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Posts tagged "divorce"

New tax laws may affect couples who divorce

Texas couples may choose to end their marriage for a variety of reasons. Much like each marriage, every divorce is unique. Some divorcing couples may find the process to be straightforward, while others may find it a bit more complicated. Recently, new laws have changed the way alimony will be taxed. 

Common-law marriage and divorce

These days, the notion of a common-law marriage can seem a bit antiquated. However, in a handful of states, including Texas, this type of marriage still exists. The rules of common-law marriage can vary from state to state. Individuals in a recognized common-law marriage may still find themselves eventually in need of a divorce. In that case, the couple must still undergo the usual divorce proceedings.

Gray divorce impacts men and women differently

More and more people are choosing to end their marriages later in life. Although divorce rates overall have declined, a certain sub-group of individuals, those over 50, have increased their rates of marital breakups. This phenomenon happens often enough that some researchers have begun to study the effects of what is known as gray divorce. For individuals in Texas who may be considering ending a marriage, the research may be useful. 

Divorce can sometimes be avoided by a postnuptial agreement

The beginning of the year in Texas and elsewhere is traditionally the busiest time of the year for new divorce filings. Some couples, however, do not get out of the starting blocks due to inertia, not wanting to rock the boat, financial interdependence, a desire to maintain stability for the children and a host of other considerations. There are options to divorce in cases where the facts may support legal innovations.

Tips on preparing for divorce

It has been said that the first part of the year is peak season for marital breakups. After the holidays can be a stressful time for couples, with one in five couples being ready to call it quits after the holiday season. One study shows that divorces peak in the United States in March and August, so it appears that couples are also tempted to end it at a few particular points of the year. A person in Texas facing a divorce, no matter what time of the year, may be wondering what steps can be taken to prepare for an upcoming divorce. 

Author shares tips for divorce preparation

Ready to untie the knot? In Texas, many individuals choose to end their marriage for a variety of reasons. These individuals may be thinking of methods to make the transition a little smoother. After observing many divorcing couples in a variety of circumstances, advisors offer some tips for individuals preparing for a divorce

Even divorce has hidden blessings

Life is all in what one makes of it. One's attitude can determine whether an event is a blessing or a curse, and when people choose to see the positive side of any change, they can set themselves up for a happier life. Even divorce has its upside, as a recent news article shows. Individuals in Texas may find some helpful hints from the article for shaping an attitude of gratitude for divorce. 

Tax reform could change alimony

A federal tax reform bill is currently in the works that will make significant changes to existing tax policy. One of those changes is the elimination of the alimony tax deduction. If that change passes into law, experts say that it will drastically affect how divorce agreements are settled. Individuals in Texas who may be facing a divorce could potentially be affected if the divorce is finalized after 2017. 

Kendu Isaacs claims he's owed more alimony

Spousal support is a point of contention in many Texas divorces. While there are state guidelines for determining an appropriate amount of alimony, judges do have the ability to deviate when necessary. This might sometimes be done at the judge's own discretion or because of one spouse's request. Such is apparently the case with Kendu Isaacs, music producer and Mary J. Blige's ex-husband.

Texas: Divorce may have tax implications

The end of a marriage does not have to mean the beginning of tax confusion as long as an individual stays informed about the law. After a divorce, a person's taxes can be affected by the filing status, exemptions and alimony. Individuals in Texas who may be facing a divorce may be able to glean some information from a recent article sharing some of the ins and outs of post-marriage tax filing.