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Gray divorce rates climb in Texas

Although the number of younger couples divorcing is dropping, 'gray divorces," those involving individuals over the age of 50, are climbing steadily. In fact, it has doubled since the 1990s. According to data from the National Center for Health Statistics and U.S. Census Bureau, for every 1,000 married couples who were at least 50 years old, 10 divorced.

Divorce proof your business

Good business managers know how to minimize risk, but they may not realize that a marriage could represent a major risk to their business. Texas community property laws dictate that all property acquired during a marriage is owned by both spouses. This means that property is subject to asset division in the case of a divorce. Unless a couple takes certain legal steps, business assets and increases in valuation can easily become entangled in the asset division process should they divorce.

Options for dividing a home in a divorce

Many Texas couples who are getting a divorce own a house together. They have several choices as to how they can divide the home. There are also a few questions to consider as well. For example, one or the other should think about whether they want to remain in the home at all or if that would be too difficult emotionally or financially.

Understanding child custody exchanges

When child custody details are being decided as part of divorce negotiations, one of the issues that is sometimes addressed is child custody exchanges or swaps. Texas parents should understand that these environments have the potential to become highly volatile.

Issues related to gray divorce in Texas

Gray divorce is a term that refers to separating spouses who are age 50 or older. Research indicates that the rate of divorces in this age group has doubled between 1990 and 2014. Experts believe that one reason for the significant increase in gray divorces is due to the fact that there is no longer as much of a social stigma associated with divorce.

The value of prenuptial agreements for Millennials

Some Millennials in Texas may be among those who are getting prenuptial agreements in increasing numbers, according to a survey by the American Academy of Matrimonial Lawyers. Millennials may be in particular need of such agreements because they may go into marriage with both family money and wealth from startups.

Responsibility for student loan debt after marriage

Texas couples who are considering getting a divorce may already know that financial issues can be a major point of contention during the process. This also includes the allocation of a spouse's student loan debt. Having a clear understanding of what happens to student loan debt during a divorce can help both parties be better prepared if a court is making the decision.

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.

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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.
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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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