Couples who decide to divorce often concern themselves with how they're going to split up things like their homes, cars, jewelry and other valuable items. We seldom hear about which spouse is going to assume responsibility for the debts that they've amassed though. Perhaps it's rarely discussed because couples don't realize that just like their assets, any debts will have to be split up. They have to though.
Dividing up debts during a divorce requires negotiation
Should you sell the family home in a divorce?
One of the big questions divorcing couples face is whether to sell the family home. There is no right or wrong answer, as it depends on many circumstances. However, the conventional wisdom is often to sell and split the proceeds.
Splitting up home and household items in a divorce isn't easy
You've probably heard a line to a famous song sung many times before — "breaking up is hard to do." When writing those lyrics, the songwriter was most likely referring to the emotional baggage that comes with leaving a boyfriend or girlfriend behind. It's unlikely that they referring to the financial burdens that come with splitting assets when couples divorce.
Why shouldn't you move out of the marital home during a divorce?
Moving out of a marital home should be avoided at all costs while your divorce is still pending. There are many reasons this is the case.
Proving assets are nonmarital is not an easy fete
When it comes to splitting up property when you and your ex are headed for divorce, you may wonder how can you prove what is nonmarital property.
Protecting your credit during a divorce can prove to be difficult
When couples decide to divorce, they often think about how they're to divide up tangible assets. They, however, rarely think about what's going to become of their personal or shared debt. This is one of those things, though, that couples must discuss when it comes to property division.
What becomes of jewelry in a divorce?
It used to be where the longer couples were together, the more difficult it would be for them to divide up their property.
What happens with the house when we divorce?
When a husband or wife first receive divorce papers from their spouse, one of the first things that runs though their mind is what will happen with their home. In a state like Florida, where equitable distribution is king, the judge will generally split up property in a way that he or she deems fair or equitable.
How to protect yourself from losing your home during a divorce
One of the most frustrating things about divorcing after being married for several years is thought of having to part ways with the home you've lived in for some time. Aside from it being perhaps the most expensive asset that you own, you've also likely developed a emotional connection to it.
What becomes of pensions and Social Security during a divorce?
Each year, some 1.2 million American couples file for divorce. If your retirement is nearing, then you might wonder what will become of your hard-earned pension and Social Security (SS) in all of this.
