One challenge that divorced or separated parents in El Paso might face is dealing with their own and their children's emotions during the holiday season. This can be a tough time, and feelings of sadness, loss and anger may threaten to overwhelm families. However, it is important for parents to focus on their children and set their emotions aside.
Many people in El Paso believe that prenuptial agreements are primarily for rich people who want to protect their wealth should their marriage end in divorce. The truth is that more people than ever are signing prenups for reasons other than to protect wealth.
After divorce, some ex-spouses in Texas may suddenly feel financially liberated. However, this doesn't mean they should celebrate the occasion by going on a spending spree. This is one of the many financial mistakes that recently divorced individuals commonly make.
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).