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Your business might be an issue in your divorce

Owning a business with your spouse is a life goal for many people. This is a wonderful thing, but if the marriage falls apart, the business might become an albatross around your neck. You need to think carefully about some specific points if you do realize that your marriage is heading toward divorce.

Your credit, divorce and financial future are tied together

Now that you've made the decision to divorce, you probably realize that your life is going to change in a lot of ways. Some of these ways are fairly minor, such as not wearing a wedding ring any longer. Other ways are more serious, such as having your finances turned upside down.

Do you need to worry about hidden assets in your Texas divorce?

You and your spouse at one time were willing to pledge the rest of your lives to one another. Over time, however, your circumstances changed. That love and trust may end because of the actions of one spouse, or it may have simply degraded and disappeared over time. Whatever the cause for the breakdown of your marriage, you're seriously considering divorce. However, you want to ensure that your divorce is fair, especially when it comes to the process of splitting up your possessions.

Divorce trials can be mentally and emotionally taxing

Thinking about a divorce might bring up images of a War of the Roses scenario. This type of divorce is possible, however, most divorces these days are handled through mediation and other alternative dispute resolution methods. This isn't to say that there aren't still divorce trials, because there are some cases that just can't be resolved any other way.

Is an inheritance shared property? Here's how to know

Your spouse obtained a large inheritance while you were married, and you've both enjoyed living well while having that money in the bank. He always had it in his own bank account, which wasn't a problem for you. If you wanted any money at all, he'd simply transfer it over to your bank account.

How does Texas split retirement accounts during divorce?

For many couples, asset division is the most contentious aspect of divorce other than child custody. It's relatively common for one spouse to try to hide assets to avoid sharing fairly. It's also common for one or both spouses to fight for more than a fair share of marital assets. Certain assets, like retirement accounts, are often held in only one person's name. That doesn't mean that those assets aren't still meant to be equitably divided during a divorce.

Do you need a forensic accountant for your divorce?

Divorce can make people do strange things. Sometimes, people who are planning to divorce will take steps to hide assets. They do this to keep the assets from being part of the divorce process. Sometimes, one spouse will withdraw cash and begin physically hiding it as a means of keeping it. Other times, money can be deposited in a secret or offshore hidden bank account. Sometimes, assets are hidden in plain sight, with one spouse purchasing expensive items that they intend to keep without disclosing their value during the divorce. These are just a few of the more common ways that people hide assets during divorce. Trying to account for all recent income during a divorce is very complicated.

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