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The challenges of financial planning in Connecticut after divorce

As in other areas in the nation, Connecticut is not without its share of couples who sever their marital ties. There are myriad divorce issues that can pose a challenge to spouses as they attempt to negotiate terms and agreements for the new life they will no longer share as closely as when they were married. Among those sometimes complex issues is the topic of finances. Many issues of a divorce case seem to center around money.

It has been noted that it might be helpful for those who are divorcing to consider developing financial strategies for their futures. Some say that it is very important to separate personal feelings from money matters. Doing so, it has been said, can lead to better financial decisions for those involved.

One financial adviser stated that spouses entering divorce proceedings should consider their finances before signing their names to a divorce decree. Taxes, assets, sources of income and expenses are all important topics of discussion that can be leading factors in the decision-making process of a divorce. Those who have children must also take note of the costs that are typically incurred in their upbringing.

Though many people seem to have emotional ties to their homes after a divorce, some find themselves facing unexpected financial burdens that could be alleviated by downsizing to a smaller residence. Full disclosure, calm negotiations and well-thought out financial planning can help soon-to-be former spouses in Connecticut reach an amicable outcome that protects the future financial security of all involved. There are times when it might prove beneficial to discuss one's individual case with a family law attorney who has experience in divorce cases.

Source: entrepreneur.com, "5 Essential Tips for Financial Planning After Divorce", Andrea Murad, July 10, 2015

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