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Posted By Fair Cadora, APC

Money is a common reason for couples to split, and one of the most frequently-occurring financial situations that leads to a marital dissolution is the acquisition of too much debt. This can create enormous financial and emotional strain on a family, sometimes becoming the last straw that leads to the couple splitting up.

When creating a divorce agreement either in or out of court, you will be forced to divide up the assets you have obtained during the marriage, but it’s also equally important to divide the debts you have also accrued as a couple. In order to do so, look at all of the bills your family receives in a month in order to get a better picture of where you stand financially. Your lawyer may also ask for you to bring copies of your financial records in to help them determine your financial position on your behalf.

How Will a Judge Divide Your Debts?

Ideally, your judge will attempt to divide your assets and debts equally in order to maintain fairness, but it will rarely if ever be an even 50/50 split. In reality, things are often a lot more complicated than that, so your judge will make some exceptions or decisions to balance things.

For example, a spouse that takes more of the assets may also assume more of the debt in order to balance out the agreement. Of course, things such as financial standing, income, and child custody will also play into these decisions. As a result, a fair and balanced agreement can be extremely difficult to come to.

Refusal to Pay

It’s also not unheard of for the spouse assigned certain debts in a divorce to either not be able to afford to pay those debts or to just outright refuse to pay them. When this is the case, your creditors do have the legal right to protect themselves and pursue the original party responsible for the debt, which may be the other spouse.

But rest assured your spouse cannot get away from their debt just by ignoring it. If they refuse to pay, you can petition the court to enforce the agreement, which means they must appear in court to explain why they aren’t paying their debt. The court also has other tools at its disposal, such as wage garnishments, bank levies, and more. If you have the ability to pay the debt, keep the proof of payment and you can petition the court for reimbursement from your ex.

Bankruptcy

If you cannot manage your debts or payments on your income, you may wish to file for bankruptcy in order to obtain financial relief. While this can alleviate some of your debts, it does not release you from your responsibility for child support or spousal maintenance.

It’s strongly advised that you do not attempt to complete the divorce process without the assistance of a skilled San Diego divorce attorney. At Fair Cadora, APC, our team has the skill and experience you need in your corner to protect your best interests throughout the process. Our attorneys have been honored with some of the highest distinctions available in the industry, including being named a Board Certified Family Law Specialist by the California Board of Legal Specialization.

Contact Fair Cadora, APC today at (619) 432-3555 to schedule an initial consultation!

Posted By Fair Cadora, APC

Divorces can be extremely strenuous times emotionally, meaning it is important to find a time and place where you can escape from the turmoil and relax. However, in some cases this is not the marital home. In some circumstances, a spouse may refuse to move out of the family home during a divorce for a number of reasons, but in some cases it’s because they do not want to give up their claim to their possessions.

In Times of Abuse

If you are seeking a divorce from an abusive spouse, whether the abuse is physical or emotional, the first thing you should do is immediately leave the home, and attempt to bring your children with you. The last thing you should do is subject yourself to abuse. If you’re worried about your claim to possessions, it’s important to know that your claim is not impacted directly as a result of you leaving. It’s also worthwhile to attempt to obtain some form of legal protection from your spouse, like a restraining order.

Asset Distribution

California is a no-fault divorce state, which means that as long as you believe your marriage is damaged beyond repair, then you may obtain a divorce regardless of what caused the damage. As a result, actions during the marriage often have little to no bearing on asset distribution or spousal maintenance awards.

It also has little bearing on how the assets are distributed during a marriage, meaning this will likely be a long and litigious process. A higher-earning spouse is more likely receive fewer possessions and have to pay a monthly alimony check, particularly if the couple is older or they have been married longer, reducing the ability of the lower-earning spouse to support themselves after the divorce.

Either spouse can request to keep the family home from the other, but will likely have to forego a number of assets in exchange for doing so, possibly including a much larger spousal support check to help the lower-earning spouse live in a new location.

If you need assistance with the asset distribution process during your divorce, contact the skilled San Diego divorce attorneys at Fair Cadora, APC. Our team of skilled advocates understands the importance a divorce takes in your life, which is why we make sure that you remain in charge throughout the process, and we fight in the most optimal fashion to protect the best interests of you and your family as a whole.

Get help from a Board Certified Family Law Specialist; call Fair Cadoara, APC at (619) 432-3555 now!

Contact Fair Cadora Today

We offer a free 30-minute confidential consultation to discuss your case

Send Us A Message or Call Us at 619-255-8500 to get started.

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The information on this website is for general information purposes only. Nothing on this site should be taken as legal advice for any individual case or situation. This information is not intended to create, and receipt or viewing does not constitute, an attorney-client relationship.