Divorce is a difficult and gut-wrenching decision that would keep anyone up in the middle of the night. In today's tough economic times, when one spouse may depend heavily on another spouse for financial support, or a couple is saddled with a mountain of debt, the decision to end a marriage or domestic partnership can seem particularly difficult, even if the marriage has become intolerable.
Regardless of how bad the economy is, or how broken a couple's finances are, it's important for a couple to understand that they do have options and that staying in a broken marriage does not have to be one of them. Spouses who stay at home or earn less than their counterparts may feel they are at a terrible disadvantage in this economy as unemployment rates climb. But there are options, and there are ways to prevent one person from carrying the entire debt load from the marriage.
Anyone considering divorce, with or without significant debt, should speak with an attorney experienced in family law, as well as tax law. It is important to understand all the consequences any type of debt discharge will have, not only in terms of the divorce, but also in terms of a couple's financial and tax obligations, according to FindLaw.com, a leading online source for legal information. Going through a divorce is difficult enough without the Internal Revenue Service notifying you that you owe taxes on unreported income or are being audited.
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For more information, contact the Family Law Offices of Renee M. Marcelle at (415) 456-4444, or online at http://www.familylawmarin.com/