I was recently involved in a car accident. Unfortunately, since it was my first accident, I was scatter-brained and anxious. What I did not realize at the time was that the actions you take immediately after the accident can affect a personal injury case and the outcome of that case. I wanted to find a way to share my experiences and mistakes with other. Since the Internet is so popular, I figured this would be a great way to do so. While you likely aren't planning on being in an accident soon, if you are, hopefully you remember some of the tips I share on this website.
Whenever possible, it's a good idea to take stock of your circumstances before pursuing the divorce process. This is the point at which you need to be aware of what potential complications are present in your life, whether physical, emotional, or financial. There is always a way to overcome these challenges, but your individual circumstances will dictate the right action to take.
Whether you share a checking account with your spouse, or both names are on every financial document you own, joint accounts create several problems. Most notably is the closure and/or equitable division of each account's contents as part of the divorce settlement. This might seem like a minor inconvenience, until you are asked to provide detailed documentation of all transactions concerning any joint account.
Cosigned Deeds and Leases
Whether your marital residence was owned or rented, if both names are on the documents for that property then you're both on the hook for it. Leases are relatively easy to deal with as compared with owned property since they have a fixed duration and can be renegotiated with the owner once that time expires. Deeds for buildings, houses, land or other real estate, however, can be more complicated, as these each are considered assets by the state and as such must be equitably divided if no agreement can be reached.
With the exception of your child or children, few things complicate a divorce more than a business you and your spouse hold equal shares in. If one of you can be convinced to sell their stake in the business, this can be resolved in a fair and reasonable manner, but that isn't always as easy as it sounds. Whenever possible, try to maintain a cool head during any discussion of a shared business, since the outcome will impact any employees, clients, vendors, or customers you have.
Simplifying the Process
Be up front with your divorce attorney about any of these complications before you retain their services. Springing them on a lawyer later on will only serve to hinder their ability to help you reach a resolution. Avoid clinging to anything you don't have a legitimate need or interest in keeping, such as a business you started just for your spouse. It's often easiest to reach an equitable solution if both parties do their best to refrain from vindictive behavior or taking actions simply out of spite. You'll feel better in the long run, and there will be less bad blood between you and your former spouse.
Contact a divorce lawyer near you for more information.