Who gets the house? How will the investment accounts be divided? How much will be paid in alimony? There are numerous financial decisions that the Texas couple must make when they become embroiled in a high net worth divorce.
People going through a divorce where a lot is at stake financially are likely thinking about one thing in that respect -- protecting their assets. There are many issues surrounding a complex divorce, but the primary contentious one seems to be finances. There are a few things Texas residents who are in the throes of divorce might consider doing to keep from losing most of their assets.
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.
During a marital breakup, for whatever reasons, one parent may wish to opt out of his or her children's lives. Texas law makes that doable by having that parent relinquish his or her parental rights. This might happen when it comes to deciding child custody in the event of divorce. Parents may be able to terminate their parental rights of their own accord or a court will terminate those rights when it believes it is in the best interests of the child.