Over the course of a marriage, it is not uncommon for a couple to build up credit card debt. Life happens and it can get expensive. Unfortunately, whether you live in Texas or elsewhere if you are pursuing a divorce, credit card debt can be a significant problem.
Ending a marriage is always a challenging process, and some say the higher the value of the assets involved, the more complex the divorce. Along with the emotional and logistical difficulties, determining the best time to file for a divorce can be tough. Certain life events can have an adverse impact on your finances if they happen concurrently with a divorce.
Keeping proper records related to retirement funds and beneficiaries is important because if you are in your late 40s, you may already have several different retirement plans of which you must keep track. If you are going through a divorce, there might be significant amounts at stake, and your financial future could be in jeopardy if the division of retirement accounts is improperly handled.
Divorce is a difficult choice, and if you feel daunted by the emotional and financial challenges that can come with the end of a marriage, you may want to consider the benefits of an uncontested divorce. This option is generally available to couples who are able to resolve disputes and issues without the intervention of the court.
It's not unreasonable to expect a certain amount of anger from your spouse after you ask for a divorce. While a great deal of divorce is about finances, assets and possessions, it is hard to deny the emotional aspect.
Years ago, divorces were frowned upon and not nearly as prevalent as now. However, times have changed, and you likely know several people who are divorced -- your parents may even be divorced. Furthermore, the media, TV and internet are full of celebrity divorce news. However, even with so many people going through divorces, every case is different because the dynamics of every family are unique. If you are considering a divorce, it may help to know what a divorce can do for you, and what it cannot do.
Divorce will bring significant economic challenges for both parties, and it is critical to consider all of the factors that may affect one's financial health in the future. While many people have concerns regarding the division of marital property and financial support, it is also beneficial to consider the distribution of marital debt.
If you are 50 or older and moving toward a divorce, it is likely that you have asked yourself this question. Divorce at any age will have a significant financial impact, but it is particularly complicated for those close to retirement. Since the financial matters at stake in what is known as a "gray divorce" could have an impact in the immediate future, you need an experienced, aggressive Texas attorney by your side.
News broke this week that Angelina Jolie had filed for divorce from Brad Pitt after two years of marriage and over a decade of being together. At first, an affair, drinking and drug use were publicized as the reason for the split. But then celebrity gossip site TMZ reported that Pitt was investigated for alleged child abuse.
The emotional stress of a divorce often takes front seat in the minds of those going through it. Under these circumstances, it's easy to give thinking about finances and the financial implications a divorce a lower priority. But especially in a divorce with many shared assets, getting finances in order can help you be happier and less stressed in the long-run.