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Dealing with issues in Texas divorce

Monday, July 16, 2018

While it is true that virtually no one enters a marriage expecting it to end, it can be helpful for both parties to recognize this as a potential, given that about half of all American marriages result in a subsequent divorce. Those familiar with Texas divorce can attest that many pitfalls exist for those who do not fully understand their rights and responsibilities in a divorce situation. The following are some common mistakes divorcing couples make and how to avoid them.

Paperwork plays a large role in any divorce, which is likely not a surprise. What is surprising is the number of people who come to the negotiating table lacking critical documentation. If both parties come prepared with full financial information, including marital assets and debts, it can help to smooth the process moving forward.

On the topic of finances, the IRS is an unspoken player in any divorce, as taxes can shift profoundly in a divorce situation. The transfer of assets, including real property, can be influenced in a major way by a potential tax due the IRS. This is why keeping track of tax information can be critical in ensuring a relatively smooth divorce process. 

Ultimately, pre-planning is the hallmark of many a successful Texas divorce. It has been said that knowledge is power, and this is particularly true of a situation in which so much information must be accrued in order to ensure a just settlement. Of course, such a settlement is in the best interests of both parties, who doubtless wish to move on with their independent lives secure in the knowledge that they were treated fairly in their divorce and according to applicable laws. 

Source: The Huffington Post, "7 Common Mistakes to Avoid in Divorce or Separation", Cheryl and Joe Dillon, Oct. 28, 2014

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