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Posts tagged "finances"

5 Steps to Prepare Yourself Financially for Divorce

If you find yourself in this situation and feel divorce is your only viable outcome, you need to take the following steps to protect yourself financially. 

1. Separate your Non-Marital Assets
The dictionary would define Non-marital assets as property considered by the courts to belong to one spouse or another and that which is not available for equitable distribution. Basically that just simply means they are not part of the assets divided in a divorce. 

Understanding How Assets Get Divided In Divorce (Part 2)

It is also very important for you to know if you reside in a Community Property State or an Equitable Distribution State. There are nine Community Property States: Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington and Wisconsin. Community Property states consider both spouses as equal owners of all marital property (a 50-50 split is the rule).

Bankruptcy: Four Signs that it's Time to Consider It

Financial troubles can happen to anyone at any time, even the most financially cautious individuals can be struck by an unexpected circumstance like an illness or job loss. If you are struggling with debt and are unable to keep up with your bills, you may be wondering if bankruptcy is the answer. Below are four signs that it may be time to speak to a bankruptcy lawyer about your options:

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