McKinney Divorce Law Blog

Many Texas residents, especially those considering marriage, or those who are already married, may be familiar with common issues that need to be discussed before two lives become a shared one. A prenuptial agreement is commonly defined as a contract in contemplation of marriage concerning the ownership of their respective assets should the marriage come to an end. In the past, these agreements generally indicated hammering out ownership of physical assets, such as property or finances. This is still the case, but with an added twist for the Facebook generation.

Many people participate in the arena known as social media on a daily basis. With so many online communities to connect on, social media has become an integrated part of countless lives and relationships. While it may not seem like a serious matter, in recent years it has been proven that the use of social media is not always a subject agreed upon by both parties in a marriage. 

There are several contributing factors that may lead to a more complicated divorce. Significant assets, difficult exes and age can make reaching an agreeable divorce settlement difficult, and may even drag on proceedings for longer than either party is happy with. Complex property division might be especially troublesome for those older than 50.

The phenomenon of gray divorce -- seeking a divorce after the age of 50 -- is not necessarily new, but it is certainly more noticeable than it was in the past. This is partly due to the number of individuals in this age group. In 2010, nearly 100 million people in Texas and across the rest of the United States fell into the age range of 50 and up, while two decades before this group totaled a mere 63.5 million. People now live longer on average, too. With the higher number of people in this age group and longer life expectancy, it is no real surprise that the number of gray divorces has gone up.

Many Texas couples who are expecting a child have much to look forward to. Even if those expecting children are not married, they usually still experience the same joy and excitement married couples feel when they welcome a newborn into the world. What should be a time of excitement and expectations can also raise questions when the mother of the child has not been entirely honest or faithful regarding the paternity of the child. Paternity fraud, whether intentional or not, can be damaging to the child and the father figure involved, and it can create issues with regards to child custody and child support.

Statistically, 1 in 10 children are not biologically related to the man that they think is their father. Mothers may be promiscuous or find themselves in an extramarital affair, and the timing of conception can come to question. When multiple partners are present, the chance remains that the true paternity of the child is not definitive, and a paternity test should be performed.

When the word "marriage" begins to become a mainstay in conversations for young Texas couples, the bliss and excitement can often outweigh the serious need to talk about finances, both present and future. The very idea of sharing everything with a person one feels is his or her soulmate could cloud honest truths that can lead to financial and emotional disaster later down the road. Speaking with one's betrothed about money, assets and the idea of a prenuptial agreement may be a wise choice to helping couples develop a closer bond and preserving the couples' financial future should a divorce loom on the horizon.

A wealth educator in another state has instituted a program that is spreading across the country. The program offers couples an ice breaker with regard to discussing finances and emotions that are tied to money. This opportunity allows couples a six month to a year-long course that offers worksheets, homework and open discussions to explore the dynamics of money and how it is treated by each intended spouse.