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Posts tagged "divorce"

Considering a prenup when remarrying

Many people in Texas choose to marry for a second or third time after a divorce. Of course, financial issues are a significant contributor to marital problems and even separations. People may want to learn from their earlier mistakes when planning for a second marriage. At the same time, people want to form new romantic relationships: 40% of marriages involve people who have been married at least once in the past. In many cases, these are older couples who have also accumulated significant assets of their own over the years.

Preparation can make a divorce easier to get through

The summer months are traditional spent enjoy the sun, grilling food and spending time with family. However, for Texas residents and others, the summer can also be a time during which they are more likely to get divorced. According to a study done by researchers at the University of Washington, August is one of the top months for couples to get divorced. Others say that September is also another busy month for couples looking to end their marriages.

How the Social Security Administration deals with divorce

Spouses in Texas and around the country who earn very little may be entitled to receive Social Security retirement benefits based on the incomes earned and the contributions made by their husbands or wives, and these benefits are often still available to them even when their marriages end in a divorce. Divorced spouses are entitled to these benefits if they were married for 10 or more years, have not remarried, and their former spouses are eligible to receive Social Security retirement benefits.

Income considerations for alimony and child support

When couples in Texas opt to end a marriage, alimony or child support may be part of the settlement agreement. When this is the case, judges generally have some leeway when determining the specific amount to be paid. While there are variations with state laws concerning alimony and child support, courts generally consider certain types of income when making payment determinations.

Some of the most common silent relationship killers

There are many reasons why couples in Texas get divorced. While issues like infidelity and lying could have an immediate effect, there are more insidious issues that arise slowly over time. It is good for couples to be aware of silent relationship killers before it's too late for either individual to do anything about them.

Shared custody cases are on the increase in family law.

Many in El Paso, Texas might not expect the area of parenting time in family law cases as an area of change, but it is. Since the 70's there is a different perspective on how courts and parents view the issue of child custody and visitation. Though the best interest of the child remains the overriding concern, courts often look differently at what constitutes the best interest.

Divorce and mortgage assumption or refinancing

One decision Texas couples who are getting a divorce may have to make is who will get the family home. Once the decision is made, there is still more work ahead if one spouse is going to be removed from the joint mortgage. While it also possible for both parties to remain on the mortgage, this puts the non-occupant at risk of a serious dent in credit scores if a mortgage payment is missed.

Divorce and claiming dependents

Texas parents who are divorced or separated can claim their kids as dependents on tax returns. This can lead to several valuable tax benefits, such as the Earned Income Tax Credit, the Child Tax Credit and the Child and the Dependent Care Tax Credit. However, if more than one person claims the same dependent on their tax returns, complications can arise and the Internal Revenue Service will have to decide who can claim the dependents.

Using a prenup to protect a business in a divorce

A prenuptial agreement, or postnuptial for couples who are already married, can be a way for business owners in Texas to protect their enterprises if they get divorced. Some people may worry that these documents are ways to cheat a spouse out of a rightful share of marital property, but this is not necessarily the case. Instead, this agreement allows a couple to make decisions about how to divide property in an atmosphere that is less contentious than a divorce would be. A pre- or postnup can make the divorce process less difficult.

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