It is possible to come up with mutually agreeable solutions without getting into a tug of war. A reliable attorney will be there to guide you through each step and will generally ensure that you and your spouse are able to meet in the middle and make fair agreements. With the right assistance and the willingness to compromise, it will not be necessary for you to have decisions made for you by the family law courts.
It remains imperative for you to understand a few facts about property and debt division. First, you should know about the two kinds of assets that are involved in a divorce case. There are community assets which involve everything that was acquired during the period of your union. During divorce, it is the community assets that get divided among the partners.
Non-community assets are properties possessed before marriage. They also refer to assets given solely to one of the spouses. This includes inheritances or even personal injury settlements. Non-community property, usually remains under the name of the designated individual.
Most couples battle over house ownership. Well, if you have kids, the partner supposed to live with the children most of the time is typically awarded the family home. In case there are no kids in your marriage, no hard rules apply and you could even decide to sell the house and split the proceeds. Your attorney can again assist in in reaching a sensible agreement.
Settling matters of credit and debt can be challenging. Well, you may want to know that debt that is under your name is your sole responsibility. However, debt under joint accounts should be split equally between you and your partner. In case you used an account under your name to possess jointly owned assets, then the matter can be reviewed and the debt will be shared.
In some cases, a spouse may have cosigned against the debt of his or her partner. In this case the partners must agree on how the debt in question will be paid. This is because you will be held responsible for the debt by the law and also by the involved lender. In case your partner does not pay the debt as expected, then the lender will be allowed to legally demand that you settle the outstanding balance.
The chances of making mistakes when negotiating about property and debt division are usually very high. Because of this, you cannot afford to work without an attorney in your corner. An experienced specialist can help you dodge blunders that can haunt you for the rest of your life.
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