CHEAP TEXAS DIVORCE - PROPERTY SETTLEMENT

CHEAP TEXAS DIVORCE

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Uncontested Divorce in TEXAS

TEXAS IS A COMMUNITY PROPERTY STATE

When dividing property you must first decide what asset or debt is community and what is separate property.  Next you must decide what the property is worth or what is the balance of the debt owed. Finally, you must decide which party is to receive the asset and/or debt.

SEPARATE VS COMMUNITY DEBT

It does not matter whose name the asset or debgt is in. Everything either party owns or owes is presumed by law to be part of the community estate unless a party can prove otherwise.

Separate property is:

• Anything owned before marriage and the appreciation or increase in value of that property
• Inheritances or gifts (from others or from a spouse)
• Personal injury damage awards (except for loss of earnings)
• Property exchanged for other separate property

Community property is:

• All property other than separate property acquired by either spouse during marriage (including wages)
• Income, rent, or interest earned on separate property

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Agreeing to all of these things can be very hard, especially when you have children.  When couples can agree, it saves on legal expenses and can make the case go much more quickly. If you believe that you and your spouse have an agreement on everything above, then an uncontested Texas divorce may be for you. These types of divorces are the cheapest way to become divorced and the least stressful.

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Whether a couple chooses to go it alone or chooses to hire an online DYI divorce service, the secret to keeping your money in your pocket and out of the hands of lawyers is to come up with a plan together and work out your differences by agreement.

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DIVORCE DOES NOT HAVE TO BE EXPENSIVE!

    

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So, at age 53 I am newly divorced and am now taking stock of what has just happened to me financially. My ex is a contractor and I had lost my job so we lived off my retirement until it was exhausted. Like many couples, we spent everything we earned and then some. So when divorce was inevitable, I had to be creative in finding a solution to the divorce process that was not going to put us further in debt.  The answer was an online DYI divorce service where I could obtain the documents needed and have access to information that would help us get a CHEAP DIVORCE.  This option worked great for us and this blog is dedicated to informing all couples like us on how to keep what you have, not pay ridiculous legal fees, and still obtain a divorce cheaply and easily (if one can say going through a divorce is easy). You can go to BudgetLegal.com.

          I had other friends who had been through divorce in Texas and the prices of their divorces were insane.  I had one friend who spent over $15K before her divorce was final and who knows what her ex-husband spent on his lawyer.  This is money that comes directly out of the community estate and NOT into either of a divorcing couple’s pocket.  Having a friend who worked for a law firm helped and it was she who said "don't fight".  If you come to an agreement on property and/or kids (ours were grown so I did not have to deal with that issue), you can file your own papers and avoid the $300-$800/hr fees most family law lawyers charge.

          In the end this process worked for us and I believe most intelligent couples can work out their differences amicably.  Divorce is like a business partnership that has gone bad.  You need to divide the assets and debts fairly so the money you have earned over the years you were married goes to you and not your lawyers.  There are always going to be couples with issues that require an attorneys help, but I have seen too many friends end up spending thousands of dollars unnecessarily. I also know people who have stayed married simply because they could not afford divorce attorneys so they just lived apart for years.

          My next blog will be about the divorce process.  Till then . . . 

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