mind and end inter-spousal conflict can wind up influencing the outcome of the divorce process.

Desire to save money may spark divorce among high earners

Many individuals in Texas and elsewhere decide to get divorced due to irreconcilable differences. For instance, perhaps the two parties are constantly in conflict regarding how they spend their money. However, in some cases, the goal of saving money is the driving force behind a divorce.

Legislation that made its debut in 2018 subjects high earners to what is called a marriage penalty. This penalty is essentially greater tax liability for high-income couples who file jointly. These individuals, who make upwards of $612,000 per year, fall within the tax bracket of 37%.

Prenup may provide protection during a business owner divorce

The marital dissolution process can understandably be overwhelming both emotionally and financially for any individual. However, a business owner divorce can be especially stressful due to the high-value assets that are likely involved. In light of this, it may behoove any business owner in Texas to draft a prenuptial agreement before getting married.

According to research, the quantity of people developing prenuptial agreements, or prenups, is on the rise. These agreements essentially explain how two people who are planning to get married would like to deal with their assets in the event that they end up getting divorced. For example, they can list what their separate property and liabilities are so that these assets and debts do not have to be split in a divorce situation.

Tips to help make divorce proceedings less acrimonious

The end of a marriage can have a profound effect on one's emotions and finances, and no two divprces are exactly the same. However, being proactive may help to make getting divorced an easier process in light of the circumstances. Here are a couple of things in particular that individuals can do to mitigate the ill effects of divorce in Texas.

When the divorce process begins, it is critical that those going through it stay focused on that which is in their control. They cannot predict with 100% accuracy how their soon-to-be exes will act in various situations, but they can control their own reactions. If children are involved, their best interests should ideally be what guides a parent's decision-making, no matter how difficult a future ex may become.

Late-in-life divorce can impact finances in major way

The process of getting divorced in Texas can have a massive impact on an individual's finances. However, the effects of divorce are generally even greater for those who are near retirement. The reason for this is that funds that were initially meant to cover one household for retirement must now cover two households.

During a divorce that happens later in life, called a gray divorce, it is paramount that both spouses have a strong grasp of their finances. Only then will they be able to determine how much they can spend each month following the divorce versus before the divorce. In addition, it is important that a person who is getting divorced later in life fully assess whether it would be in his or her best interest to give up retirement assets in exchange for keeping the marital home.

Are you ready to play a more active role in your kids' lives?

For many parents who have already gone through a difficult divorce, the change to the relationship with their children is the hardest part of moving on with their lives. It is unusual for Texas courts to award sole custody to one parent over the other in modern divorces.

Shared custody arrangements are more common because the courts want to create a solution that works in the best interest of the children. Having the love and support of both parents is usually what is best for the kids, even if it does create more strain on the parents.

Vernier & Associates, PLLC Vernier & Associates, PLLC

Vernier & Associates, PLLC
2441 High Timbers Drive Suite 110
The Woodlands, TX 77380

Phone: 281-882-3271
Fax: 832-585-0955

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