1. Don’t Forget the Debt.
On top of the shared responsibility of taking care of bills, married couples also share many types of debt. Start by gathering information on the debt you’re aware of by collecting documents in regards to outstanding loans, student loans, credit card debts, and property liens.
On the other hand, there may be debts that the other spouse is unaware of. Sadly, these often come up during the divorce proceedings and could make things even messier for both parties.
Your job will be to stay focused on who is responsible for what debts after the divorce.
1 thought on “Getting a Divorce? 6 Financial Tips to Keep You Going!”
All this is very informative, and deserves to be remembered. The one really big obstacle is the attorney, and his cooperation and HONESTY. My attorney and my former spouse’s were in cahoots with each other, and the way they handled this was to delay answers from letters that were sent, deny that letters were sent as they didn’t receive it, go on vacation for a few days, delay answering important mail, and anything else that could be a hitch in completing the job quickly and to the best of their ability. I guess these two reprobates learned how to make money, but never protected their client. My attorney, who had questions on the real estate, that went unanswered, called my real estate agent to get an answer, then billed me for the time. He was NO WINNER. This person was recommended by another attorney. Too bad I didn’t check out both attorneys from the beginning. I say that $40,000.00 was a lot of frivolous waste of my hard earned dollars. I only worked forty some years before deciding to divorce this narcissist, who died three years after the divorce was final. Too bad it wasn’t before that. BTW, I never found out the amount of how much the attorney for my former husband fleeced him for.