Dividing property in a divorce is rarely a simple process, and dealing with a house is no exception. If one person in Texas plans to buy out a spouse and keep the home, there are several considerations to keep in mind.
Ending a Texas marriage usually results in financial challenges as former spouses rebuild their individual lives. People who once shared incomes and expenses must live off single incomes while sometimes paying debts and new expenses like child support. Careful budgeting and lifestyle adjustments typically help people make the transition, but they must give particular attention to health insurance, tax filing status and building credit.
When a Texas couple is going through a divorce, there are still questions that remain. One of the major things that still needs to be decided is where to live during the process. This is a matter of emotional, financial and practical balance. The three primary options for most people are to stay in the family home, buy a new one or rent a place to live.
Texas couples who were once brought together over a deep romantic connection may find that their relationship turns sour over the years, leading to bitterness and even hatred. In some cases, this can manifest in bitter fights during a divorce. Spouses may battle over their wealth and assets, with each party making a case for why he or she deserves more. These battles may be especially pronounced for couples who have accumulated a significant amount of wealth over time. Unfortunately, a drawn-out process can deplete the wealth held by both parties. However, some spouses may resort to unethical methods in an attempt to claim a greater share of property in the divorce.
Among the main reasons that some Texas coupled are getting a divorce are a lack of communication, a decline in trust or simply growing apart. These were among the reasons cited in a study that appeared in the Journal of Sex & Marital Therapy, prompting researchers to speculate that people are increasingly seeking emotional fulfillment in marriage. In fact, they point out that emotional and psychological reasons may have overtaken behavioral reasons, such as addiction, in prompting divorce.
People in Texas who spend more time on social media might have unhappier marriages. This was the finding of a Boston University study that found a link between social media usage and the quality of marriages. While married and even when contemplating divorce, people should avoid posting negative things about a spouse online. They may want to consider reviewing past posts and privacy settings. They may also want to remove people from the contacts list who are likely to cause problems.
In Texas and across the United States, divorced parents do not always make the same child support payments. In fact, payments vary sharply depending on the state in which the divorced parent resides. For instance, a parent living in one of the Rocky Mountain states pays the lowest child support payments. However, a parent living in the Northeast pays the highest payments. Furthermore, some state laws do not count the divorced mother's income. Child support payments are $100 higher in these states.
Running a business as a married couple is no walk in the park. Owning and running a Texas business can be extremely stressful, even if the business is successful. However, trying to run a successful business while the marriage is falling apart can be even more frustrating, especially if the former couple can no longer work together amicably. At this point, former couples may have to decide if they can continue to run the business together or if one person needs to leave.
If the wife is the breadwinner in a marriage, it could put a strain on the relationship. In some cases, a relationship may be doomed before a couple is even able to get married if a woman makes more than her significant other. This is in spite of the fact that 38% of wives make more than their husbands according to data from the Bureau of Labor Statistics.
When going through a divorce, many people are focused on more immediate concerns regarding things like finances and child rearing. This means that potential retirement issues are not given much thought, but divorce can take a toll on retirement assets even if a couple is still relatively young. Texas residents might like to know about some retirement accounts to think about during a divorce.