During the beginning stages of a marriage, no one wants to think about divorce. However, the statistics are clear, and nearly half the couples who marry will eventually split up. With that in mind, couples are smart to plan for the financial consequences of a potential divorce, even if the marriage is currently healthy. Understanding…
Marriages may not always last for decades, but some debts do. When a married couple who owns a house divorce, the mortgage debt often exists for longer than the marriage. During a divorce, couples need to be aware of the long-term consequences of their mortgage before deciding on what should happen to the house. Mortgages…
The costs of attending college rise more and more each year. Many parents help their children prepare for these costs by saving throughout their children’s lives, so that they have support after high school graduation. When parents get divorced, they may be concerned that the costs of the divorce will affect their children’s futures. During…
During a divorce, couples may disagree about the best way to divide their shared property. In Washington State, all of the couple’s property, including their home, their vehicles, and their businesses, can be appraised and split up. If the couple cannot reach an agreement as to how their assets should be divided or if the…
For many people, their house is their most valuable asset. In a divorce, assets are split fairly between the couple, including their home. When neither former partner can afford to keep the house, or when both partners want to leave the home, the house may be put up for sale. When One Partner Wants to…
When a married couple owns a business, that business can be considered community property. Like all assets in a Washington State, the business should be split between both spouses. But how does a divorce court divide up a business? Valuing the Business Before a business can be split between the spouses, the parties have to…
Unfortunately, divorce can be an expensive experience for many couples. The cost of splitting up or selling property, maintaining two places to live, and paying child support or spousal maintenance can add up quickly. In addition to these expenses, both partners will have to pay legal fees to their respective attorneys. When contemplating a divorce,…
When your marriage is ending, it is understandable that you may not want your soon-to-be former spouse living with you for any longer than is necessary. However, many spouses do not want to leave the home or cannot afford to get a new place to live during the divorce. If your spouse refuses to leave…
For many people, the idea of filing for either divorce or bankruptcy is terrifying and doing both at the same time may seem like way too much for one couple to bear. However, for couples who incurred a lot of debt during their marriage, filing for bankruptcy before filing for divorce can help each partner…