A former Texas lieutenant governor is facing a lawsuit by his ex-wife alleging that he has failed to repay her $6.7 million in personal and business loans she made to him during their marriage, as designated in their 2016 divorce agreement. She also says that he owes her millions in unpaid alimony.
Children with parents who have alcohol abuse issues can suffer from behavioral problems, depression and anxiety. Alcoholic parents too often fail to care for their children properly. At worst, they can be neglectful or even abusive.
Younger married couples are more likely to keep their money in separate accounts than older ones are. That's one of the findings of a recent Bank of America survey. Some 28% of Millennial spouses report that they have separate accounts. They're more than twice as likely to have separate accounts as baby boomers and even Gen Xers.
Written in collaboration with Tuck.com
Financial anxiety and disagreements over money are among the primary causes of marital problems. In a study last year by Northwestern Mutual, over 40% of the 2,000 people surveyed said that financial anxiety impacted their marriage or relationship with their significant other.
It's been less than three months since Amazon founder Jeff Bezos and his wife announced that they were divorcing. As we noted on this blog, the announcement caused some nervousness among Amazon shareholders and people who work for his many other business enterprises.
Splitting up credit cards and credit card debt may not be your top priority as you go through your divorce. However, these things need to be done carefully to protect your credit rating and allow you to have the credit available that you need moving forward.
Many marriages come to an end, but not always in a destructive or financially draining manner. Some couples realize that their relationships are simply not built to last. They decide to end the marriage as quickly as possible. Those who do not have complex assets or custody issues may be able to file for an uncontested divorce, which is typically less costly and finalizes more quickly.
Here in Texas, we have many residents who build lives in the community after immigrating to the United States, often marrying citizens in the process. Of course, these marriages are just as likely to face divorce as any other marriage, and when the relationship ends it often impacts the immigrant spouse in ways that citizens simply never encounter.
When a couple chooses to get married, their assets and liabilities also get married, so to speak, unless the couple uses a prenuptial agreement to protect themselves and their property from potential legal issues. Here in Texas, our community property guidelines make divorce much more complicated in some cases, because couples must divide their marital property equally, without much flexibility.