what to be aware of when divorcing your spouse
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what to be aware of when divorcing your spouse

Every marriage is not meant to last forever. No matter what the reasoning behind the divorce, it is important to have legal representation for each side. I almost lost everything because my former spouse said that he was taking care of things and that he would be fair about how the assets were divided. It took several weeks for me to find out what he was up to. It was then that I hired my own attorney and got what I deserved. You should never attempt to go through a divorce without a lawyer working on your side. On my site, I have listed several of the issues that can get overlooked if you are inexperienced with divorce documents and proceedings.

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what to be aware of when divorcing your spouse

Losing The Farm: How A Farm Bankruptcy Doesn't Mean You Have To Lose Everything

Joy Johnson

More and more farmers are having a rough time making their family farms last into the twenty-first century and beyond. Reported foreclosures on family farmers continue, and some farmers file for bankruptcy before they lose the farm to foreclosure. If you are a farmer who is currently caught between a rock and a hard place, you may want to file for bankruptcy too. Here is how a farm bankruptcy does not mean you have to lose everything that generations of your family worked so hard for.

If Your Debts Are Lower Than Most, Sell off What You Can

If the amount of debt you have is not as insurmountable as it could be, you may be able to survive on less. A bankruptcy lawyer would advise you to sell off chunks of family land, since land is still one of the most valuable commodities you can own. You do not even have to sell everything. You could sell "the back forty" (acres) and keep "the front forty." This may make your farm a lot smaller, but it also provides you with a more manageable chunk of farmland and plenty of cash to pay your creditors. If your debts are a little bit more than that, sell off as much of your land that you can reasonably afford to sell and still remain a farm family.

If Your Debts Are Really High, Considering Saving the Family House First

Some farmers owe close to a million dollars or more. If this applies to your situation, you may want to consider saving the family house first and sacrificing everything else. This usually means saving the barns, the house, the land on which the structures sit and maybe just enough cattle or other livestock to be a "hobby farm." At least you would still maintain the home in which generations of your family were raised, and you would still be farming but not as much. In this instance, you would sell off almost all of the acres you have, except for maybe ten or so, and most of your equipment and livestock too. It is not the best thing, but it beats losing the farm completely to foreclosure and debts you cannot ever hope to repay.

File for Bankruptcy, but Keep the House 

If you own the house free and clear, you do not have to sell it. In fact, you do not have to let go of your family's house even if you file for bankruptcy. You can keep your family's home, with or without its mortgage, and continue to reside on a very, very small piece of property while everything else around you is bought up, torn down, and remade. The bankruptcy laws in most states will not force farmers to become homeless when the farmers have to sell off all of the rest of their property and belongings.


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