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Divorce Archives

Should you file for bankruptcy before your divorce?

If you and your spouse agree that the best course of action for your relationship is divorce, then prepare your wallet for the accompanying financial obstacles. Divorces can be as expensive as the two parties allow them to be. If you think some of the issues on the table may run up the legal fees and court costs, your divorce may make it impossible to meet your debt obligations. (Remember, no matter who holds the credit cards and loans, debt is also considered marital "property" and will be equitably divided among both spouses.) Filing for bankruptcy may be the right option before you file for divorce. 

Ah, the old hidden asset trick

We're all familiar with the quote, "Desperate times call for desperate measures," and if you're in the middle of a nasty divorce battle, you can relate all the more. So what happens when you have the sinking feeling that your spouse is trying to hide certain assets or parts of their income from you? If you've discovered a receipt for a purchase you don't recognize, don't have any access to bank statements each month, or your spouse is getting especially defensive during discussions about money, maybe it's time to dig a little deeper into your financial situation and make sure all assets are accounted for.

Why does my personal property become marital property?

Texas is one of several states classified as a "community property state." That doesn't mean the entire population of Texas has access to your belongings whenever it so desires. Community property is just another term for marital property, assets owned jointly by a married couple. This means all of the stuff accumulated during the time you and your spouse are married equally belongs to both of you in the event of divorce.

How you can benefit from a post-nuptial agreement

Now that we're more familiar with what a reasonable prenuptial agreement looks like, let's take a look at what a postnuptial agreement is. This kind of legal document is similar to a prenup, except instead of creating it prior to marriage, a postnuptial agreement is deliberated during marriage--or if the couple is not married, a civil union. Postnups are a relatively new creation, only recently established in the 1970s. Though they are gaining more traction and popularity now amongst married couples, postnups may be trickier to uphold in a courtroom setting than the traditional prenup.

Will your prenuptial agreement hold up in court?

A prenup is a premarital agreement a couple creates to dictate what will happen to both spouse's assets in the event of a divorce. With a whopping 50 percent of marriages ending in divorce, a prenuptial agreement seems like a great idea to protect property and financial worth.

Wife sanctioned $150,000 in Texas divorce

Texas is a no-fault divorce state, which means that a spouse can ask a court for a divorce without a fault-based reason such as adultery or abuse. It also means that the other spouse's consent is not needed.

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