Articles Tagged with property distribution

divorce precautions - photo of young girl in pink top holding yellow umbrellaNot all couples facing divorce do so amicably. Those who do usually fare better in the long-run; for those who don’t, however, a little preparation can help you avoid making serious mistakes both during the divorce process and in its aftermath.

Individuals involved in contentious divorces have found themselves left in dire financial straits, or have lost their homes or even their children because they failed to take precautions before proceeding with their divorce. A recent article on workingmother.com offered guidelines for preparing for divorce in order to protect both you and your children legally, financially, and physically. For details, read “How to Prepare Yourself and Your Children for a Divorce.”

divorce's affect on credit score -- photo of corner of keyboard with a person's finger touching a yellow 'credit report' keyMost people work hard to establish a good credit rating and even harder to maintain it once it is achieved. To have a good credit score jeopardized by the actions of another person would be devastating, but that’s what could happen if a husband and wife fail to discuss how to handle their debt in the event of a divorce.

Married couples commonly have shared accounts and financial obligations – mortgages, credit cards, and car loans, to name a few. The actions of one spouse can impact the credit rating of the other spouse not only during the marriage, but even after the couple separates. To learn how to protect your credit score in the midst of your divorce, read “What Happens to Your Credit When You Get Divorced?