Several Questions Those Considering Divorce May Need Answered

The process of filing for divorce can be an intimidating and stressful experience. Often, much of the stress from divorce will be due to individuals having a fairly limited knowledge and experience with this process, which can lead to a lack of knowledge. Once you have a stronger understanding about the basics of divorce proceedings, you should find that you are better prepared to navigate this seemingly confusing legal process.

What Happens If You Had Large Assets Before You Got Married?

There are many individuals that may have been fortunate enough to have accumulated large assets prior to their marriage. Often, these assets can include businesses, houses and other high-value possessions. Fortunately, assets that you owned prior to the marriage will be protected during these proceedings. However, it may be necessary to prove that you possessed the asset prior to the marriage starting, and this may require the divorce services of an experienced attorney.

What Is Considered When Determining Spousal Or Child Support?

The prospects of paying burdensome spousal or child support can seem like a threatening prospect of your divorce. However, the courts will handle this aspect of the separation as carefully as possible. When it comes to spousal support, it will be the burden of the spouse claiming the support to prove it is needed, such as a spouse that was a stay-at-home parent throughout most of the marriage. If the courts determine that the spouse is unlikely to be able to support themselves immediately following the divorce, they may require spousal support to be paid on a monthly basis. However, the exact amount of this support and the length of time that the payments will be required can vary depending on the financial condition of both parties.

What Are The Impacts Of A Divorce On Your Credit?

It is commonly assumed that a divorce will always have a detrimental impact on one's credit report. However, divorce is not directly tied to your credit rating, which should be a relief. Unfortunately, if you have joint debt with your spouse, their failures to pay for their share of the debt can be reflected on your credit score. While you may not like the idea of having to pay for your ex-spouse's share of the debts, it will prevent your credit from being adversely impacted. Also, it is possible to petition the courts to force the other spouse to compensate you for these missed payments, but you will need to thoroughly document these payments for this option to be viable.