Guest post regarding divorce and property division

I was approached by a representative of the Debt Consolidation Care Community about the submission of an article for my blog. Not wanting to stifle others in their desire to express their thoughts, I present to you this article by Jason Holmes.

As the article indicates, the laws in states vary in how divorce and property division are handled. Pennsylvania is an equitable distribution state. States will also vary as to how marital property is defined, i.e. what things are statutorily included and excluded from a marital estate. It is important to consult an attorney in your area if you have any specific questions.

Please feel free to post any comments about this piece and let me know if you are interested in posting your own family-law related article.

– Mike
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How to handle divorce and property division

Any kind of court cases are complex matters and when it comes to divorce, it becomes all the more complex as there are several rules in regards to both the spouses and these laws again vary according to the states. Even various things are included into the divorce case and also the debts. So, it may be best for both of you to become debt free before you can actually file a divorce cases otherwise, it can make matters more complex.

Divorce and property division

In order to handle your divorce case easily, it is best for you to take the advice of a divorce lawyers. In addition to that, you will have to understand the different divorce laws of the state you are in:

1. Equitable distribution – There are mainly two types of states in regards to the divorce laws. In one type, there is equitable or rather fair distribution of money and any type of property. In another, the community property states, there is equal distribution of money and property between the spouses.

2. Community property states – As said, in the community property states, the property is divided equally. The different community property states are Alaska, Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington, Wisconsin and Puerto Rico. In these states, both of you are going to get equal property distribution. In the similar fashion, you can also be help responsible for paying debt incurred buy or spouse. Thus, it becomes really important for you and your spouse to become debt free from the beginning. For more information on paying off your debts, feel free to visit Debt Consolidation Care.

3. Separate property – Separate property are those which has been acquired before marriage. For example the gifts, court awards, any inherited property, and also any kind of pension proceeds. Any of the property which is acquired as separate property remains separate. However, there are some separate property’s too that can become a community property, such as any business that you had started before marriage but has been sustained by the marriage.

4. Co-signed debts – You may be held responsible for any co-signed debts and nay co-signed savings accounts or certificate of deposits. So, you need to look into such matters before you file for divorce.

So, the best ways in which you can go through a property divorce is, understanding the whole divorce process. Divorce is itself a painful process and it creates stress in your life. So to avoid making the whole thing more bitter, it is important for you to follow the right steps.

Jason Holmes is a regular financial writer associated with the Debt Consolidation Care Community and is a contributory writer with various other financial sites. His expertise is mainly on the different aspects of the debt industry. He has also written different e-books through which he tries to impart simple solutions to help people get out of debt.