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High Asset Divorce Archives

Separate versus community property, alimony major divorce issues

Dissolving a marriage can be stressful from both an emotional and a financial standpoint. Regarding finances, a tricky area in Texas may involve trying to figure out what is separate versus community property. However, the financial challenges of divorce can be particularly overwhelming for the spouse who earned significantly less than the other party or perhaps did not earn money at all. This is where alimony comes in following divorce.

Separate versus community property handled differently in Texas

With nearly 40 to 50 percent of marriages ending in divorce, it probably does not come as a surprise that some spouses break up and find themselves with a financial mess on their hands. After all, just as spouses end up accumulating assets together during the course of the marriage, they also accumulate debt. Determining what is separate versus community, or shared, property during the property division process in Texas can understandably be challenging.

Managing retirement accounts, emotions can be hard during divorce

When it comes the dissolution of a marriage, becoming overwhelmed both financially and emotionally is easy. This is true not only during the divorce proceeding but also once the divorce has been finalized. A couple of tips may help with navigating these challenges, ranging from managing one's feelings to managing one's retirement accounts, when going through the divorce process in Texas.

Wise investing with retirement accounts, other assets is critical

A marital breakup in Texas can be a challenging experience emotionally, but it can be just as hard financially. This is particularly true for those who do not have many assets or high-net-worth assets, including funds in their retirement accounts. A couple of tips may help with navigating these issues in the aftermath of a divorce.

Separate versus community property: Home may spark conflict

One of the most difficult decisions to make when going through a divorce in Texas is what to do about the marital home. After all, the home is often the most valuable asset in a divorce as the parties sort through what is separate versus community property. In some cases, fighting to keep and stay in the home may make the most sense.

Splitting assets such as retirement accounts can get dicey

Staying married to the same person long term sometimes is impossible due to irreconcilable differences. However, getting through a divorce can sometimes feel like an impossible feat at the start as well. A couple of tips may help individuals in Texas who are dealing with divorce issues, such as the division of money in retirement accounts, to navigate the process effectively.

Dividing assets, like retirement accounts, may be unavoidable

Many couples in Texas and elsewhere are struggling with their marriages but are simultaneously trying to make their marriages work. However, in some cases, divorce is inevitable, in which case, spouses must tackle issues such as the division of retirement accounts and other assets. Here are a few signs that getting divorced is a smart move.

Settlement agreement can cover retirement accounts, other assets

Negotiating with a future ex-spouse on a settlement agreement in Texas may seem like an arduous mountain hike. However, the process does not have to be difficult. A couple of tips may help with negotiating divorce settlements, especially when dealing with retirement accounts or other potentially high-value assets.

Child custody, splitting of retirement accounts can be complex

With the holidays soon in the rearview mirror, some couples in Texas are ready to zoom ahead to divorce court. In fact, the first Monday in the month of January is often known as Divorce Day in the legal world. A few tips may help those going through divorce to be prepared for the multifaceted process, which may range from dividing retirement accounts to deciding about child custody.

Update beneficiary designation on retirement accounts

People experience many changes in their lives as they grow and mature. Often, there are marriages and children and plans for the future, but there could also be divorce and remarriage. A change in marital status can have a huge impact on a person's life. While many remember to update essential documents such as wills after a divorce, they forget about retirement accounts and what will happen in the event of their death. In Texas and many other states, retirement accounts are not considered part of an estate and may not be included in the provisions of a will.

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Sugar Land, TX 77479

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