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Bucher Law Group, LLC
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Milwaukee County divorce attorney asset and property division

When you get married, you do not expect to get divorced from your spouse. However, people and circumstances can change. In some cases, the best decision for everyone in the family is for you and your spouse to end your marriage. However, divorce is a very emotionally and financially stressful event. It is no secret that getting a divorce is expensive, and it can take a huge toll on your current and future financial situation. Although it can feel like your entire life is being dismantled during your divorce, your finances do not have to suffer. Below are a few ways you can increase the chances of coming out of your divorce while maintaining financial security.

Understand Your Rights to Marital Property

One of the most important ways you can make sure you are in good financial standing after the divorce is having a complete picture of your marital finances. You can do this by making a list of what you and your spouse own in assets and property and by also making a list of what debts you both have incurred throughout the marriage. This way, you will know whether you will need to take on debts such as credit card balances, vehicle loans, or a home mortgage after the divorce. Once you know exactly what you and your spouse own in regard to marital property, you can begin to plan your asset division strategy to determine which assets are the most important to you and what you are willing to fight for. For example, you may want to stay in the marital home if you will be the custodial parent of your children. 

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Milwaukee County divorce attorney

Many studies and surveys have revealed that one of the biggest sources of arguments and contention in a marriage is financial matters. For some couples, finances are the reason that they get a divorce. Most of the time, married couples have at least a few intermingled financial assets, and sometimes, all of the couple’s financial assets are combined. Although this often makes for easier handling during the marriage, it can mean increased difficulty and arguments during a divorce. Figuring out what you should do with your finances during your divorce can be difficult, but it does not have to be. Here are a few common financial issues that may arise during divorce and how you can resolve them:

Determining Your Assets

Before you begin anything relating to separating your finances, it is important that you understand your current financial picture. To do this, you need a list of all of the assets that you and your spouse own. This may include:

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Waukesha County divorce attorneys

Getting a divorce can be one of the best things that can happen to a person, especially when they are miserable in their marriage. Yet while a divorce can be positive, it can also be extremely time-consuming and stressful. The division of marital property is one of the more important and often contentious elements in the divorce process. Everything you and your spouse own must be allocated to one of you, depending on whether it was acquired before or after you were married. Here are a few specific assets you must allocate during your Wisconsin divorce:

The Family Home

Determining what you will do with the family residence can be difficult for a lot of people. Many have an emotional attachment to their home, especially if they have had children grow up there. If one spouse has a particular attachment to the home, that spouse could either buy out the other spouse’s portion of the home or apply for a new mortgage on the home. If neither spouse wants to keep the residence, the easiest solution is to sell the home and split the profits.

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