If you are in debt and you and your spouse have decided to get a divorce, you may be concerned that you'll need to file for bankruptcy. One thing you should also be asking yourself is if you want to file before or after your divorce.
After deciding to dissolve a marriage, many individuals in California and elsewhere may continue to grow financially. Should a person receive a substantial sum of money during a period of separation, he or she may feel that this property will be deemed as separate, but this might always be the case. A man in another state was recently informed that he would have to split his recent lottery winnings with his estranged spouse during divorce after an arbitrator deemed his winnings as part of the marital estate.
It is no secret that going through extended periods of debt can be a stressful and daunting process. However, individuals in California who are dealing with high levels of debt might not be aware of the impact similar issues could have on their health. Those who wish to reduce the chances that monetary struggles will affect their well-being could benefit from seeking guidance on the available options for debt relief, such as bankruptcy.
When facing the end of a marriage, many individuals in California may focus a significant portion of their attention toward gaining awareness of marital assets and finances. While understanding the value of the marital estate can be helpful, it might not always be the only aspect to address. Since marital debts could also have a substantial influence on the outcome of a divorce, gaining an understanding of outstanding financial obligations prior to negotiations could prove vital.
There may be a multitude of couples in California and elsewhere who might entrust many or most of the financial planning decisions to one party. While this might not seem to be an issue at the time, should the couple decide to divorce, a similar decision could leave the other party with less of an understanding of marital finances. Since the outcome of the process will impact the lives of everyone involved, finding ways to become financially aware might prove imperative to preparing for negotiations.
Being accused of operating a motor vehicle while under the influence of alcohol can be a scary and stressful experience. However, when it comes to allegations of impaired driving, the presence of alcohol might not always be a contributing factor. There are a variety of medications that can affect one's ability to drive and operating a vehicle while under the effects of a prescription medication could also leave a person in California facing DUI charges.
A divorce can make you take a cold, hard look at your finances. For many people, the reality is that keeping their home in Santa Rosa is out of the question. If you do keep it, you'll be paying more on a mortgage and have to take care of utilities. In the past, these bills might have been shared, so "going it alone" might not be feasible.
Over the course of a marriage, many couples in California and across the nation may choose to pursue their goals of owning a home. Upon making the decision to divorce, couples may face the difficult decision of how to handle the family home. Prior to deciding on a path, a person may find it beneficial to ask certain questions about the potential financial ramifications of pursuing ownership of the home, as these could influence his or her decisions substantially.
Upon deciding to end a marriage, individuals in California and elsewhere may be eager to finalize the process and open a new chapter in life. However, this might not always be an option in every scenario, especially for parents. When kids are involved, parents may benefit from seeking out ways to reduce the level of conflict involved with life after divorce and focus on forming a co-parenting plan that meets the needs of the children.