Divorce and Finances
How do divorce and finances relate to one another? When a couple decides to legally end their marriage, they also need to work out the financial details.
Helpful Information About Divorce and Finances
At LoveToKnow Divorce, find the information you need on this all-important matter. Should you declare bankruptcy before you divorce? Are you wondering whether signing a prenuptial agreement is in your best interest?
If you are a business owner, how does this affect your decision to divorce? What do you need to know before you agree to a divorce settlement? How does the Innocent Spouse Rule apply to joint income tax returns? You can find the answers to these and other important questions right here.
An important consideration on divorce and finances is how the property accumulated during the marriage will be divided. Some people try to protect their assets from being included in marital property by attempting to hide it. How the couple's property is divided on divorce will depend on where they live. In the United States, some portions of the country operate on the community property principle where marital property is divided on a 50/50 basis.
Other parts of the country aren't community property states and the rules are different there. The marital property is divided in an equitable manner, which means a judge will determine what is fair in the circumstances. The couple may need to use a spreadsheet to figure out what they own and how to divide it. Get tips and advice about financial matters and divorce by checking out the informative articles at LoveToKnow Divorce.