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September 2013 Archives

Wednesday, April 26, 2017

Filing for Texas divorce and bankruptcy can be challenging

Given the fact that the primary issue most couples argue about is money, it should come as little surprise that financial strife and separations often go hand in hand. However, if a Texas divorce takes place at the same time as the couple is declaring bankruptcy, it can add a new level of challenge to an already difficult situation. Thankfully there are some ways to simplify the process.

Determining division of marital assets in Texas divorce difficult

One of the most challenging aspects of the dissolution of a relationship is determining what will happen to the couple's assets. This is particularly true of engagement rings, given the amount of money people often spend on these pieces of jewelry. Those entertaining the possibility of a Texas divorce should enter the process with full knowledge of their rights and responsibilities under state law as it pertains to the division of physical assets.

Texas divorce can be smoother if both spouses are prepared

Preparedness is a key element to making any separation smoother and more equitable for both parties. Texas divorce is often a difficult transition for both spouses, so many experts suggest that each individual determines what he or she wants out of the separation agreement before approaching the negotiation table. This can go a long way toward ensuring a relatively quick and painless divorce process.

Texas divorce more prominent even for long-standing marriages

Ideally, marriage is a union meant to last forever, but of course that is not always the case in reality. Texas divorce, like divorce across the United States, is how half of all marriages end, but it has long been assumed that marriages lasting ten or more years have gotten over the "hump" and will last a lifetime. Now, experts say, even that time-honored belief is being called into question.

Texas divorce can cost more than one might think

Everyone knows divorce can be an expensive process, between division of assets and legal fees. But those about to embark on a Texas divorce might wish to consider the farther-reaching implications of the fiscal sacrifices associated with a separation. Especially for those coming from high-income households, the long-term effects of divorce might be more involved than an average Texan realizes.