El Paso residents who are getting married or who have already tied the knot might be concerned about having a different attitude toward debt than their future spouse. A prenuptial agreement or, for people who are already married, a postnuptial agreement, may help protect one spouse from the other's debts. While creditors may still pursue people for their spouse's debt, a pre- or postnup puts a framework in place that allows them to have the spouse pay them back.
Some El Paso couples who are getting a divorce might not realize that they need a document known as a Qualified Domestic Relations Order in order to divide a retirement account. This is a complex document and process, and individuals who rush through this process might find that they end up paying more in fees and taxes than they expected. People might want to visit a certified divorce financial analyst that can help them and their attorney understand the financial implications of the document.
Paso parents who fail to pay child support and who leave the state in order to avoid it may be punished under a 1998 federal law called the Deadbeat Parents Punishment Act. In addition to leaving the state, in order to be prosecuted under DPPA, parents must not have made child support payments in over a year and must owe upwards of $5,000 or they must not have made payments in more than two years and must owe over $10,000.
Children are often hit very hard by divorces, but much of the emotional damage can be mitigated by the way that parents handle themselves during the process. Some of the ways that Texas parents can reduce the blow of splitting up include picking a good time to tell the kids about it and providing stability for them.
For some Texas couples, the idea of signing a prenuptial agreement prior to getting married is seen as a red flag. However, this document can protect both individuals should they divorce later in life or if one spouse becomes incapacitated and cannot make decisions or dies.
Considering the amount of preparation that goes into a wedding, a divorce deserves the same attention, as it will determine the post-divorce lifestyles of both spouses and any children they may have. As with any major experience in your life, preparing for your divorce may significantly lessen your level of stress and allow you to enter a new episode of your life on a stable financial and emotional basis.
Most Texas parents want to spend as much time with their children as possible. However, a new study finds that fathers who are delinquent on their child support payments are less likely to see their kids. The study was published in the Journal of Marriage and Family in February.
A divorce can be especially damaging to a family business. Most business assets will be considered marital property unless certain legal actions are taken to prevent it. This may result in a business needing to be sold off. In community property states like Texas, a business is especially vulnerable. However, there are several legal steps a spouse can take to protect a family business.
Many Texas couples want to have children. For some, the route includes in vitro fertilization. However, in some cases the marriage might come to an end before the parents choose to implant the embryos created during the IVF process. In those cases, the question about what happens to the embryos after a divorce may arise.
Post-holiday divorces are common in Texas, and one of the first decisions that often needs to be made is what to do with the family home. The situation can be stressful, so it can be helpful to have neutral, non-emotional information on hand when making the decision.