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Dealing with the financial implications of divorce

As a general rule, divorce is expensive. Connecticut residents who have been through the divorce process understand that splitting marital assets can be both frustrating and challenging without the proper support. This is why it is so important for both parties to fully understand the implications the move will have on their financial status, both currently and in the future. 

It is true that some couples are able to negotiate an amicable division of marital assets with limited court time involved, but this is not the case for every couple. This is why it is so beneficial for both parties to have a full picture of their financial status as a couple before negotiations begin. It is important to value marital assets and gain a solid understanding of financial obligations before proceeding to negotiate. 

There are a number of other issues to consider. Retirement funds, equity in a shared business and many other topics can arise during the course of a divorce settlement, and they should all be addressed in a straightforward way to determine what the best course of action will be for both spouses. This is particularly true in cases where children are involved. 

No one has ever said that divorce is easy, though it is often the best course of action for a struggling couple. Connecticut residents who are about to go through the process may benefit from seeking professional support in preparing for a divorce to ensure they are getting a fair deal. An equitable division of assets and liabilities should allow both individuals to move forward in their own lives toward a happier and financially stable future. 

Source: hcplive.com, "Going through a Divorce: What Now, Financially?", Bill Schu, Sept. 17, 2015

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