When it comes to supporting a child, the financial, emotional and time investment is a commitment that is not to be taken lightly. Regardless of the parents' desire to be together as a couple, the commitment to the child remains in place. When a Texas parent chooses to or cannot afford to pay child support and the court is not petitioned to modify the obligation to an affordable amount, enforcement actions are available.
The division of property and assets can be a sore spot for couples who are going through a divorce. In Texas, most assets acquired during the marriage become marital property and belong to both spouses. The exceptions to this are inheritance or gifts and personal injury settlements. These exceptions are categorized as separate property in a Texas divorce.
Planning for the future is a key component of many happy marriages. Prior to the ceremony, the happy Texas couple plans the wedding, the honeymoon and the first part of their life together. One other area in which they need to plan is their financial life. For many, the development of a prenuptial agreement is a good place to start.
When a wealthy couple in Texas divorces, everything is likely to be on a grander scale. There may be multiple houses, cars and collections to split, as well as money and investments. The more money a couple has, the more easily one spouse can hide assets from the other. This happens frequently in a high net worth divorce, and it is not unusual for one spouse to be suspicious that the other has kept something back from property division.
Divorce can cause turmoil for families both emotionally and financially. Fortunately, Texas couples considering divorce can lessen the burden by planning out their property division in the early stages. Acquiring skilled legal counsel for each spouse can also benefit couples by handling the more complex areas of divorce.