Did You And Your Spouse Become Financial Foes In Divorce?

On Behalf of Steele Law Firm PLLC | Nov 20, 2017 | Blog

Texas residents are not immune to the various types of stresses and problems that often arise during the divorce process. If you recently navigated the system and it left you in a financial crisis, you may relate to that statement on a very personal level. Regardless which spouse filed for divorce, you likely understood at the time that the whole process was going to cost you money. In fact, if more people knew how to avoid the potential finance-related pitfalls of divorce, there might be an increase in amicable settlements.

Financial disputes are often key factors of contentious courtroom debates. Perhaps you are one of many who wound up in divorce court because of unresolved financial disagreements in your marriage. You may be able to overcome financial obstacles in divorce or at least rebound from problems that may arise if you research what options are available ahead of time and set up a strong support network to help you through the tough times.

Major topics of financial disagreements in divorce

You must resolve many issues before obtaining a divorce decree. Certain topics tend to involve financial issues. The following list includes topics that are often central to financial disputes in divorce:

• Likely one of the most common problems related to finances in divorce has to do with children. Depending on where they live, who will pay child support and all the day-to-day living expenses, as well as unexpected issues, your financially stable situation may take a nosedive, especially if you and your former spouse disagree.
• In addition to child support, alimony issues may affect your finances, too. Whether you’re the one the court orders to pay alimony or you need it but are not receiving it, things may get a whole lot worse before they get better.
• Texas is a community property state, meaning marital property will be divided 50/50 in divorce. Perhaps you believe you may get the short end of the stick because of hidden assets or some other problems. It may take a long time to rectify your financial situation.

Hopefully, you can access options to nip financial issues in the bud before things get out of hand. If you are currently facing a post-divorce financial crisis, you are definitely not the first person to wind up in such circumstances, nor will you be the last. In the meantime, if you know where to seek assistance, you may have solutions waiting for you just around the bend.