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October 2016 Archives

Divorce late in life could result in poverty

A divorce for Texas residents who are nearing retirement age might leave them in poverty as they age. Bowling Green State University's National Center for Family & Marriage Research found that the number of people over the age of 50 getting a divorce doubled in the twenty years between 1990 and 2010. This may be one reason that of people older than 65, around 20 percent are still working.

Divorce and money

The end of a marriage is often a difficult time. When Texas couples divorce, there are a number of issues that they will need to resolve at a time when emotions are running high. One significant concern is that of money and property division.

Dealing with divorce demands

When a Texas couple gets divorced, one party may be entitled to the marital home, alimony and child support. He or she may also be entitled to half of the current value of any retirement account that was started or appreciated in value during the marriage. However, neither party is obligated to agree to the demands of the other without a formal court order.

Financial issues that may lead to marital problems

For couples in Texas and throughout the country, differences over money is one of the main causes of divorce. First marriages end in divorce almost half the time, and it is even more likely in second and third marriages. By discussing money matters prior to marriage, people might be able to reduce the chance that arguments over finances will land them in court.

Dealing with the primary residence in a Texas divorce

Texas and other states with community property laws require family law judges to divide marital property equally, and this may lead them to order a divorcing couple to sell their primary residence and split the proceeds evenly. Spouses who wish to avoid this fate may claim that the residence concerned is separate and not marital property if they owned it prior to getting married, but these claims may not withstand judicial scrutiny if marital income has been used to cover running expenses and other overhead costs.

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Bruce Turner

In addition to his law degree, Bruce Turner has a master's degree in tax law and is Board Certified in Commercial Real Estate Law by the Texas Board of Legal Specialization.

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Turner, Bruce E.
1603 Lyndon B. Johnson Freeway Suite 280
Dallas, TX 75234

Phone: 800-486-9553
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Bruce Turner with Bennett, Weston LaJone & Turner, P.C.

Attorney Bruce Turner is located in Dallas and represents people and businesses throughout DFW and the Metroplex, including Denton, Carrollton, Lewisville, Flower Mound, Farmers Branch, Irving, Las Colinas, Corinth, Highland Village, The Colony, Plano, Frisco, Allen, McKinney, Mesquite, Grand Prairie, Garland and Grapevine as well as Collin County, Denton County and Dallas County in Texas.

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