The same analysis applies to debts. Debts incurred prior to the valuation date are generally marital, regardless of who incurred them. Debts incurred after the valuation date are generally separate. If your spouse is charging up the credit cards like a drunken sailor, it is in your interest to expedite the divorce proceedings to lock in the default valuation date.
Janet Rowles is a mediator specializing in high conflict and emotionally-difficult situations. In addition to doing divorce, post-divorce, unmarried relationship dissolution, and all types of family mediations, Janet does small and large group work including circle-keeping in Minneapolis public schools and facilitating large-groups such as condo as ... more
To ensure you cover everything, create a master list of all your assets and possessions—regardless of whether an item is thought to be yours or your spouse’s. The master list should include all real property (house, rental properties, vacation homes), personal property (books, DVDs, furniture, artwork, jewelry), vehicles (including boats, motorcycles, ATVs), bank accounts (joint and separate, checking, savings), credit cards, retirement accounts, life insurance policies, annuities, stocks and other financial products. Account for everything you own.
Most courts give parents the opportunity to work with independent evaluators soon after the case is filed to see if they can reach an agreement about custody, parenting time, money and property. The two types of ENE are: Financial ENE (FENE) to settle financial disputes and Social ENE (SENE) to settle custody and parenting time issues involving their children.
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