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What divorce looks like in a world with cryptocurrencies

Cryptocurrencies have allowed some Texas investors to accumulate a relatively large amount of wealth from a relatively small initial stake. The very nature of cryptocurrencies makes hiding all of this wealth easy. Understandably, this can be a problem when going through the divorce process.

Gray divorce can be difficult for older couples

Throughout Texas and the rest of the U.S., more and more spouses over age 50 are choosing to separate. These gray divorces account for approximately 25 percent of legal splits. However, getting a gray divorce after experiencing a lengthy marriage presents challenges to both spouses. Lengthy marriages often involve greater difficulties when attempting to determine who owns various assets. Some couples spend years battling their convictions in court.

Social media and texting may benefit kids with divorced parents

Most parents in Texas are aware that kids love to text and use social media to communicate. They may also be hesitant about allowing them to do so. However, a new study suggests staying connected in this way may help children deal with divorce more effectively when one of their parents no longer live in the family home. Even though it's believed divorced parents' ability to get along post-split determines how kids cope with divorce, researchers discovered parental contact was even more important.

Financial mistakes that are common in a divorce

When couples in Texas are going through a divorce, there are a number of common mistakes they should try to avoid. One of those errors is failing to get paperwork in order. This might include Social Security statements showing the earning of both spouses, information on what was paid for various assets, account numbers and home improvement receipts. Some of this paperwork may be helpful after the divorce as well. For example, if the couple has been married for at least 10 years, one spouse might be able to draw Social Security retirement benefits on the other spouse's income.

Ranking common factors that contribute to the end of a marriage

Couples in Texas planning to exchange vows can take comfort in knowing that fewer people are ending their marriages these days. Even so, having a better understanding of the common reasons for divorce may help some married couples avoid potential pitfalls that could doom their relationships. In order to rank divorce-related factors, researchers interviewed couples who parted ways several years after completing a prevention and relationship enhancement program before they were wed.

The rise in divorce among older adults

While divorce rates are steady or have dropped for most age groups, it is on the rise for people 50 and over. These divorces are not just between people in shorter second marriages. Older people in Texas who have been married for decades may be more likely to divorce than in previous generations.

Even students may benefit from a prenup

When people in Texas think about prenuptial agreements, they may consider them to be matters for celebrities or the ultra-wealthy. However, prenups have benefits for many couples, even those who are just starting out in life. Many people think of prenuptial agreements as documents that benefit only the wealthier, more powerful party, but a properly constructed prenup can include provisions that provide important protections for both spouses, not only one at the expense of the other.

Financial planning for post-divorce life

When spouses get divorced in Texas, it might take them a while to grasp the property division process. Some wealthier couples may already have planners who have helped them with family financial issues in the past. However, it's generally wiser for a soon-to-be ex to get their own financial advising team.

Divorce risk higher when couples are physically mismatched

Some Texas men prefer to pursue relationships with women more physically attractive than themselves. While there is nothing wrong with this particular preference, research suggests couples in physically mismatched marriages may be more likely to call it quits. This is the primary takeaway from various studies on relationships involving notable differences in physical appearance between spouses, especially when it's the man who is marrying a more attractive partner.

What to do about a business in a divorce

When a Texas business owner gets a divorce, the other spouse may be able to claim an interest in half of the company. Most of the property that either person acquires during the marriage will be considered shared marital property; although, that does not necessarily mean a business will be split 50/50 between divorcing spouses. If the business was started before the marriage, the amount it has increased in value is usually the portion that's considered marital property.

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Law Office of B. Diane Heindel, P.C.