What happens to finances when you divorce?
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What happens to finances when you divorce?
At Divorce, Debts Do Not Part Even if the spouse who assumes responsibility for the property pays the existing mortgage, both spouses will still be obligated to pay the debt. The divorce decree cannot terminate your financial obligation to your creditor.
What is a wife entitled to in a divorce settlement?
A fair financial settlement might award the wife half the joint assets, including half her husband's pension entitlement and a significant proportion of her husband's income until he retires.
How do you get divorced when you have no money?
If you are wondering how to file for divorce with no money, you will be relieved to know your state has an indigent divorce or fee waiver procedure that will allow you to file for divorce and ask the court to waive all of the court fees associated with the process.
How do you end up paying alimony?
As with most issues in your divorce, you and your spouse can agree to the amount and length of time alimony will be paid. But if you can't agree, a court will set the terms for you. Unfortunately, having a court make the decision means there will be a trial, and that can cost you a lot of time and money.
