Skip to content

Category: Assets and Debts

Assets and Debts

Dealing with Student Loans in a Nebraska Divorce

If you are getting divorced in Nebraska, there are three main areas where student loans may be involved.  Those three areas are: (1) when either party incurs student loans during the marriage; (2) when student loans that were obtained by either party prior to the marriage are paid off/down during the marriage; and (3) when the party paying child support desires to use their student loan payment as a deduction from their income in the child support calculation.  The first, and most common, situation involving student loans in divorce cases is when student loans are incurred during the marriage.  Before
Read More

Divorce Mediation for Division of a High Net Worth or Complex Financial Estate  

In Nebraska, pursuant to the Nebraska Parenting Act, parents are required to attempt mediation to agree to a Parenting Plan for their minor child(ren) in a divorce or custody action.    So, while many people are familiar with the mediation process as it relates to children, custody, and parenting schedules, people are less familiar with the idea of divorce mediation for financial issues.  One myth about divorce mediation is that you can’t use the mediation divorce process for large or complex financial estates.   This myth is not true.  You can mediate all of the terms of your divorce, including division of
Read More

Using a Quitclaim Deed to Transfer Real Estate in a Divorce

One of the easiest and most common ways to transfer property rights to another party in Nebraska is through the use of a quitclaim deed. This type of deed conveys the interest you have in a property without providing any warranties or guarantees about the interest you are conveying. If you acquired your home during your marriage, you probably own it together as a joint tenancy with rights of survivorship.  This means that the property passes automatically to a surviving spouse.  When you divorce, the property settlement you negotiate with your spouse will typically include one of these two options
Read More

How to Protect Your Premarital Assets from a Divorce

Protecting premarital assets from a divorce means understanding the difference between marital property and non-marital property — and taking the necessary steps to shield your non-marital property before divorce may even be a consideration. First, you need to know what constitutes non-marital property, which is: Property you brought into the marriage that was kept separate from marital assets Any gifts you received from a third party An inheritance you received that was kept separate from marital assets Any property designated as separate in a separation or settlement agreement in a divorce In 2017, the Nebraska Supreme Court issued a ruling
Read More

How to Keep Your Credit Intact Following a Divorce

It is not the fact of a divorce itself that can hurt your credit; marital status is not included in a credit report nor is it used to factor your credit score.  It’s when a divorce causes financial problems like late or missed payments that your credit can be damaged.  Keeping your debt down and your payments current are the two vital keys to keeping your credit score from being seriously dinged after divorce.  Here are some tips on how to keep your credit in good standing: Match your lifestyle to your income.  Adjusting to life on one income instead
Read More