Divorce rates for individuals over the age of 50 has nearly doubled since the 1990's, and has roughly tripled for those aged 65 and older. In 2010, roughly 25% of divorces in Texas and throughout the country involved people within that age range. Ending a marriage at a later age can have a variety of emotional and financial impacts that shouldn't be ignored.
On September 1st hundreds of new laws went into effect in Texas, including laws that raise the legal smoking age from 18 to 21 and laws that allow women to pump breast milk anywhere they want. But the question we all want to know is: What laws went into effect that may affect me?
Spouses in Texas who are getting divorced should consider certain steps to protect their financial interests. These steps range from creating a post-divorce budget to changing passwords when needed to understanding what the divorce is likely to cost and how that cost will be paid.
Divorce is often a painful process, and that is understandable. It involves many complex emotions and some of the most difficult decisions a person must make. For that reason, many spouses want it to go quickly and be over with as fast as possible.
Parents who are ending their marriage understandably worry about how the divorce will affect their children and what they can do to ensure they protect and support them during and after the divorce process. Successfully co-parenting together can be one of the most valuable tools in ensuring those goals. When the parents are actively working to help their children build trusting, positive relationships with both parents, eventual stepparents and peers, then everyone benefits.
After years of living in the same home and growing accustomed to your surroundings within the community, the thought of parting with a home may seem daunting. While you might be perfectly content with staying in the home, some circumstances in life may leave you facing a difficult decision.
According to research, student loan debts may cause problems other than just accumulating massive debt. As is common with financial struggles in general, a heavy student loan debt load can create a lot of stress in a marriage relationship. Researchers have known for years that money problems, such as debt, causes stress in marital relationships. However, the most recent study shows that student debts are more harmful in that regard than other types of financial obligations. The Student Loan Hero study found that 33% of student borrowers believed their divorces were caused by money problems, with 1 out of every 8 students blaming his or her student loans for causing marital issues leading to divorce.
Graduation season is upon us. I am preparing to launch my firstborn from high school into the next phase of his life. It is an exciting time.
The majority of Texas residents who claim dependents on their tax returns will not experience any complications with having their returns accepted. However, complications can arise in situations in which multiple taxpayers claim the same dependents and related tax credits, such as when separated or divorced parents both decide to report their children as dependents. When this occurs, the Internal Revenue Service will have to review the returns in question and determine which claim should be honored.