In the book "Countdown To Financial Freedom," author Mark Avallone writes that there are three "Ds" in life that can truly devastate your financial plan. They are: divorce, disability and death of a spouse.
The lifestyles of celebrities provide as much entertainment as the movies or music they produce. For many in Texas, the luxurious homes, cars and clothing of famous people seem to be a fantasy anyone would want. However, when the personal struggles of a star become news, the truth often emerges. This may be especially true when a celebrity is involved in a high asset divorce.
Few people in Texas understand the stresses of a military marriage unless they have been inside one. Deployments, frequent moves and the emotional distance that belong to military life take their tolls on relationships. Because enduring a military divorce can be equally as stressful, family advocates urge spouses to try to work through the difficult times to preserve their marriages before seeking a divorce.
Divorce is difficult on many levels. There is no question that both spouses deal with emotional turmoil, and most marriages experience a certain amount of financial upheaval during a divorce. However, if one or both spouses is a Texas business-owner, that business may also suffer during asset division. Before decisions can be made about how to handle the company as a marital asset, a business valuation may be in order.
In Texas and many other states, spousal support is not a given when a couple divorces. In fact, in many courts, the assumption is that no alimony will be awarded. However, financial advisors recognize that often, particularly for women over 50, alimony is the difference between providing for one's basic needs and sinking into poverty.