Almost everyone has heard the adage that it is important to “pick your battles” in life. This advice can certainly be worth heeding in a divorce, where so many seemingly small issues can be blown out of proportion. With that being said, the opposite issue can take hold for those who are eager to end a marriage quickly: to avoid conflict, people may steer clear from fighting for things that really matter when it comes to their financial future.
Here are three areas where Texas individuals might want to put some energy during a divorce in order to take care of their future needs:
- Spousal support: Support does not come into play in all divorces; However, there are some wherein it can be a major issue, and rightfully so. For example, if one spouse left their career in order to care for the home and family, they would be well advised to consider asking for support after the divorce. Those who choose not to ask for what they deserve in this respect could be putting their financial futures at risk in a serious way, as re-entering the workforce can be difficult for many who have taken a long hiatus.
- Child support: Individuals who have retained primary physical custody of shared children should keep those children’s financial needs in mind when it comes to the divorce agreement. It is important to remember that child support is for the children, not the ex-spouse, and that getting a fair amount will help to meet the needs of these children and provide them stability long-term.
- Division of major assets (especially the marital home): The marital home is often the most contentious asset in divorces. While it is understandable that one party may wish to buy out the other in order to retain a home they love, in many cases it is easier to simply sell the house and divide the proceeds. In any event, it is important that both spouses receive the appropriate division of all assets, particularly those of this size.
When a marriage ends, financial plans are often upended. Individuals who have been counting on sharing assets within one household will be forced to reconsider what they have and how they spend it. This is why a fair division of major assets, as well as spousal support and child support, is extremely important to establish. A Texas family lawyer is an important starting point for those who seek to understand their rights, obligations, and options when it comes to these matters.