The first working Monday after the holiday season is dubbed "Divorce Day" for a reason. Many couples choose to forgo filing for divorce until after the holidays have ended. Some wanted to make a few more family holiday memories while others found the stress that comes with this time of year provided that final push towards divorce.
In a divorce, you divide not only your shared assets but also your shared debts. That said, even if your divorce agreement says your ex is now responsible for certain debts, your creditors have no reason to let you off the hook. Creditors are not a party to your divorce agreement, so legally they don't have to abide by what your agreement or order says about who is responsible. This is why any agreement or order should clearly specifies what will happen if your spouse defaults on their financial obligations and how you will be protected.
Marriage is not a flat line; there are ups and downs that every couple experiences. Over the course of these events, spouses can change how they feel about their relationship, their priorities and their future.
Financial security and stability can be difficult to regain in the aftermath of a divorce. People are living on less household income; they have legal and living expenses they didn't have before; the costs of paying for credit cards, car payments and healthcare can increase significantly.
Divorce is typically one of the last things people want to think about when they are about to get married. However, couples who have certain assets, children from previous relationships or anything else to protect in the event of a divorce would be wise to at least consider having a prenuptial agreement in place.
When the time comes to divide assets in a divorce, people often experience overwhelming feelings of fear and insecurity. Will you have a house? What furniture will you have? Will you be able to pay your credit card bills? What kind of lifestyle will you have once you are divorced?
Dividing assets can be one of the most difficult parts of divorce. Between sentimentality and the need for financial stability in the wake of a divorce, there is a lot on the line in these situations.
Property division can turn into one of the most contested parts of a divorce next to child custody. That's because, like child custody disputes, matters concerning marital assets are often emotionally charged, a fact that can make legal matters difficult to resolve amicably without help from an attorney. However, there are other factors that can make property division a particularly challenging legal process, including the complexity of the asset, how difficult it is to value the asset, whether the asset is partly the separate property of one spouse, and whether an asset has both marital and separate components that have appreciated or depreciated over time.
Divorcing couples in North Carolina have to worry about a number of issues, including property division. In addition to physical property, such as the family home and vehicles, couples may also have to divide up their accounts.