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Risk factors for getting a divorce

Although most Texas couples get married with the intent to stay happily married for the rest of their lives, the fact is that about half of all marriages end in divorce. While there is never 100 percent certainty that a couple will get a divorce, there are several risk factors that have been identified.

When a marriage must end in divorce

Some people in Texas might be struggling with whether or not they should get a divorce. Although this is a hard decision, some situations may mean the marriage can no longer continue. For example, a spouse might become abusive. This abuse may not always be physical. It can be emotional or verbal, but a person might not always recognize the extent of the abuse. Some people may only realize that they need to get a divorce when the other parent turns the abuse toward the children.

Avoiding financial mistakes during a divorce

Texas couples who are seeking a divorce might want to have the process over with as fast as possible. However, they might also want to make sure they understand the possible consequences each of their financial decisions might have. This might help them avoid some mistakes that could have a deep impact on their financial stability after the divorce has been finalized.

Protecting retirement from taxes and fees

Most divorces in Texas involve some asset division, and this process can be expensive. Retirement accounts and savings are common assets for division, so it is important that they be handled correctly. Improperly splitting retirement accounts opens them up to heavy taxes and fees that will rapidly drain their value.

Ensuring deductible alimony stays that way

When Texas couples divorce or separate, one of them often has to pay alimony to their ex. Many residents assume that the alimony will be deductible to the payee and that the receiver must report it as income. While this can be true, there are seven tax conditions that must be met for the alimony to be considered deductible, and even then, there are additional conditions that might affect what, if any amount, is actually deductible for the payee.

Making a financial plan after divorce

When a Texas couple gets a divorce, the standard of living for both might fall, but this is especially likely to happen to women. On average, the income of women is still about four-fifths that of men. One reason for this is that women are more likely to take care of children or older relatives. This means they may be available to work fewer hours, and this leads to fewer opportunities to advance their careers and save money.

Why prenuptial agreements might be smart choices

Texans may be wary when their fiancés propose that they sign prenuptial agreements. Many people think that prenuptial agreements mean that they are planning for their marriages to end in divorce, which may seem antithetical to why they are choosing to marry in the first place. There are many benefits of having such an agreement in place, however.

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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

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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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