Financial liabilities to consider in divorce

The liabilities are things that affect both of you financially. A few things you need to consider are:

1.  Tax liabilities from any financial settlements, such as Capital Gains Tax (from selling your home) etc.

2.  Any loans or debts can become a liability if it is not clear which partner owns it. This includes bank loans, credit card debts, car loans etc.

3.  If the couples are in business together, then the couples may even need to consider the option of bankruptcy.

4.  The mortgage is a huge liability as very rarely does one partner just agrees to hand things over to the other. Splitting the mortgage is often a messy process. Ensure that the mortgage company does not take advantage of your personal situation.

Take the Fisher Divorce Adjustment Scale at www.DivorceSeminarCenter.com

 

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