Long story short, my wife and I have decided to separate. Texas allows for fault and no-fault scenarios, recognizing each situation is different.
Her and I have drafted a list of property, agreement on how to divide everything – and are preparing for a no fault divorce request…we want to avoid using attorneys as they would cost us more than we even own value wise.
Right now we’ve agreed on every item, and how to divide things up; we’re very non-hostile and we are being non-combative, we both realize that will not help the situation. The only concern we have is one credit card that we have jointly; there is no debt on the card as the balance is paid in full each month. We’ve agreed to keep it a "joint" account until the end of the calendar year, as it has a very high limit, a result of us both having good credit history.
Does anyone have experience in this matter? Will the court not allow this kind of agreement? We’re keeping it joint should any type of emergency happen to one of us, we don’t wish ill-will towards each other – the marriage has just reached a failure point.
Her and I have talked in great length, we don’t want to spend $10,000 on attorneys for what is realistically a $2,000 divorce. We’ve prepared the separation agreement, have discussed financial concerns, and the only debt we have is a vehicle payment (mine) and a student loan (hers)…thus the division was simple.
Texas marital separation agreements basically become "law" between the parties; so even if the separation were to turn ugly later on there is basically nothing her or I could do about it.
This is what my ex and I did, also in Texas. We dud have one lawyer for both of us and it worked out smoothly. We didn’t want to waste the money either and did the right thing for our child.