There are certain personality traits that could increase the likelihood that a Texas couple will get a divorce. For example, a person who is narcissistic is likely to struggle to remain in a relationship. Narcissists often see themselves as victims and refuse to take responsibility in any conflict.
It's often said that everything is bigger in Texas, and this could soon apply to the cost of divorce if child support and alimony are involved. In addition to reducing the limit for the Alternative Minimum Tax (AMT) and lowering federal tax rates, the Tax Cuts and Jobs Act (TCJA) also affects exemptions and other tax-related matters that typically apply to payments given to either the lower-earning spouse to compensate for joint income loss or the party who will be the custodial parent.
Many people in El Paso file for divorce every year. There are many well-known factors that contribute to the likelihood of getting divorce, such as frequent arguments and financial problems. The type of career a person chooses can even make an impact on whether or not a person is likely to get divorced.
From depression to anxiety to insomnia and even symptoms of post-traumatic stress disorder, divorce can lead to a lot of health issues. Such ailments might be particularly pronounced for ex-spouses age 50 and older in Texas. The chronic stress may worsen a number of medical conditions, including heart disease, high blood pressure and diabetes.
While marriage certainly shouldn't be considered as a business proposition, people should realize that the act of marriage creates a legally binding contract between the two spouses. No Texas business owner is ever considered anything but wise by planning for the possibility of an exit strategy, but somehow, the prospective spouse who presents a prenup is often met with resistance from the other party or family member.
The new school year brings an opportunity for parents in Texas to set new goals and expectations with their children. For divorced parents, this might mean putting aside their differences and working together as much as possible to provide support and stability for their children.
Couples who choose to get divorced when they are older may have a retirement account such as 401k or an IRA to divide in the process. However, even if a Texas couple splits amicably, it is necessary to allocate the funds within the account properly. Otherwise, it could result in an unnecessary tax hit or otherwise jeopardize an individual's financial situation. If a 401k is being divided, it must be done under the terms of a qualified domestic relations order (QDRO).
Because of debt or because of having many assets, millennials in El Paso who are getting married might want a prenuptial agreement. According to a survey by the American Association of Matrimonial Lawyers, there has been a rise in the number of millennials seeking them.
Women in Texas who are considering getting a divorce should be aware of how the process can impact them financially. Out of 1,785 divorced women who participated in a recently released survey, 46 percent stated that their divorce had resulted in unexpected and undesired financial issues.
When a Texas couple decides to end their marriage, they could enter a time-consuming legal process. A divorce involves three stages: It begins with filing paperwork, moves on to discovery that primarily requires a disclosure of financial records and then concludes with disposition. Disposition might result from the parties negotiating the terms of their split through mediation or collaborative divorce, but it could require a court trial, where a judge makes final decisions. Organization, goal setting and a realistic evaluation of finances and the needs of children will benefit people entering this process.