Aaron & Aaron, Attorneys at Law
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Concerns about finances during divorce

South Carolina residents who are getting a divorce and who are homeowners may need to make a number of financial decisions. This might be particularly difficult if they have not been responsible for many of the financial decisions in the marriage.

For example, they might wonder whether they should try to keep the house when the issue of property division arises. This might seem like a good idea if the mortgage has been paid off, but it may not be. If the house is large, it could be expensive to heat and cool. There are also other costs to consider such as overall upkeep.

People should get a copy of their credit report and review it. Dividing the credit records from the other spouse is an important step, and a person can also see whether the spouse has taken out lines of credit in their name. Individuals should also think about retirement. It might be possible to draw on a spouse's Social Security benefits even after divorce.

The end of a marriage can be a difficult time, and concerns about financial stability and the well-being of children can create even more stress. For example, a person's spouse might be reluctant to share information about assets or might even try to hide assets. If there is a prenuptial agreement, one spouse might try to challenge its terms. A spouse might even try to make what initially looks like a favorable offer but is not. An attorney may be able to help an individual work through some of their concerns about finances and create strategies for dealing with the challenges ahead. A good first step might be to visit an attorney with as much documentation as possible regarding the family finances.

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