How do I manage our debts in a collaborative divorce?

In the state of Alaska, managing debts in a collaborative divorce is an important part of the process. The parties involved must work together to create a fair and equitable distribution of assets and liabilities. The first step in managing debts in a collaborative divorce is to ensure that all of the debts have been accurately identified and properly valued. This includes assessing any joint debts that were incurred during the marriage. Additionally, it is important to consider any credit card debts, student loans, car payments, mortgages, and any other debts that may exist. Once the debts have been properly identified and valued, the parties should negotiate who will be responsible for paying each debt. This negotiation should be done in a collaborative manner, with the goal of both parties being satisfied with the outcome. In some cases, this could involve one party taking responsibility for all of the debts. In other cases, the parties could work together to come up with an arrangement for each debt to be shared. Once a debt agreement has been reached, it is important to ensure that it is in writing. This will help to protect both parties from any potential misunderstandings or issues surrounding the division of debt. Additionally, it will help to provide proof of the agreement in the event that there is an issue with debts not being paid in the future. The collaborative divorce process can be complex, but with careful negotiation and planning it is possible to create a fair and equitable debt management strategy. The goal is to ensure that both parties take responsibility for their debts while continuing to move forward with their separate lives.

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