How Can I Protect Myself Financially During a Divorce?
February 11, 2013 | Elizabeth A. SchadingWhile divorce will undoubtedly change your financial position, there are ways that you can reduce the financial danger, especially if you and your spouse have racked up lots of debt. As we covered in a previous article, debt can become a very sticky situation during a divorce. These steps will help you avoid making the situation worse. Start by checking your credit. It’s common for divorcing spouses to discover that there are debts they never knew existed. You and your divorce attorney can’t devise a strategy if you don’t know the full story. Pull a copy of your credit report so you can obtain a complete financial picture. If possible, it would be a good idea to discuss closing credit accounts with your spouse before cutting off your shared lines of credit so that you do not increase the rancor between you by placing your spouse in an embarrassing situation where he or she tries to swipe a credit card that no longer works. Unless unavoidable, you should avoid taking out any new debt, as well, even if it is only in your own name. Some who are divorcing will find that bankruptcy is their only option for securing a fresh start and a secure financial future. It’s sometimes a good idea for…
Read MoreWhat Happens to Debt During a Divorce?
February 7, 2013 | Elizabeth A. SchadingDuring a divorce, many people focus on the assets that are acquired during a marriage without giving very much thought to the debts. The division of debt during a divorce can be a very sticky issue that will have a great impact on your financial future. While we can’t tell you who will have to pay for what, we can tell you that the courts use the principle of “equitable distribution” as their guideline. That means the court will look over the total story of the debt and that debt’s place in the marital partnership while reaching a decision about who might ultimately be responsible. That might include whether the debt was taken out before or after the marriage, whose name the debt is in, what the debt was used to purchase, whether the other spouse knew about the debt or not, and a host of other factors. “Equitable distribution” does not mean that you will necessarily feel that the distribution of the debt is fair. It’s quite possible, for example, to end up footing half the bill for something that your spouse never even told you about simply due to a host of other factors that impact your case. It may feel unfair to you, but remember that you are in the…
Read MoreWhat Can I Do If There Are Problems With Parenting Time?
February 4, 2013 | Elizabeth A. SchadingWhen a court sets a parenting time schedule the order represents a set of mandatory instructions regarding parental access to the child. That doesn’t mean the situation will be perfect. Problems with parenting time are common, though not all of them will be cause for any changes to the visitation schedule. Some problems may simply need to be dealt with, no matter how unfair it may seem. Problems often include the following scenarios: Game playing. The spouse makes parenting time difficult or unpleasant. The spouse may be late for drop-offs and pick-ups, may fail to pack necessary items or may fail to return packed items. Inappropriate behavior. Sometimes the difficulty is the other parent’s behavior during the parenting time. The child may be interacting with questionable people or exposed to questionable things. Failure to give access. Some parents downright defy the court’s parenting time order. Sometimes they’ll start “switching up weekends” or playing other games with the schedule until the other parent’s time has been reduced. Failing to exercise rights. Sometimes the problem is getting the spouse to actually exercise parental rights. Some spouses simply aren’t interested, and fought for parenting time primarily to reduce their child support. This can be frustrating for the other parent and traumatic for the child. If the…
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