Many couples may benefit from understanding more about what constitutes as grounds for divorce in their state. Texas Family Code cites seven specific scenarios that may justify the court in granting a divorce. The scenarios that qualify as grounds for divorce include insupportability, cruelty, adultery, felony convictions, abandonment, living apart or confinement in a mental hospital.
In the state of Texas, there are two different types of alimony payments. The first is contractual alimony and is a private agreement made between the parties. With this type of payment, there is no limit to the duration or amount of payments. With the contract being made between consenting adults and agreed to ahead of time by both parties, there also are not any stipulations regarding eligibility requirements.
Many citizens of Texas have had to undergo the divorce process, but the financial repercussions of the marriage do not necessarily end at the same time as the marriage. Even after the divorce decree is years old, it can be possible for an ex-spouse to be the target of collection efforts and subject to damage to their credit rating due to possible financial inaction or irresponsibility on the part of the other former partner.
Texas residents may be interested to learn that the number of couples getting divorces after the age of 50 has increased compared to 1960. Experts say that in this age group, divorcing couples may be leaving too much money unnoticed when it comes to retirement accounts.
For Texas couples about to end their marriages, it may be difficult to think of property division and the various aspects of the legal process. Though any divorce is fairly involved, some high asset divorces involve a special level of complexity. The current proceedings of director Michael Moore, for example, include the division of tens of million of dollars that he and his wife of 23 years, Kathleen Glynn, accumulated over their marriage. Moore is well-known for various documentaries, most notably "Fahrenheit 9/11". Though he is quite a bit more famous than Glynn, she produced several of his documentaries.
For some Texas residents contemplating divorce, there are questions about basic choices that are made during that process. Decisions over alimony and property, as well as retirement accounts, may best be made when a workable understanding exists.
When it comes to separating from a spouse, there are many things that any couple should take into consideration, such as the financial impact of divorce, child custody and other family legal issues. However, a high asset divorce can be even more complicated when significant fortunes are at stake. As a result, people who are preparing for a divorce in McKinney or any other part of Texas should try to closely review various aspects of family law and thoroughly prepare for separation before moving forward.
For many couples, divorce can lead to strong emotions, disagreements and considerable stress. However, those who are going through a high asset divorce may have an even more complicated separation. In McKinney, TX, people who are dealing with the end of a marriage should thoroughly review their options and do everything they can to prepare for divorce properly. From property division to child custody, there are many things that some people in this position have to consider.
When it comes to family law, a number of complications can arise when the divorce process is not approached properly. Furthermore, separating from a spouse can create a variety of family legal issues, such as child custody and spousal support. In McKinney, TX, families who have to deal with a marriage dissolution should try to evaluate their situation thoroughly, understand how state law could impact their case and find the best way to move forward. The outcome of a divorce can affect those involved for years to come and lead to various complications when certain issues, such as child support, are not addressed properly.
Issues related to money matters, including financial dishonesty and conflicting spending practices, are some of the most widely noted reasons why couples in Texas choose to end their marriages. Recent findings indicate that America’s improving economy is causing an increase in the national divorce rate.