Debt division during a divorce can be as challenging as splitting assets. One common issue is determining how to allocate student loan debt between spouses. Understanding the factors that influence this decision can help prepare for the process. Factors that affect...
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Divorce
Divorce impacts on estate plans and beneficiary designations
Divorce often creates the need to update estate plans and review beneficiary designations. Individuals must take steps to ensure their wishes reflect the changes in their relationships. Reviewing wills A will outlines who receives a person’s assets after their death....
Legal implications of dividing business assets in a divorce
Dividing assets during a divorce is always a complex process. The stakes only get higher when these divorces involve business assets. Knowing the legal implications of dividing these assets is essential to make sure both parties receive a fair share. Determining the...
Why divorce can be even harder on teenagers than young children
Divorce challenges children of all ages, but teenagers often experience unique difficulties. Unlike younger children, teenagers have a more developed understanding of relationships and the emotional impact of divorce. This deeper awareness can amplify their feelings...
Challenges of divorce for older couples
Divorce is never easy, but it can be especially complex for older couples. Older couples' life circumstances often differ greatly from those of younger couples. As such, they face unique challenges when navigating the dissolution of a marriage. Financial implications...
Managing finances before and through a divorce
Divorce may be an extremely challenging time, especially regarding money management. Acting proactively to ensure continuing financial stability is crucial. Understanding your current financial situation helps you plan for the future, securing your financial...
What happens to debt in a divorce?
In New York, the process of dividing property and debts during a divorce follows the principle of equitable distribution. This means that the court aims to divide assets and debts fairly, though not necessarily equally, between the spouses. While many people focus on...
Can a divorce improve your life?
Divorce often carries a stigma, depicted as a symbol of failure or loss. However, the positive outcomes of such a significant life change can surprise many. While the process can be challenging and filled with emotional ups and downs, the end of an unhappy marriage...
Who gets to keep the family home in a divorce?
Divorce can be a challenging process, especially when it comes to dividing complex assets. In particular, you and your spouse might be uncertain about what will happen to the family home. Figuring out who gets to keep the house can be a difficult challenge, often...
What are the pros and cons of a default divorce?
When one spouse files for divorce and the other does not respond within the given timeframe, a court may grant the request regardless. In legal terms, this is what one calls a default divorce. Before moving forward with this option, it is wise to remember that default...