What happens when the marriage you entered into with such high hopes is headed for divorce court? Money has become a big point of contention, even in intact marriages, but has also become the leading cause of divorce – bills are continually rising and it costs a lot of money to raise children. Whether you… Continue reading →
Archive for the ‘Debts’ Category
It’s always a good idea to talk to your spouse about your finances
In marriages, finances are one of the most important issues and have the potential to ruin the relationship. People have very different opinions on money – If you are about to be married or are already married, it is a good idea to talk to your soon-to-be or your already husband about combining your incomes,… Continue reading →
Dividing up debts and liabilities
As part of an action for the dissolution of a marriage, the court must determine the division of the couple’s debts and liabilities – not only division of property. The court considers the circumstances surrounding each party before arriving at a fair and equitable division. The court looks at the length of the marriage, the… Continue reading →
Divorce and debts
When a marriage ends, the property and assets are not the only things that are divided. So are your debts – credit cards and other bills that need to be paid. When there is a prenuptial agreement, it is usually easier to divide debts that have been incurred because the agreement will guide you through… Continue reading →
Joint debt
Your final divorce agreement says your spouse is responsible for paying the credit card debt. What happens if he or she doesn’t? Even though there is a court order for your spouse to pay off certain debt, the account will remain in both of your names until there is a zero balance. A joint account… Continue reading →
Allocation of debts
Besides the division of assets, the allocation of debts is one of the most important issues to settle during a divorce. Both parties are responsible for marital debts that were incurred during the marriage. Generally, the decision regarding the allocation of debts follows the same principle as division of property – all debts must be… Continue reading →
Are you facing foreclosure during a divorce?
Going through a divorce is stressful enough without your home adding to your problems. Is your home worth less than you owe on it? If this is your situation, you have options: · Short Sale – Your house is sold for less than the amount of your mortgage loan. The bank will not go after… Continue reading →
Dividing marital debts
In California, both parties in a divorce are liable for all debts incurred during the marriage. California Family Code Section 910 states, “The community is liable for all debts incurred before and during the marriage, but before separation.” Keep in mind that each party’s separate property is not liable for the other party’s debts –… Continue reading →
Surviving divorce today
After the first few years following divorce, the standard of living for both spouses usually drops. During the marriage, both incomes were supporting one household – now they are supporting two. Divorce is a stressful situation; however, there are ways you can prepare yourself for your post-divorce financial future. · Develop a budget on necessities… Continue reading →
Separating martial debt
In today’s economy, many couples owe astounding amounts of money for homes, cars and credit card purchases. When you’re in a relationship, it is easier to pay the debt, but what happens when the marriage ends up in divorce – who is responsible? When a couple files for divorce, they first think about their assets;… Continue reading →
Recent Post
In What Circumstances Does Supervised Visitation Apply to a Case?
The Answers to Your Burning Questions Regarding Mediation
Your Holiday Plans and Custody: How to Modify Your Order
What to Know When You Are Divorcing from an Abusive Spouse- Can I Attempt to Appeal My Child Custody Order After the Fact?
