Should a divorcing couple use the same attorney?

Should a divorcing couple use the same attorney?

Representing both of you at the same time would be considered a conflict of interest for an attorney. While there is no situation where one divorce lawyer could represent both you and your spouse, a single attorney can help you finalize your divorce.

How do you hide money in a divorce?

Here are some of the interesting ways he might be hiding cash or assets from you:Buying pre-paid gift cards or getting cash back while shopping with joint money. Opening college savings accounts in your child’s name. Buying and collecting assets disguised as hobbies.

What assets are considered marital assets?

Understanding Marital Property Bank accounts, pensions, securities, and retirement accounts are also included; even an IRA, which is individually owned by law, is marital property if earned income is contributed to it during the course of a marriage.

Can my wife’s credit card debt affect me?

Generally speaking, you cannot be held liable for credit card debt belonging to someone else, be it your child’s, spouse’s or anyone else’s. However, this can change if you co-signed on the credit card debt or acted as a guarantor for the person in debt.

Can a wife be held responsible for husband’s debt?

Generally, one is only liable for their spouse’s debts if the obligation is in both names. But, unless both the husband and the wife are on the credit card account (even if only as a co-signer), one spouse will not be held liable for the obligation of the other on that account.