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Divorce leads to the division of assets and debts

by | Jul 12, 2016 | divorce

As you go through the divorce process, many questions need to be answered. Like others, you may be most interested in the division of assets and debts.

As simple as it sounds, the division of property can lead to a variety of challenges. For example, it’s easy to believe that everything is split down the middle, but this is not always the way things work out.

It is common to pay so much attention to your assets that you overlook the fact that debts will also be divided. So, while you focus on bank accounts and retirement savings, you also need to consider things such as credit card debt and personal loans.

Since it’s easy to get off track during the division of assets and debts, you need to know exactly what you are up against. This means answering questions such as:

— What property do you own alone?

— What property do you own with your former spouse?

— Have you made a list of all shared debts?

It may take some time to answer these questions, but you will be better off for it in the long run.

At our law firm, we realize that the divorce is extremely difficult on all parties involved. When you add in matters of property division, you may feel like giving up.

We are here to make sure you never give up and that you are treated fairly from start to finish. To learn more about divorce and other family law issues, take a look at our many webpages on the topic.