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February 2018 Archives

How do courts divide debts, like credit cards and student loans?

When facing divorce, many people feel overwhelmed by all the potential changes. After concerns about child custody and visitation, questions about financial changes, including the division of marital assets and debts, are typically the most pressing. The greater your overall level of assets, the more reason you may have for concern. After all, you've become acclimated to a certain standard of living during your marriage.

How is maintenance determined in Washington?

A divorce or separation of domestic partners can be stressful - especially if it creates an extreme financial disparity between the spouses or partners. For example, if one party was the primary breadwinner and the other didn't work out of the home or perhaps had few marketable job skills, the latter may find him- or herself in relatively poor financial circumstances. In the state of Washington, a maintenance order can help to equalize such disparities.

Look for the positives when it comes to finances and divorce

People in Washington whose marriages are ending may wonder what their financial future will hold. After all, after the divorce is complete they will be living on a single income, and they may have been dealt a certain amount of the marital debt. Moreover, they will be responsible for their life expenses -- shelter, food, clothing, utilities and more -- all on their own. The whole situation may seem rather daunting. However, couples in Washington should note that there are financial benefits one could experience after divorce.

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