For some couples, the question of asset division in divorce is complicated by debt that has been incurred by one or both of the spouses. Often this is a mortgage or a vehicle, but there are more and more couples facing significant shared credit card debt.
At Brasier Law we have the insight and experience to guide you to the solutions and time frames that will set you up for the best possible financial situation following the divorce.
Bankruptcy and Divorce Attorney — Directing the Division of Marital Debt in Bankruptcy
Every situation is different, and there is not a one-size-fits-all answer to handling these matters. Each case is framed by unique situations and circumstances that frame not only the dissolving marriage, but also the debt that must be divided.
When there is a high level of debt involved in the family’s finances, the process of dividing those assets and obligations becomes a matter of timing. It may be more beneficial for you to wait on the divorce until certain debts are resolved. In other scenarios, it may make sense to finalize the divorce first. Our lawyers will take a careful view of your finances to determine the best possible approach for your situation.
A large component of these decisions often revolves around the family home. If a pending foreclosure on a home loan is happening at the same time as the probable divorce, we will need to carefully assess a wise time frame for resolving both issues, so that they do not complicate each other’s situation.
Portland & Washington Debt Division Attorney
We take into account factors that many clients have not considered such as retirement accounts and other financial vehicles. We will also guide you in adjusting your estate planning goals and the wills, trusts and directives that are currently in place for the future.
We take the time to listen and understand your situation, taking every matter on a case-by-case basis. We will take the time to understand what is important to you and where your priorities lie. These goals will direct the customized manner in which we approach your case, advocating on your behalf to see you in the best possible position following the divorce.
To arrange an initial consultation to discuss your situation and how we can guide you to the options and solutions that will set you up for the future, please contact our law firm today at 503-855-4777.