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Questions and Answers
What is one of the criteria for establishing the breakdown of a marriage according to the federal Divorce Act?
What is one of the criteria for establishing the breakdown of a marriage according to the federal Divorce Act?
- Having joint bank accounts
- Mutual agreement to divorce
- Living separately for 1 year (correct)
- Attending counseling sessions
What is an important step in preparing for divorce related to financial matters?
What is an important step in preparing for divorce related to financial matters?
- Organizing bank statements and credit card bills (correct)
- Ignoring financial details
- Selling all financial assets
- Hiding financial information
What should individuals consider when dealing with property and asset division during a divorce?
What should individuals consider when dealing with property and asset division during a divorce?
- Ignoring property division altogether
- Transferring all assets to a family member
- Hiding assets to avoid division
- Differentiating between marital and separate property (correct)
What is a recommended action to take to protect oneself during divorce proceedings?
What is a recommended action to take to protect oneself during divorce proceedings?
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Why is it important for individuals to establish individual credit during divorce?
Why is it important for individuals to establish individual credit during divorce?
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