Regardless of one's marital status, one thing is certain – taxes must be paid. While this may appear to be a fairly simple concept, it can become confusing to Texas individuals who are in the midst of or just completed their divorces. In addition to all the other decisions that must be made and agreements that must be reached, the way in which spousal support is treated is an important tax consideration.
October 2016 Archives
One of the most important decisions that a divorcing Texas couple will make is the one regarding what is in the children's best interest. Should the children stay with mom, or should they stay with dad? Should the parents share joint custody or should one parent retain custody? Child custody issues can linger long after the divorce paperwork has been finalized.
It seems the only thing guaranteed these days is that there is no guarantee. Texas couples fall in love, get married, have children and plan to grow old together. Then, there is a glitch in the plan; one of the individuals decides that he or she does not want to continue down this path and suddenly asks for a divorce. Research shows that approximately 25 percent of divorces are now among couples over age 50.
The state of Texas realizes its responsibility to the children within its borders. As a result, laws are in place to protect these children, and law enforcement agencies take an active role in enforcing these laws. However, the state and law enforcement are not the only ones with a responsibility to Texas's children. First and foremost, the parents are responsible, whether it is in the form of day-to-day care or care in the form of child support payments.