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It can be difficult for anyone to achieve dreams in life. Certain obstacles are unavoidable, and sometimes, things are just not meant to work out. You were able to reach your career goals by becoming an entrepreneur and creating a company that took off and remained successful. However, your marriage was not meant to last.

Now, you have concerns about what will happen to your business as a result of your pending divorce. Will you lose everything? Will your soon-to-be ex-spouse end up with the business? Will you owe him or her business assets? These are understandable concerns because your business undoubtedly means a great deal to you, and you do not want to unnecessarily harm its future.

Is your business marital property?

First, you may want to determine whether the court will consider your business marital property. If you first got married and then started your business, it does constitute marital property. Additionally, any assets obtained by the business after your marriage fall into this category. The same goes for starting your business before the marriage. The business itself may be separate property, but assets earned after marriage are not. Because Texas is a community property state, you and your spouse have the right to a 50-50 split of marital assets.

The possibility also exists that your spouse could have a claim to the business because he or she contributed to its success. At first, you may think that this does not apply because your spouse did not have dealings with the business, but if your spouse managed the household, taking over those duties may have allowed you to put more time and effort into the success of the business, which means he or she indirectly contributed to the company.

What can you do?

Before you resign yourself to losing a portion of your company during your divorce proceedings, you may want to remember that nothing is set in stone yet. You may have the ability to negotiate with your spouse to determine whether he or she would give up any claim to the business or business assets in exchange for other property. 

These negotiations can be tricky and sometimes heated, so it may be in your best interests to discuss your options with an attorney. Your legal counsel can help you determine the best options for working toward your goals.

How soon is “too soon” to decide that you’ve made a mistake with your marriage? Apparently, there’s really no such thing as “too soon” when it comes to matters of the heart. In fact, the majority of couples have a pretty good idea about whether their marriage is healthy from the very start — even before the honeymoon phase is over.

The typical picture of matrimony has always been a little grim. It’s generally been anticipated that a couple will rush into each other’s arms with great initial joy. Then, as time passes and the bloom of the new relationship fades, a couple’s overall satisfaction with their marriage is expected to fade quite a bit — even if the couple stays together out of a sort of dull contentment with their situation.

Except research doesn’t bear out this idea. Not only do many married couples (around 60%) start their relationship highly satisfied with each other, those couples tend to remain largely satisfied over time. Roughly 30% of couples start their marriage only moderately satisfied with the relationship, while 10% of couples aren’t particularly happy with their marriages even in the beginning. As it turns out, the lower your initial level of satisfaction in a marriage at the start, the lower it’s likely to continue being — especially among those in that bottom 10%.

What does this mean, in practical terms? The odds are good that you have a fairly clear sense about your marriage’s longevity from the very start. If you aren’t happy with the relationship, you probably can’t expect it to evolve into something better.

While nobody ever really wants to think about divorce, it really can be a fresh start for both parties — and is often the best solution once a couple realizes that they’re simply not compatible over the long run.

Just like every marriage is unique, ending a marriage is a little bit different for everyone. Some people in Texas have to figure out what to do with a family home. Others have to sort out how to divide debt. Though these are two different issues, they are still part of the same process — property division. So, no matter what you might be dealing with during your own divorce, there are a few things you should keep in mind.

For example, it is a good idea to keep emotions out of things. This can be understandably difficult. Marriage and divorce are much more than legal processes, and both illicit strong emotional reactions. It can be easier to keep those emotions in check when you have a better idea of what behavior is actually helpful.

Put everything on the table

You and your ex-spouse accumulated assets over the years, and now neither of you wants to let go of them. One or both of you might be tempted to hide a few marital assets on the side, but this is never a good idea. Not only will it negatively skew property division to one person’s benefit, but it can also land you right back in court months or even years in the future. It is best to fully disclose all assets — including income and debts — when asked.

Having an accurate record of income is important for support payments too. If you earned less than your ex or did not work, you cannot get the full alimony that you deserve unless everyone’s income is on the table. This can also negatively affect child support payments if you have children.

Save big changes for later

Divorce is already a life-altering process, though it is almost always for the better. This actually encourages a lot of people to reconsider other aspects of their lives in which they might be unhappy. While this type of introspection is great, acting on anything significant while going through a divorce is not always a good idea. Accepting a job in another state, moving hours away or even taking a position in another country are all things that should wait for later.

You also cannot just change the terms of your temporary visitation or custody agreement when you feel like it. If you do think the agreement is not meeting your child’s best interests, you can always ask a judge to modify it as needed. However, when you take the matter into your own hands, you are ultimately violating the agreement. This can make it a lot harder to get custody and visitation rights in the future.

Remember to get help

At some point during your marriage, you and your soon-to-be ex might have faced difficult situations together. You already know that having the support of someone who is on your side makes a world of difference. Divorce is no different.

You do not have to wonder whether you are making the right decisions or if you are navigating the process all wrong. Working with an attorney who is experienced with Texas family law can ease those worries, creating an easier path to the end goal — a successful divorce. But since what defines a successful divorce is usually personal, it is a good idea to talk about your goals with your attorney.

In Texas, many soon-to-be ex-spouses either make financial assumptions about a divorce or simply do not know what awaits them. Unfortunately, these individuals often face some unwelcome surprises. It is best to get educated ahead of time to learn how to deal with divorce-related financial issues before they arise.

One common problem is that people are unaware of the full amount of their household debt. Both parties may end up having to assume some of that debt after a divorce. Individuals are often surprised by these circumstances, especially if the other spouse was the one who managed the finances.

The cost of health insurance can also be an unwelcome surprise. If one spouse had been paying premiums for the family, the other partner will have to find insurance on their own. They soon may find that insurance can be prohibitively expensive, especially if they do not have a job that offers health benefits.

Many non-working spouses do not anticipate that a divorce would require that they return to the workplace. They may be factoring in alimony or child support but have overly rosy forecasts for what they would be receiving. This would mean that they need to earn money to make ends meet.

Education ahead of time is the best way to avoid some of these shocks. While it may not change the financial situation, a divorce attorney could at least provide the information necessary so that a client understands what they’ll face. Then, the attorney may help the client negotiate the best possible financial terms during the property division process.

Your decision to divorce will have serious financial implications on your life. You know that the choices you make throughout this process will directly impact your future, which is why it is important to think long-term. In fact, there are steps you can take now to start preserving your interests and preparing for the process ahead.

If you have not yet filed for divorce, you may think there is not much you can do yet. In reality, you can start taking steps that will provide you with more control and give you more leverage when it’s time to negotiate. You have the right to fight for a strong financial future, and that process can start even if you are still simply considering the possibility of a divorce. 

Your future, today

Divorce will also certainly reduce your financial standing, at least for a period of time. Even the wealthiest of Texas couples may find that they experience some impact from the terms of their property division and financial settlements. You can minimize the negative effects and bounce back quicker when you are well-prepared for the process ahead, and some of the things you may want to consider doing include:

• Get familiar with your finances now — This is especially important for a spouse who was more hands-off with the finances over the course of the marriage. Familiarize yourself with accounts, tax returns and other important things you need to know.
• Talk with someone — Talking with financial professionals and other knowledgeable individuals can help you get the information you need to make smart choices in your divorce. Ask questions, learn about your rights and discover as much as you can about your financial situation. 

These are only two of many ways you can take steps to make sure you have a strong financial future after your divorce. Finances are one the most sensitive and complex issues to address in a divorce, and you do not have to navigate these complicated matters on your own.

With the support of an experienced family law attorney, you can pursue a settlement that makes sense for you and your objectives. The stakes are high, but stability and security are possible. Take control of your future now and avoid regrets down the road, starting by seeking an assessment of your case and explanation of the legal options available to you.