While planning a wedding can be a large production, ending a marriage can sometimes be an even bigger event. Although it is not a happy and momentous event, it is one that requires both spouses to make serious and life altering decisions. Those going through a high asset divorce in Texas have added concerns regarding their personal wealth, especially if it comes from a family business they seek to protect from the divorce process.
How can you protect your finances in a divorce?
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Getting married is a major commitment. It is a life event that couples in Texas and elsewhere will experience when it is clear that their relationship is solid and they do not want to be with anyone else. In contrast, when it is clear that a marriage is no longer working, a couple will likely take steps to end it through divorce. Whether this has occurred months or decades after they initially tied the knot, divorcing couples will have to go through the process of ending their union. And, even when it is an amicable process, the divorcing couple will have to make serious and major decisions that will impact them.
The divorce process in Texas
Sometimes life doesn't go as planned. Two people may fall in love and get married, believing that they will be together forever. But people change and grow apart. Because of this, there is the ability to end a marriage as well. Whether it is an amicable or hostile parting, couples in Texas should familiarize themselves with the divorce process, as this can help them navigate the ups and downs of dissolution.
How are retirement assets split in a divorce?
When individuals in Texas and elsewhere get married, they are unfortunately faced with the thought that this may not work out. No one likes to think about divorce or a relationship failing, but with the divorce rate in the nation still hovering around 50 percent, it is important to consider this as a possibility. Whether a marriage has lasted only a few years or several decades, the wealth brought into the marriage as well as the wealth accumulated during the marriage needs to be addressed during the dissolution of a marriage.
Helping you find a custody plan that works for you
The end of a marriage brings about many changes. It turns a married spouse into a single individual, it causes one or both spouses to move to a new place, it results in property being divided and it causes children involved to split their time with their parents. It can be difficult on parents to go from spending all of their time with their child to only half the time or less. However, establishing a custody arrangement is necessary.
Child custody and relocation
When parents split, the dynamics of the family often change. In some cases, one parent takes on the role as custodial parent while the other parent serves as the noncustodial parent. While the noncustodial parent does not see the child or children as much, they are still part of their lives. Even though the child custody arrangement allows for frequent visitations, if a custodial parent seeks to relocate, this could cause an alteration to this arrangement.
