No one plans to get divorced or separated. It’s not what a couple hopes for when they say their vows. And it’s definitely not what they envision when opening joint bank accounts, purchasing a car, getting a dog, or buying a house together.
But if a pair does end up divorcing, figuring out what will happen to joint assets like these can be confusing and painful—at a time that’s already an emotional rollercoaster.
Taking out a mortgage is the single biggest financial commitment that most married couples make. Collectively, Americans owe $9.1 trillion on their mortgages, which make up by far the largest share of consumer debt.Read more