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January 2019 Archives

Financial reasons couples may want to reconsider divorce plans

Even with stats showing that about half of all marriages eventually come to an end, most couples walking down the aisle in Texas have visions of a lifetime together. Still, there are times when some life partners begin to explore the possibility of permanently separating. While there are certainly valid reasons for ending a marriage, there are also some equally valid financial reasons why couples may want to give divorce a second thought.

Retirement account division needs extra attention during divorce

When a Texas couple decides to end their marriage, they will have to split their retirement accounts as part of the divorce settlement. The splitting spouses should give careful attention to the details involved in the division and distribution of retirement accounts such as 401(k) plans, pensions and IRAs. Mistakes could result in unexpected tax bills or an ex-spouse receiving an unintended amount of money.