Executives and business owners are not exempt from the perils of real life, love and loss. Divorce can reach its tendrils into any marriage, regardless of how wealthy, poor, educated, or how in love a couple once was. Texas executives and business owners may want to take extra caution to safeguard their financial future should a dissolution of nuptials appear on the horizon, as a complex divorce could be time-consuming and expensive.
The excitement of courtship and pending nuptials can have many Texas couples caught up in a whirlwind of emotions and tasks. Picking the perfect venue and sampling the tastiest of cakes and entrees sometimes overshadows some of the seemingly small items on a very long to do list. One item that many couples overlook is the prenuptial agreement, as many see prenups as something only the wealthy do. To the contrary, a prenuptial agreement not only keeps the boundaries of individual finances before marriage well outlined, the contract also stipulates what other important assets each future spouse brings to the union.
When a Texas marriage ends, kids are often left in the uncertain clutches of a child custody dispute. In some cases, adults are able to mutually work out a schedule that fits the needs of each party involved and allows for the children to have access and spend time with both mom and dad. In some cases, one parent may not be mentally, financially or physically able to care for or attend to the needs of his or her kids. In extreme cases, a parent who has been found unfit to remain as a positive figure in their children's lives may have his or her child custody rights taken away or significantly limited.
A marital break up can be a hard life situation to go through. The dissolution of a family unit is never easy, and the emotional stress can take a severe toll on the separating parties. Divorce and separation can also bring on financial pain, especially for partners who are not used to or have never had the responsibility of handling the couple's finances. Texas couples who are poised for a separation or have recently parted ways will likely want to focus on protecting their financial assets.