A divorce can be hard on everyone. While you may be focused on the emotional fallout, it’s important that you make the best financial decisions. Otherwise, the mistakes that you make could haunt you for years to come.
The debt that occurred within the marriage needs to be divided. You may have multiple joint credit cards and this means that you have to decide how it’s going to be handled. Take the time to add up all debt and how it’s going to impact you now that you may only have one source of income. It’s okay to ask for mediation when it comes to determining how debt is to be handled.
Removing Yourself from Obligations
It may also be possible for you to remove yourself from various financial obligations. For example, if your spouse is keeping the house, then you shouldn’t be financially responsible in the event of a mortgage default. This is when you want the correct verbiage placed into the marriage dissolution documents that state you are not to be held financially responsible.
Work with an Experienced Attorney
You want an attorney who will make it easier for you to make decisions. This includes learning more about the process and what the aftermath could be. There may be a lot that you never even thought about, and it will be the attorney who will help you to consider what needs to happen.
Contact us today to learn more about financial decisions that need to be made regarding your divorce.