Articles Tagged with property distribution

divorce-team-400-07974910d-300x200It is not uncommon for individuals going through divorce to be short-sighted and focus only on the immediate situation, which is to end their marriage. It’s a very emotional time for everyone involved and often decisions are made from the heart, not the head. But this tendency towards rash judgment can have detrimental consequences down the line.

While most people have some sort of support team in place – family and friends to help them get through the most emotional days — you might need a little more than a best friend’s shoulder to lean on. A strong team of professionals trained in matters relating to divorce and family law can help you come out on the other side of divorce both emotionally and financially sound. To learn more about who you may need on your team, read the recent Forbes magazine article “Considering Divorcing? This Is Your Single Most Important Decision.”

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?