According to a survey conducted by the Securian Financial Group, almost one-third of the divorced respondents did not get a share of their spouse's retirement benefits in their divorce settlement, and they also reported being unaware that they were entitled to a portion. Like the survey participants, people in Texas might be missing out on the opportunity to protect their own retirement by allowing their former spouses to keep such accounts intact after a divorce is finalized.
A recent high-profile divorce case may be of interest to individuals in Texas who are involved in a contentious separation. The case involves Frank McCourt, the former owner of the Los Angeles Dodgers, and his former wife. According to a report, the former couple reached a divorce settlement in 2012 after they had been married for almost 30 years.
Divorce is often contentious. Shortages of cash that can inevitably come along with the divorce process also do not help matters and therefore care should be made when it comes to financial considerations.
Many spouses are in for unpleasant surprises when it comes to the dividing up of assets at the time of a divorce. Preparations do need to be made to make certain the asset division process is performed with some predictability.
A judge in Texas federal court has ruled that our state's ban on same-sex marriage is unconstitutional. U.S. District Judge Orlando Garcia wrote in his opinion that 14th Amendment clauses concerning equal protection and due process were violated by the same-sex marriage ban.
States are split as to whether same-sex marriages should be legally recognized. This has created additional complexities when it comes to same-sex couples seeking divorce.