Divorce may seem to be about a relationship ending. However, divorce is primarily a financial parting of ways. Child and spousal support, debts, and marital property are all financial issues that must be resolved. Parties that neglect to protect their financial interests could be negatively affected for a very long time. Divorce and the financial decisions that occur alongside it influence both parties and their children.
What is Full Financial Disclosure?
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For most couples, marriage is intended to be forever. As such, couples work together in almost every area of their life to create a brighter future, including their finances. Unfortunately, when the marriage ends and they go their separate ways, it can be a complex process to untangle these arrangements, especially regarding investments.
Asset Distinction
One of the first measures the court will apply to determine how an investment is handled during the divorce settlement is the ownership distinction.
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It's time to begin looking at your belongings differently now that you are divorcing. Your marital property and debts are about to be divided up. How they will be divided depends on your state of residence, however. Read on to learn more.
What is Marital Property?
Marital property is defined as things you acquire or purchase after getting married. Anything you owned prior to your marriage still belongs to you alone.
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The separation or divorce process is usually emotionally challenging. But did you know that it's also financially draining? Most spouses assume this only happens due to child support expenses, but the process could also pose financial problems even when children aren't involved. Even if you don't have children yet and have decided to divorce, you are expected to offer spousal support, also known as alimony. Unfortunately, most spouses don't give this aspect the seriousness it deserves when divorcing.
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During a car accident, it's well known that you shouldn't admit fault. The moment you admit fault, it can be more difficult to later claim that you were not actually at fault for the accident. However, you might wonder what constitutes admitting fault after a car accident.
Don't Be Too Polite
The most common reason why an individual might admit fault for a car accident is that they apologize to be polite.
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