Approximately 13.6 million adults act as custodial parents in the United States. For many of these parents, child custody arrangements are in place. If you are divorcing and working out a custody arrangement, chances are you have read a lot of information about child custody on the internet. Unfortunately, a lot of the information you have read is based on well-established misconceptions.
Here are a few of the most common myths about child support.
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Tips For Protecting Your Finances During A Divorce
One of the most challenging parts of a divorce can be money issues. Since you'll be dividing shared assets, dividing on spousal support, and paying court and legal fees, you may have concerns about protecting your finances during the process. Here are some things that you'll want to do to help ensure your finances will be in a good spot after your divorce is over.
Know Your Personal Finances
The first thing that should be done in a divorce is to gather all of the financial information you can about you and your spouse as a couple.
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How Do You Deal With Your Debt When You Get Divorced?
Divorce can be a challenging and complicated process, especially when it comes to dividing up assets and liabilities. One important issue to consider is what happens to debt after a divorce. Here are some things you need to know:
What Is Debt?
Debt can take many forms, including credit card balances, mortgage loans, car loans, student loans, and other types of debt. During a divorce, debt is typically categorized as either separate debt or marital debt.
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Divorce Lawyers: Here's What You Should Do To Win Your Divorce Case
Even if you have agreed to have an uncontested divorce, the process can still be financially and emotionally taxing. For this reason, you have to be adequately prepared for it. Unfortunately, most spouses overlook certain aspects of their divorce just because the circumstances seem a bit favorable. This shouldn't happen because your interests and rights could be violated, and you could minimize your chances of a favorable outcome. The process can be smooth and less expensive if it's properly handled.
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