What happens in a divorce proceedings of a husband and wife who have children but NO assets?

Aug 8, 2012 by

Question: 

what goes on in a divorce proceedings of a husband and wife who have children but NO assets?

State: 
Wyoming

Answer: 

Great question,

If there are no assets, then there is nothing for the court to divide. And if you and your spouse can agree on a custody arrangement, there is not much left for a court to do besides grant the divorce, and determine child support. When you say “no assets” you had better be certain that there are NO assets. Remember cars, pension benefits, and retirement accounts are all assets. You also have to be careful about any debt that is incurred. Generally speaking (although there are exceptions), both spouses are responsible for debt incurred during the marriage no matter who incurred the debt.

Good Luck!
Wendy Jaffe
 
 
 

Wendy Jaffe and Divorce.com can only provide general information about divorce. DO NOT RELY ON MS. JAFFE’S ADVICE ALONE. Before acting on information provided by Ms. Jaffe or by Divorce.com, talk to an attorney first about your particular facts and the law of your state. By submitting your question to Divorce.com, you are not creating an attorney/client relationship with Ms. Jaffe or with any of the other attorneys listed on this site. 

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