Handling your debts in the divorce can break you financially if handled incorrectly. Most individuals we meet are more concerned about the asset (property) side of the equation and often overlook the liability (debt) side of the equation. Divorce settlement proceedings often break down when it comes to dividing up the debt in [...]
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No one goes into their marriage thinking that they are going to have to pull things apart and pick-up the sometimes unfamiliar role of managing their finances. To some, this is what they are used to dealing with and to others, it becomes a very stressful task that is piled onto an already stressful [...] It’s important to consider your life insurance needs prior to the divorce so that you can include appropriate provisions into your settlement. If you pass while married, in most states, the property passes to the spouse who then presumably passes property along to their children. Divorce makes these decisions and inheritance paths [...] An area that needs to be examined while you are going through the divorce process is determining the tax filing status that will be the most advantageous to you. During the pre-divorce year(s), you have a couple of options that can increase or reduce your tax liability depending on which filing status you [...] Most people understand the importance of good credit in starting a new, independent life after a divorce. Unfortunately, many people find that their credit is damaged due to circumstances that occurred during the marriage. In addition to repairing damaged credit and building good credit (topics for future articles), cleaning up your accounts is a [...] There are several issues to consider when contemplating a bankruptcy filing as part of a divorce. Certain debts are dischargeable and others are not. The following divorce related debts are not dischargeable in a bankruptcy filing: Taxes (federal, state, real estate, etc) Debts arising from a marital settlement [...] |
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