When a marriage comes to an end in Texas, it can mean short-term financial issues for newly single individuals adjusting to shifts in income and expenses. A report by the Center for Retirement Research suggests that divorce can also impact readiness for retirement. Changes pertaining to how alimony payments are taxed could present additional challenges for divorced couples.
Texas residents and others going through a divorce may have the power to create a divorce agreement that meets their needs. However, there is no guarantee that a party to the deal will live up to its terms. If a former spouse is not paying child or spousal support as agreed, it could be possible to take legal action to have that person held in contempt of court.
Once you have a child custody agreement, you have restricted options for getting it changed. Furthermore, a custody change is unlikely to be granted if it does not seem to be in the best interests of the child.
While the overall divorce rate in Texas and nationwide has stabilized, the divorce rate among older Americans is increasing. In fact, nearly 25 percent of all divorces are now "gray divorces," meaning the couple is over the age of 50.