What Happens If You Encounter A Non-Marital Financial Hardship In The Middle Of Your Divorce?

Rock bottom is a moving target. People who have been divorced for a long time tend to look at the day they filed for divorce as a turning point; after that, things gradually got better. They have the advantage of hindsight, though. While your divorce is pending, it is painfully obvious that life has a way of kicking you when you are down. You still have to pay your share of the rent in an apartment where your estranged spouse lives without you, until the lease expires, or pay your share of the mortgage on the house where your estranged spouse lives without you, until your ex can refinance the mortgage in his or her name alone. Most of us live paycheck to paycheck; perhaps the constant financial stress was what destroyed your relationship with your spouse and led you to divorce. What happens when a garden variety financial calamity hits you when your divorce is pending? If you thought you were handling your divorce with aplomb, but then your financial situation got even worse, contact a Birmingham divorce lawyer.

Status Quo Orders for the 99 Percent?

In high net worth divorce cases, people have a lot of resources to sabotage the finances of their estranged spouses. They title their vehicles in the name of LLCs. They sell their vacation homes at a loss, just so there is less money for them to share with their ex when the divorce case settles. To prevent these antics, family court judges sometimes issue status quo orders, in which they prevent the parties from selling marital assets or taking on new debts until the divorce becomes final. It is enough to make you wish you had always been poor.

An Alabama man called Nathan recently described his predicament on Dave Ramsey’s podcast. Nathan is a frugal man, and during his marriage, he and his wife paid off all their debts and raised their savings account balance to $50,000. Then their relationship fell apart, and they got divorced. Sticking to his frugal ways, Nathan continued driving the same old clunker he had driven throughout the marriage; he let his ex keep the house and the savings. Both spouses just wanted to finalize the divorce quickly.

While the divorce was pending, Nathan’s old car kicked the bucket, and it only had a resale value of $2,000. His estranged wife said, “Tough luck. Apply for a car loan,” but Nathan was loath to do so, after achieving his debt-free goals. Dave Ramsey encouraged him to ask his lawyer to fight harder for a greater share of the marital property.

Contact Peeples Law About Divorce Without Risking Your Frugal Ways

A Birmingham family law attorney can help you if, despite your best efforts to spend money cautiously and to have a peaceful marriage and an amicable divorce, you have been unlucky with love and money.  Contact Peeples Law in Birmingham, Alabama today to schedule a consultation.

Source:

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