Divorce does not stop the bills from piling up. In fact, contentious circumstances are bound to exacerbate financial burdens.
However, soon-to-be ex-couples must still face their current or outstanding financial obligations amid the challenges of processing their split. Thus, knowing what bills to consider and how to settle them can help reduce their emotional distress.
Establish the types of expenses
Marital costs vary depending on how divorcing parties lived during marriage. Other factors, such as having a child, may also impact what bills to pay.
While not exhaustive, the following list contains common items frequently confronted by divorcing couples:
- Rent or mortgage payments
- Utility charges, such as electricity, water, gas, and cable television, telephone or internet
- Child’s needs, such as school tuition, medical appointments and extracurricular activities
- Other monetary responsibilities, such as taxes, car payments and bank loans
Texas courts presume that both parties will be accountable for these expenses while the divorce is not yet final. Unfortunately, the reality of most cases is that one spouse earns significantly more than the other. So, it is crucial to determine ways to secure payment systems that are fair for both sides.
Temporary spousal support can be a payment option
Ideally, pending ex-spouses can develop a workable agreement to fund their household necessities and other commitments. But if their situation escalates into a contested divorce, the court may award a temporary order to assist the lesser-earning or dependent spouse in maintaining their standard of living.
Further, conditional financial relief is not a guarantee. The judge still considers relevant factors, such as both parties’ earning capacity, before making a fair decision. Sometimes, the reliant spouse may not receive the amount they hoped for. But it can still help bridge the economic gap while they learn a new skill to land a higher-paying job.
Financial strains can be temporary
Money problems are always stressful. However, they don’t have to last. Immediately and actively addressing it can prevent further troubles. As the process can quickly become technical, seeking sound professional advice proves valuable. Doing so can yield well-informed financial and legal decisions that can protect the family’s stability.