While the divorce rate is going down a bit of late, there are still thousands of couples who get divorced every year. Some have been married for decades – some have only been married for months. Despite the fact that most people have the best intentions when they get married, things don’t always work out. If you’ve ever been in a relationship that ended, then you know this to be the case. Getting divorced seems like the easiest solution sometimes. However, it’s not always the best idea.
When a couple finally accepts the fact that things aren’t working out the way they hoped, they have a few options. They can go to counseling and try to save the marriage. They can get separation and see if time apart solves their problems. But if everything else has been done, divorce may seem like the only option left. However, for some couples, divorce may not be the best financial option.
A good idea may be to meet with an experienced divorce attorney in Houston. They’ll be upfront and honest with you. They’ll let you know how much it will really cost to get divorced. They can also let you know how a divorce will impact you in the long term.
You May Have to Share Your Retirement Account and Savings
If you’ve been married for a long time, there’s a good chance you’d had to share things like your retirement, 401K, and pension with your spouse if you get divorced. Now, if you stay married, you’ll be sharing these monies with your spouse anyway. It just feels a lot different to spend money on things your family needs as opposed to signing over half of everything you’ve worked for your entire life.
The same is true for things like your savings and investments. If you get divorced, there’s a chance you’ll have to divide these assets in half and give it to your spouse. Nobody wants to do this. However, if your marriage truly isn’t working out, it could be worth it to you. It all comes down to what’s most important to you. If you don’t mind parting with your money, then divorce may be the best and immediate option for you.
You May Have to Pay Alimony or Spousal Support
Depending on how long you’ve been married, you may have to pay spousal support when you get divorced. If you’ve been married for more than ten years, you’ll very likely have to pay support. Now, if you are the lesser-earning spouse, this means you may receive spousal support. That could be an incentive to getting divorced. If the one thing holding you back is not thinking you can be financially independent, this could be music to your ears. However, if you’re the party paying the support, it’s never a pleasant thing.
You’ll Have to Sell Your House or Buy Your Spouse Out of Their Share of the Asset
If you and your spouse own a house together, you’ll have to make a decision. Will one of you stay in the house and buy the other out? Or, will you sell the house and split the proceeds? This is a huge decision. But, if you decide to divorce, it’s a decision that will have to be made. If you and your spouse have children, you may want them to stay in the house – at least until they graduate high school. This means you might want to let your spouse keep the house and allow them to buy you out. This could happen in a variety of ways. You could let your spouse give up a portion of their settlement in exchange for keeping the house. This is something your Houston divorce lawyer can discuss with you.
Contact Our Office to Find Out if Divorce is the Solution for You in Houston
If you’re considering getting a divorce, you may want to talk to a Houston divorce attorney first. They can paint a realistic picture of what your life will be like after a divorce. They can also help you decide if divorce is the best option for you financially. Contact us and schedule an appointment with one of our experienced divorce lawyers today. They can answer any questions you may have and, if you decide you do want to proceed with a divorce, they can handle it for you from the beginning to the end.