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How Texas treats community property during divorce

Whether it's outfitting the family home with new furniture or making investments, the average married couple in Texas probably end up amassing much more community property than they might realize. If a couple decides to divorce, all that community property has to be divided up. This can feel like a daunting task when someone sits down to evaluate just which property is community. Here is some guidance provided by Texas state law.

Don't let financial fears hold you back from divorce

Living in an unhappy marriage can take a toll on a person's emotional health and well-being. When most people realize that their marriages are no longer working, they usually consider the next logical step -- divorce. However, like with all major decisions, a person who is thinking about divorce should understand the future financial implications of this action. This is especially true for Texas residents who are in or near retirement.

Why expecting parents should be thinking about divorce

Married couples will face plenty of stressful events over the years. However, few may expect one of the biggest sources of stress to also come from one of the biggest sources of joy -- having a child. The reality is that any source of significant stress can contribute to divorce, so expecting parents in Texas may want to consider the benefits of a postnuptial agreement.

Are you prepared for divorce? Millennials are

Millennials tend to get a bad rap for everything from where they choose to eat to how they pursue careers. However, they just might be having a positive impact on how people view Texas family law. This generation understands that prenuptial agreements are not just for the wealthy, and they are ready to protect themselves from the possibility of divorce.

Divorce and socioeconomic status could be linked

A person's socioeconomic status can affect many different aspects of his or her life. Most people already know that living in a different income bracket or class can mean different opportunities for things like education and jobs, but it could also influence a person's satisfaction in his or her marriage. In some situations, it could even lead to a divorce.

Don't believe these common divorce myths

It is easy to find out information on ending a marriage from friends, relatives or even movies. However, finding accurate information may be much more difficult. This is because myths about divorce are a common problem in Texas, and they may make it more difficult to make fully informed decisions during the process.

Prenuptial agreements protect separate property during divorce

Marriage looks a lot different than it did just 10 years ago. Young adults in Texas are putting off tying the knot for longer periods of time, and many have a different outlook on marriage and divorce than their parents. This includes prenuptial agreements, which are far less controversial than they used to be.

Some parents delay divorce because of financial stress

Money is a big source of stress in marriage. Unfortunately, money is also a big hurdle for divorce. Many people in Texas stay in unhappy marriages because they are worried they will not have any financial stability in the future. While anyone can feel this way, the problem tends to affect more women than men.

Is it realistic to keep the house after divorce?

Buying a house is a significant investment for Texas couples, both financially and emotionally. This can make dividing this property during divorce particularly difficult. For those who are hoping to keep the family home during property division, here are a few things to keep in mind.

How to find tax benefits in divorce

In the past, people could deduct any alimony they paid from their taxes. Although recipients were taxed on received alimony, this arrangement generally resulted in less taxes being paid overall, which helped payers afford higher monthly alimony payments. Changes to the tax laws have made it so that people can no longer deduct any alimony payments. This means that a couple going through a divorce may have to look elsewhere to find tax savings.

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