During divorce, a major aim is focusing on their financial goals so they can ensure a fair deal in their property settlement. A large property settlement, though, will be greatly diminished if it is countered by excessive debt.
With debt, comes many questions the divorcing couple will have to face. Who incurred the debt? Was some of the debt incurred before the marriage? Did some of the debt grow (for instance, by interest) during the marriage? And did the couple make decisions together that increased the amount of marital debt? The division of marital debt can bring numerous legal complexities.
If you are divorcing and have questions and concerns regarding the division of marital debt, contact Neal Ashmore. Our firm has experience in dividing marital debt like:
- Mortgages and jumbo mortgages
- Credit card debt
- Debt to medical providers and other businesses
- Car payments
- Past-due taxes
In addition, we work closely with a certified divorce financial planning expert whose certifications includes expertise in finance, fraud, debt, and ethics.
If you are divorcing, make sure your rights regarding marital property and debt are fully protected. Don’t put your assets at further risk, contact our firm and ask to speak to one of our attorneys.