When Texas marriages involving significant financial holdings and the potential for alimony come to an end, the parties often hunker down and prepare for a courtroom battle. They expect a high asset divorce to focus on the money, not their Facebook pages. However, in this age of technological advances, electronic communications and social media, they should make sure that their Facebook pages, Twitter accounts and other electronic forms of communication are ready to be scrutinized by attorneys and judges.
Texas movie fans might have seen that Johnny Depp and Amanda Heard finally came to an agreement to end their marriage and close the proceedings. For a while, it appeared that the media heard the last from this Hollywood couple, but recent accusations by Heard have put the couple back into the spotlight. She claims that Depp failed to comply with the settlement reached in their high asset divorce.
When a couple gets divorced in Texas, the marital assets are divided according to the state's property division laws -- that is, unless the couple has a prenuptial agreement in place.
You might be wondering why you should be thinking about protecting your assets when you are planning your wedding. After all, you are more than likely not thinking about the fact that you could end up in a high asset divorce at some point in the future when you are not even married yet. The fact of the matter is that this is the best time to keep your assets from becoming part of the marital estate since Texas is a community property state, which means that all assets, property and debts acquired during the marriage could end up being subject to division in a divorce.
Many service members and their families retire here in Texas. If a couple's marriage does not last, all of the assets acquired or increased during the marriage are considered jointly owned under the state's community property law. This means that in a military divorce, the service member's spouse could have a right to a portion of his or her retirement pay.
By its very nature, being a member of the United States Armed Forces means that there will more than likely be changes in how service men and women live. For many military couples here in Texas and around the globe, change could include a military divorce. When children are involved, the service member could feel slighted when it comes to child custody because being deployed to another state, or even another country, is part of the commitment.