A marriage breakdown is emotionally draining, and it can be especially so when it comes to the financial picture. Arizona residents going through a divorce and who have been carrying student loan debt may be wondering if their soon-to-be former spouses may be responsible for helping them to pay those loans since the division of property includes not only assets, but debts. If the student loan was taken out before a person got married, he or she is responsible for paying it; however, if that loan was secured during the marriage, it can become complicated.
When a married couple in Arizona decides to end their relationship, it is typically understood that there will be numerous issues to resolve before a settlement can be achieved. If the couple has children together, child custody and support issues will no doubt be high priorities. Property division is also another common main concern in divorce. This state operates under community property rules, which can sometimes spark a hidden asset problem if one spouse tries to gain the upper hand in proceedings.
The end of the year is a time for celebrating the past 12 months and looking ahead to the future. A lot of people in Arizona use this time to think about their goals for 2020 or which resolutions they should try out this year. Some, however, are planning something a little more significant. As New Year's Day brings in a brand new year, a significant number of people will be filing for divorce.
The end of a marriage is going to bring significant changes to a person's life, especially regarding his or her finances. It can be especially damaging for a person who is older, leaving him or her fewer years to recover financially from the divorce. A divorce involving two people age 50 or older is called a gray divorce, and it is a growing trend in Arizona and across the country.
Some couples who are unhappy are deciding to end their marriages even if they have been married for many years. Divorce over the age of 50 -- or grey divorce as it is known -- is becoming more common today. In fact, overall divorce rates are declining in the country except for couples in this age range. Arizona spouses in this situation may wish to sidestep the possible financial ramifications of divorce later in life by avoiding certain mistakes.
Social media has become a ubiquitous part of modern society. Certainly, Facebook, Instagram, Twitter and other popular online communities can make communication with friends and family easy and fun, but for persons going through a stressful situation, such as divorce, social media may create stress and feelings of failure. If an Arizona resident is considering divorce, he or she may want to think about how to handle social media during the process.
Every family is unique and most Arizona families encounter challenges in their daily lives that require coping skills to help them rise above and move forward. Divorce definitely falls under that category. In fact, it is often one of the most trying situations a family can experience.
Money is often an area of concern for many Arizona couples. When it comes to the decision to divorce, it can become even more of a concern. As expenses increase, income usually remains the same. In order to avoid problems, one will want to take specific steps to protect his or her credit.
When Arizona married couples decide to sever their ties, those who have children together often encounter challenges regarding future co-parenting plans. Divorce can be stressful enough as it is without worrying about all the potential problems that might arise as two former spouses try to peacefully work together to raise children from separate households. The good news is that many people say that taking advantage of advanced technology has helped them keep stress to a minimum in their post-divorce parenting lives.
Financial stability is important to most Arizona families. Whenever divorce enters the picture, financial stability can become a concern. Most husbands and wives have joint credit accounts ,which may include mortgages, car notes, credit cards and more. While who is responsible for which debts will be addressed in the divorce decree, creditors will look to both individuals for repayment of the joint debt.