Texas residents may be interested in some common mistakes that many spouses make when getting a divorce. Because of a failure to see long-term issues, many of these serious financial errors can come back to haunt a person later in life.
Posts tagged "spousal support"
One thing that many Texas couples whose marriages are breaking down are concerned about is whether a divorce will be expensive. Issues related to spousal support and property division are the ones that typically cause the most problems for divorcing couples.
Texas residents who are seeking a divorce may be interested in some information on the process for an uncontested divorce. Though this is simpler than a traditional divorce, failure to follow the rules and correctly file the appropriate forms could make the process ineffective.
The last step of formalizing a Texas divorce is the final court hearing. The person filing the divorce may choose to appear before a jury or a judge. When there is complete consensus between the two divorcing partners as to property distribution, the disposition of debt and any support payments for the spouse or child, then the petitioner in the divorce may appear before a judge with all necessary paperwork provided in triplicate and obtain a final divorce decree in relatively little time.
Texas investors familiar may be interested to learn that Kenneth Griffin, the founder of the investment company Citadel LLC, filed for divorce in Chicago on July 23, citing an irretrievable breakdown. Griffin, 45, and his wife, 43, have been married for 11 years. They have three children, all under six years of age. According to an index published by Bloomberg, Kenneth Griffin's net worth is approximately $5.6 billion.
Couples in Texas who are considering divorce must also think about how doing so will affect their financial situation. Individuals may think that they will be required to pay alimony or that they will be able to support themselves using alimony, but these laws have changed over the past two decades.