millennial couple
Today, divorce is considered a basic human right. Married couples should ideally have the option to separate on the grounds of psychological incapacity, abuse of any form, and other plausible reasons. The Numbers In previous years, divorce rates were high. Around the world, there had been 5.5 divorces for every 1,000 married couples. This is more common in European countries like France, Denmark, and the United Kingdom. In the United States, 40 to 50 percent of marriages end in a split yearly. That seems to be changing. Before 2018 ended, studies have found that divorce rates are decreasing. Compared to a decade ago, young couples are said to be less likely to separate. Hence, an 18 percent dip. Why did this happen? It’s believed that young millennials are now more selective when it comes to committing to marriages. Likewise, couples are now opting to tie the knot at 27 to 30 years old—some even later in life. Millennial Trends It also means that millennial couples are now more conscious of financial stability more than ever. They want to be able to manage their expenses and also get the health benefits they’ll need as they get older. This mindset is much different from the baby boomers who married young because of the old notion that one’s peak is before 25 years old. This practicality can be seen as one of the reasons why divorce rates are now less as of recent. It’s now believed that new marriages can last longer compared to 10 years ago. It’s possible this trend will carry over into 2019. This also means that there will be fewer marriages happening this year and the next few years. Especially since cohabiting (a practice that’s usually done when one is married) is now more common among unmarried couples. There […]

How’s Divorce Looking in 2019?   Recently updated !

couple 885386 1280
Marriage is wonderful but also poses a significant risk. Tying the knot is a lifetime deal. It means sharing all your property, the ones you own now, and everything you will acquire henceforth. There seems to be a legal remedy for every possible risk nowadays. For those who want to have a safety net, they can resort to having prenuptial agreements. Reasons for Prenuptial Agreements Prenuptial agreements can cause drama– usually when there is a disparity of social class between the prospective husband and wife. However, when the prenuptial agreement is accepted, for most couples, it was nothing more than an awkward moment. In some cases, a prenuptial agreement may even be a relief.  Some of the most common concerns that lead to a prenuptial agreement are: Division of property Protection of the separation of property Increase of the value of their property during their marriage Donations Investments Income or wages There are also prenuptial agreements that would have guaranteed alimony, and conversely, agreements that both sides would not demand alimony. One of the reasons why more millennial couples are entering prenuptial agreements is that these couples enter marriage at a later age when they already have accumulated personal assets. Most of the time, the prenuptial agreement is a mutual decision, and they have actually formulated the contract together.  Checklist for Prenuptial Agreement An invalid prenuptial agreement can be stricken down. In Texas Law, they would advise couples that their prenuptial agreement would have the following components: It should be a written document; Cannot be added in the personal vows at the wedding or recorded as a video.  Requires both parties to willingly devise this agreement on their own volition.  The contents of the agreement should be fair and impartial to both parties. Drawn up in the presence of a witness […]

Why Millennials are Making Prenuptial Agreements   Recently updated !

Marriage is a union between two people who want to share their life together “for richer, for poorer.” It is common knowledge that they are to share their assets, and that is usually a pleasant discussion. However, when liabilities are the topic, specifically debt, how much accountability does a spouse have? The laws in Texas have specific guidelines with regards to the extent of responsibility you have for your spouse’s debt. Here are some factors that need to be considered: Community Property Laws One key factor to consider is that the state of Texas recognizes Community Property Laws. Thus, every property that the couple acquires or purchases is deemed community property. The exceptions are the property acquired prior to the marriage or property inherited or received as a gift to him/her alone. How does this apply to liabilities? Under typical circumstances, both spouses are equally liable for the debts incurred, regardless of whose account it was charged to. However, there are different situations which often result in different extents of liability. Divorce It is a misconception that Community property also translates into community debt. While it is true that spouses are responsible for each other, that concept is limited to “necessities.” That extends to the purpose of the debt incurred. If the debt was used to acquire necessary items like food, shelter or clothing, it is considered community debt. A credit card charge for a luxury bag, for example, may be disputed as an exception to community debt. It may not seem equitable for the spouse to be liable for that after divorce. However, there are also exceptions to this. Debts Incurred as a Couple There are instances when debt is incurred as a couple, and this agreement is recognized by the divorce court. Thus, if both spouses agree to […]

Am I Responsible for My Spouse’s Debt?

Money can easily cause arguments that can critically affect marriages. A lot of relationship conflicts involve financial problems. It is no surprise that this is one of the most prominent causes of divorce. A couple should have a serious conversation regarding finances. Establish goals, hard lines, and spending habits in order to make necessary adjustments throughout the relationship. Like in every other aspect of a relationship, communication is really the key. If particularly communicating about money can be a challenge, get help from a financial adviser. The factors below are some of the usual causes of financial problems within a marriage, among others. 1. Individuality When both spouses have a career of their own, it means they have their own earnings. This also entails busy schedules that can hinder them from having the time to talk about their finances. The easiest way for them to go is to split the bills in half or divide them in a proportionate and equitable way. Once all the bills are paid, each spouse can do whatever they want with the money they have left. This sounds like a perfect plan, however, the implication of this method often paves the way for resentment to build up over the individual expenditure made as time passes by. No communication is present so conflict on plans regarding buying properties or retirement is highly possible. This process can also lead to dishonesty or financial infidelity which is a relationship-ruining behavior as one spouse would end up hiding money from the other. 2. Liabilities From car loans to house loans; shopping spree and gambling habits— these are different types of baggage and financial baggage is definitely one of them. If one spouse has more financial liabilities than the other, or if one spouse is free from any financial obligation, this […]

Marriage and Money

emotional maturity
Emotional maturity is needed to maintain the minimum level of civility and respect for co-parenting. Going through something as difficult as divorce can be an emotional rollercoaster ride. A lot of good and bad things will be rehashed during the divorce that can cause immaturity of both parties. The parties should keep in mind that they are two consenting and mature adults when they married. It should follow that they be the same two consenting and mature adults in the divorce proceedings.  Emotional maturity varies from person to person. Each and every one of us has a different perspective of what maturity should be.  However, the following are essential things in a divorce process: Be accountable for your own thoughts, words, and actions.  Whatever you do or say matters in this situation. Emotions are all over the place and everyone is a bit more sensitive than normal. That is why it is important to be mindful and considerate. The results of hurtful and negative actions and words are not easily shrugged off even after years’ time. Own up to your points and faults in the marriage and divorce. Every situation is a two-way street. Both parties have their own points and faults. It takes two to tango so there should be no room for playing the blame game or playing the victim. It is important to acknowledge the positive and negative things you have contributed to the relationship. Own all of it.  Stop dwelling on negative thoughts and emotions.  Emotions are fleeting and they can be controlled by our own thoughts. How we deal with our emotions is up to us so challenging your thoughts to achieve the emotion you want to feel should be a practice. If things get heavier than it should be, get help, if necessary. Don’t […]

How to Deal With the Emotional Components of Divorce

postnuptial agreement
Married life can be wonderful for a lot of couples. But just like every marriage, there will always be some problems that’ll come along. Many married couples still manage to make it through and even make it out in a better place. Not all couples like to think that their marriage is going to end because of a problem or two. In fact, some couples don’t like thinking about their marriage ever coming to an end. So, does that mean you shouldn’t consider getting a postnuptial agreement? What’s a Postnuptial Agreement A postnuptial agreement is basically like your standard prenuptial agreement, except it was made after a couple’s marriage. Postnuptial agreements are made just in case the possibility of a divorce comes along during a couple’s marriage. In a postnuptial, matters such as who gets ownership over certain properties, whether there will be alimony, and asset division are some of the things that are sorted out. Postnuptial agreements focus more on the financial aspects of a couple’s marriage. Do You Need One? As much as getting a postnuptial agreement sounds pessimistic, considering that you’re planning for a divorce that might happen, it can help provide some sense of security for you and your spouse should you decide to call it quits and go your separate ways. Just keep in mind that postnuptial agreements may work out for some couples and may not for other couples. Whether or not you should get one depends entirely on what you and your spouse agree on. Sometimes, just sorting things out and talking about it with your spouse can be good enough. But if you and your spouse are the type to prepare for absolutely anything and don’t mind considering the possibility of your marriage coming to an end, then maybe a postnuptial agreement […]

Do You Need a Postnuptial Agreement?

second marriage
People always say we learn from our mistakes. It makes us wiser, stronger, or can also make us scared of certain consequences. Matters like divorce, which involve legal consequences will make us think twice again before considering another marriage.  In the Texas Family Code, the first marriage is the only valid marriage. Any succeeding marriages are void unless the first one will be terminated by divorce. Financial Pros and Cons Pros:  Life is easier when you share with someone your expenses. Investing seems to be not so difficult. Having a partner, especially when you have kids, will lighten your worries. Moreover, you become financially sensitive. You’ve learned from your previous relationship what has gone wrong and you apply it in your current situation. You learn to consider the financial needs of your partner and you also start to plan your finances together with him or her. Cons: One of the top factors affecting divorce is financial incapacity. Rising family expenses are usually the primary cause of misunderstandings of couples. Married life is a long process of adapting to the financial needs of each other.  In Texas law, alimony is being given by one spouse to the supported spouse after divorce as ruled by the court. Do note, however, that the Texas Family Code provides that alimony will not continue if the supported spouse will remarry or even when that spouse cohabits with his or her new partner.  Emotional Aspect Pros:  The experience that you have encountered in the past will give you emotional maturity. You will be able to understand what your partner needs. In addition, having a companion and building a family with someone you love lessens the burden that you feel.  Cons:  Your first divorce may have stressed you out. In some ways, this may have an effect […]

Consequences of Entering a Second Marriage

middle marriages
For most people, the pain of divorce runs deep. For those who were on the receiving end of the petition, they may end up making drastic decisions to find comfort.  This is why there are “middle marriages.” This is when a divorcee would abruptly enters into marriage again even when the divorce is still considered “fresh.” For first marriages, almost half of them end up in splitting, but for the second marriages, they have an alarming 67% divorce rate.  Why There are Middle Marriages It is often called “middle” marriages because the hope is that the person would learn and eventually find the right person.  There are a myriad of reasons why people would tie the knot again so quickly after a divorce. Aside from easing the emotional grief, some divorcees are terrified of the prospect of going through life alone. Some have logistic or financial reasons: they are used to having a homemaker around, or having a “man in the house” to pay the bills.  Wired to Need Somebody Scientific studies reveal that seeking a partner after divorce is part of a biochemical reaction. Divorce is equated with separation and rejection, and it is similar to a drug addict experiencing withdrawals.  When one is in a relationship, there is a natural “high” from a dopamine rush which makes us feel good. If that “high” is taken away, we will panic to try and find it again. People would enter relationships, and it would also be easy to find fellow divorcees since they are in a similar state. However, it is probably best to let the dust settle. There should be sometime to be alone and make sure that you are clear with your feelings towards the other person and not just satisfying a need or filling out a void.  […]

Middle Marriages: Don’t Get too Excited