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Divorcing after 50 may present difficult financial issues

Divorces among people who are older are on the rise. When older Texans choose to end their marriages, they may encounter some unexpected financial problems. These problems may be especially difficult to handle when there has been a power difference between the men and the women in terms of the financial decisions made during the marriages.

Divorce can be a challenging time for parents

Parents going through a divorce in Texas may often be most concerned about how the end of their marriage will affect their children. While the romantic relationship between the adults has come to an end, in many cases, both parents want to protect their kids from pain and confusion during the divorce process. While some amount of disarray and disorientation may be unavoidable, divorcing parents can work to protect their children from unnecessary pain as their marriage comes to an end.

Preparing finances for post-divorce life

Preparing for life after divorce can be a difficult and emotional task for many people in Texas who are reaching the end of their marriages. While the practical and personal consequences can be significant, some of the most difficult issues in almost any divorce center around the separation of finances. However, there are some actions that people can take to protect their assets and work towards a hopeful financial future after the divorce is final.

Federal government aims to improve child support collection

Child support enforcement efforts can be critically important for families in New Jersey trying to get by while a delinquent parent fails to pay their court-mandated child support. Because child support funds are so important to the health and well-being of children, enforcing child support orders is a significant public priority at both the state and federal levels. A number of support orders have been successfully enforced through the use of payroll withholding, when the child support payments due are directly deducted from the parent's paycheck at the workplace.

Early planning can limit divorce headaches

It may seem counterintuitive for Texas couples to think about divorce while planning a wedding, but the high divorce rates suggest that may be a pragmatic strategy for individuals with assets they'd like to protect if their marriages fail. Removing uncertainty is always good and can even help a marriage prosper by allowing couples to focus on the present more fully.

Couples over 50 face challenges in divorce

In Texas and across the United States, the past 25 years have seen the divorce rate for people over age 50 more than double, and this trend is continuing to rise. While divorce can be complex and difficult at any stage of life, carrying an array of financial, emotional and practical consequences, it can present unique challenges for people divorcing later in life after a long-term marriage. This is especially true when the couple has accumulated a significant amount of assets over the years of their marriage.

Handling finances after a divorce

Texas residents who get a divorce should be prepared for the financial issues that can arise after the divorce has been finalized. In addition to maintaining their attorney and consulting with a financial advisor, there are some other ways to make sure that their post-divorce finances do not negatively impact their livelihood.

How a prenup can be challenged and invalidated

Prenuptial agreements have many stigmas attached to them, and one of them is that the document is ironclad once signed. Many stereotypes in movies reinforce this idea, but this is actually a myth. Prenuptial agreements can be poorly written contracts that don't hold up under the scrutiny of the law, and they can certainly be invalidated -- partially or wholly -- as a result of malfeasance by one of the spouses.

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