Till Debt Do We Part?

Till Debt Do We Part?

In community property states, both spouses are responsible for any debt that has been incurred while they were married. 

That means if one spouse doesn’t pay an outstanding credit card debt accumulated during the marriage, then the other one must pay, or risk credit damage and collection actions. The credit card company doesn’t view it as “his” or “her” debt. Instead, they see one debt, and if they can’t collect from one party, they will try to get the entire balance from the other party.

To read more about divorce and credit card debt, click on the following link:

http://www.foxbusiness.com/personal-finance/2013/07/12/divorce-and-card-debt-in-community-property-s…

However, if you are divorcing in Rhode Island, it is important to note that Rhode Island is not a community property state, but instead is an equitable distribution state.

In Rhode Island, marital property is considered to be all property acquired during the marriage by both partners. If there is a divorce, the court will aim to distribute one half of this property to each spouse unless the court finds such a division to be inequitable or unfair. In order to decide this, the court looks at various factors such as length of marriage, age, health, employability, other sources of income and any debt.

Are you a resident of Rhode Island and considering divorce?

The experienced lawyers at Law Office of Jeremy W. Howe, LTD. and the mediators at Partners In Mediation offer you two options in order to proceed with your divorce or other family disputes and problems. Learn about these options and which would work best for you by calling or contacting Jeremy Howe for a free comprehensive telephone consultation. Attorney Howe and his team of family court lawyers have been providing quality divorce and family representation in all Family Courts in Rhode Island for nearly four decades. He and his co-mediator have mediated hundreds of divorce, family law and elder law cases across the state of Rhode Island.

------------------------------------------

The Law Offices of Jeremy W. Howe, LTD. Providing Family Law and Elder Law Services to Rhode Island since 1974.

"We Make Elder Law House Calls!"

Marital Property Law and Divorce in Rhode Island

Have you signed off on ownership to a marital property and think that now you are free from worry about any future mortgage debt obligations to the property? Well, you might want to continue reading.

During a divorce, once a spouse signs his or her name off of a property title, that does not mean that the spouse is off of the mortgage loan as well, contrary to what many people seem to believe.

It is important to know that creditors, including the mortgage lenders, are not part of the divorce proceedings. While a spouse is legally allowed to sign his or her name off the deed to a home as part of the divorce settlement, the lender does not have any obligation to remove the spouse’s name from the mortgage loan. However, a bankruptcy filing can change these circumstances.

Click on the following link to read more about divorce and what it means for mortgage debt and bankruptcy:

http://www.foxbusiness.com/personal-finance/2013/07/02/how-does-divorce-affect-bankruptcy-and-mortgage/

To learn more about the complexities of property division in a divorce, and to see if mediation is an option for your divorce, speak with a family law attorney at the Law Offices of Jeremy W. Howe, LTD., in Providence, Rhode Island.

The experienced lawyers at Law Office of Jeremy W. Howe, LTD. and the mediators at Partners In Mediation offer you two options in order to proceed with your divorce or other family disputes and problems. Learn about these options and which would work best for you by calling or contacting Jeremy Howe for a free comprehensive telephone consultation. Attorney Howe and his team of family court lawyers have been providing quality divorce and family representation in all Family Courts in Rhode Island for nearly four decades. He and his co-mediator have mediated hundreds of divorce, family law and elder law cases across Rhode Island.
------------------------------------------

The Law Offices of Jeremy W. Howe, LTD. Providing Family Law and Elder Law Services to Rhode Island since 1974.

"We Make Elder Law House Calls!"

Baby Boomers and Divorce

Baby Boomers are divorcing in record numbers. 

In 1990, 1 out of 10 people over the age of fifty divorced. Ten years later, a surprising to 1 out of 4 people aged fifty years or older, are choosing to end their marriages.

While the idea of divorcing after age fifty may seem especially painful because of old memories or fears of being alone later in life, recent research shows that the age and experience of Baby Boomers, makes them better equipped to handle the challenges associated with divorce. In fact an AARP study shows that 3 out of 4 Baby Boomer divorcees say that they made the right decision in choosing to divorce.

For Baby Boomers who may suddenly find themselves single again, there are some general principals and tips to help cope with life post-divorce.

To read tips for divorced Baby Boomers and to view an interesting info-graphic on the new “gray” divorce trend, please click on the following link:

http://www.huffingtonpost.com/allison-pescosolido-ma/the-gray-divorce-tips-for_b_3454624.html

------------------------------------------

The Law Offices of Jeremy W. Howe, LTD. Providing Family Law and Elder Law Services to Rhode Island since 1974.

"We Make Elder Law House Calls!"