Due to the complicated nature of divorce, each case requires specialized legal attention. There are a number of variables that determine the outcome of any court case. Nevertheless, those filing for a divorce in Wisconsin frequently ask the following questions during their first consultation. How long until the divorce is final? It largely depends on…
Getting a divorce costs money; more if you and your spouse are having trouble reaching an agreement about division of property, child custody or other issues.
When your financial situation also dictates the need to file for bankruptcy at the same time as your divorce, the order in which you file for them can either wind up saving you money or costing you much more in the long run.
This article will explore potential costs you might face for your divorce and bankruptcy, and offer tips on how you might save money as you move toward a fresh start, both personally and financially.
There is no doubt of the emotional impact when considering a divorce. Couple this with financial issues and your level of stress can fly off the charts. Considering money issues are often a leading factor in divorce, it isn’t surprising so many Wisconsin residents end up wondering which to file first: divorce or bankruptcy.
The good news (and the challenge) is this: if you and your spouse are able to have a calm and focused conversation about the timing of these two very significant events, you can potentially save yourselves a lot of money and frustration later.
This article will offer a number of things to consider when determining if it’s better to file for divorce or bankruptcy first in Wisconsin.
According to a recent study of divorce in Wisconsin compiled by the Wisconsin Department of Health Services, there were a total of 16,635 divorces in Wisconsin in 2011. In the same year, the Wisconsin divorce rate was 2.9 percent—far lower than the 2010 national average.
I suppose that’s something we can be proud of.
But if you’re about to undergo this difficult and painful process, these numbers likely don’t provide you any comfort.
The reality is that divorce is a complicated and potentially messy thing, and will likely rank high among your life’s most trying experiences.
As an experienced Wisconsin family law firm, we meet many individuals, from all walks of life, who, for whatever reason, have chosen divorce.
But no matter who they are or what their reason may be for seeking a divorce, there are always several key points we stress to potential clients.
As a Beloit Family Law firm focused in family and divorce law, we’re familiar with the myriad stresses, concerns, and questions voiced by clients who are in the midst of a divorce.
In truth, no matter how agreeable a couple may be about separating, divorce is still a hugely complicated process that creates anxiety around nearly every aspect of a client’s life.
But among those questions clients have for us while counseling them through divorce, there’s always one that, when answered, at least partially alleviates the stress that comes from being unable to see the light at the end of the tunnel:
“When can my divorce be finalized?”
Although divorce is the result of roughly one in two marriages in the country, it is by no means an easy or simple proceeding for those involved. While the public perception of divorce sees the action primarily as the severing of romantic ties between individuals, it’s important to understand that it also severs the financial partnership forged though the institution of marriage.
If not handled carefully by an experienced divorce attorney, divorce proceedings can have devastating consequences on the finances of either party involved. Because of this risk, it’s imperative to avoid rushing through the separation process no matter how emotionally taxing it might appear to be. Here are some important guidelines to follow if you wish to keep your finances secure for life after the divorce.
1. Pay Close Attention To The Location Of All Accounts
Do not trust your spouse to honor whatever verbal agreements you might have made in preparation for the separation. Although you may have mutually agreed upon the division of assets outside of a legal environment, it is our family law attorneys’ experience that having complete confidence in the autonomy of one’s accounts, debts, liabilities, assets, and property is paramount to ensuring your finances are retained in full after the divorce is finalized.
Divorce can be an arduous and potentially damaging experience to those who enter into it without proper preparation. Fortunately, there’s an option for couples to finalize their agreements in a legally-binding separation agreement prior to filing for divorce. Here are just a few of the key components to what make these documents useful during the broader separation process.
1. Separation agreements make divorce much easier to initiate
Martial separation can be an extremely draining experience to both parties involved for a number of reasons. Many of these issues arise from the task of organizing asset ownership and the divvying up of property when a couple decides to separate whether it escalates to an official divorce or not. When such decisions are not made formally in writing, disputes can often erupt which only serve to complicate and prolong the separation process.
Divorces can be a particularly difficult legal endeavor when those involved struggle to separate the emotional aspects of the process with the material side of separation––specifically when it comes to dividing finances, debts, property, and other tangible assets. Many of us have witnessed friends or other family members endure drawn out divorce proceedings involving…