When you get married, you expect it to last forever. Unfortunately, there is no way to guarantee that things are going to work the way you want them to. Many couples end up in the middle of a divorce battle fighting for what they believe is right. Sadly, many end up making costly mistakes that could end up jeopardizing the end result of their case. If you are in the middle of a divorce case, avoid making one of the following three mistakes.
Not dealing with your marital debt.
Just because one of you incurred the debt, that doesn't mean the other party isn't going to be responsible if their name is associated with that debt. Creditors can, and will, come after both people to make sure they get paid. Even if the terms of your divorce say that the other person has to pay off the debt, the creditor is going to pursue whoever they have to when the other person isn't paying. You need to make sure all debts are transferred into the name of the individual responsible for paying the debt. This will save you a lot of hassles and headaches down the line.
Trying to maintain a lifestyle that you cannot afford.
Just because you were able to afford a $200,000 house and $50,000 vehicle when you were married, that doesn't mean you are going to be able to afford all of those same things now that you are going through a divorce. Things change and so do your finances. You are going to have to make some changes to your lifestyle to keep up with your normal bills, otherwise, you are going to find yourself filing for bankruptcy and losing everything you worked for over the years.
Not taking care of insurance.
Many individuals forget that their ex is on their insurance policy. For those going through a divorce, make sure to take your ex off your policy so you don't get stuck paying for their insurance every month. If you were the one on the other person's policy, you will have to figure out how to get insurance on your own.
By not making one of the mistakes above, you can make sure you aren't taken advantage of or lose out on something that you deserve. Divorce cases can be painful enough. Don't make it worse than it has to be by doing something you shouldn't. To learn more, visit a website like http://www.carvajallaw.com/.Share
8 February 2016
People with an eye for property can make a great deal of money buying a house, fixing it up and then selling it for a profit. However, there are many legal issues involved in this kind of pursuit. I am an attorney with experience in real estate, and I have helped many clients learn the legal details involved in flipping property. This blog will help you understand what you need to know when you are buying and selling a home as well as information about paying taxes on money made and property owned. Flipping houses can be a very profitable activity as long as you know how to do it legally.