When it comes to divorce, there are often numerous decisions that need to be made. Financial and property division decisions can be some of the most significant for the Texas individual. These decisions often affect the individual in both the long and short term.
Raising children is an expensive venture. For the single custodial parent, every dollar can be important. In most instances, the Texas parent expects to receive assistance in the form of child support; however, there are times when this becomes an issue. Unfortunately, not all parents recognize the importance of doing their part to take care of their children.
While negotiating a divorce, Texas parents often take great care in making sure that they do what is best for their children. They look at where the child should live and provide opportunities for the child to stay connected to the other parent. Yet, one area that can easily be overlooked is how the divorce will affect the child's future education. The divorce agreement and child custody can play a role in the financial aspects related to the child and college.
Roses and diamond rings are symbols of love and one's future together. But, roses die and the shiny diamond can lose its sparkle. While these symbols often remind the Texas couple of the love they share, they should also remind them that the future can be uncertain, and they need to plan for what may lay ahead. In some cases, it may be wise to consider a prenuptial agreement as a part of planning for the future.
As 2018 begins to wind down, the implications of the tax law passed earlier in the year are nearing reality. The impact of the law on alimony and child support in Texas is considerable. Changes include child dependency exemptions, the child tax credit and how 529 college accounts are handled. All of this may result in couples who are considering divorce to carefully consider their options.