Houston Debt Division Lawyer
Financial Issues in Houston Divorce
Stress and upsets over money is one of the leading causes of divorce in Houston. When a divorcing couple has shared debt, the court will not finalize the divorce until the parties have worked out an agreement regarding payment of the debt. The judge will intervene and make a decision for you if you and your ex spouse aren't able to resolve the issue on your own, and if this happens there is a good chance that you will not be satisfied with the result. By working with a Houston collaborative divorce lawyer, you and your former spouse can finalize the questions surrounding your debt in the most fair and effective way possible.
One of the best answers to marital debt is to find a way to pay it off so that you and your former partner can walk away from the divorce with a clean slate. This may be possible if you have investments that you could liquidate, or if you agree to sell your house. It could be that certain debts, such as a car loan, belong mostly to one of the marital partners. If there are several debts, you and your former spouse can each accept responsibility for paying a share of the total. A benefit of collaborative divorce is that it helps you preserve a working relationship, so that if you have to cooperate on paying a debt for months or years you can do so with a minimum of friction.
Collaborative Divorce Attorney in Houston
During the collaborative law process, your attorney will help you gather the documentation you need to establish responsibility for paying debts. You may benefit from involving an independent financial advisor to help you clarify any difficult questions. Fredrickson Law Group P.C. is dedicated to helping clients find fair and effective solutions to all the issues related to divorce, and the firm will work to ensure that you aren't left with a disproportionate share of debt from your marriage.
Contact a Houston debt division lawyer who can help you with the complex task of apportioning debt during a collaborative divorce.