When property is divided during a divorce, it’s important that you understand how your situation is changing. Any investments are sure to be discussed during this time, so make sure you have a firm grasp of your finances before heading to court.
Here are some points to consider in regards to investments and divorce:
— Be aware of how your tax situation will be impacted. Will accepting a particular type of investment impact your tax situation down the road?
— Work with an accountant. This is the best way to ensure that you understand the impact of each potential decision the court could make.
— Understand the laws in your state. Each state has laws in regards to investments and divorce, so you should become familiar with these.
— Equal division does not always mean fair division. For example, two assets with the same value at the present may not have the same worth.
There is no denying the fact that you need to answer many questions during a divorce, including those related to investments. The sooner you address these the better off you will be.
If you have any questions about your situation, you have come to the right place. We know that the divorce process is challenging. We also know that you want to get a fair shake in regards to your finances and investments.
It’s our goal to work on your behalf to help you put your divorce in the past. To learn more about divorce and many divorce issues, please visit our webpages on the subjects.
Source: U.S. News & World Report, “10 Tips for Handling Investments and Divorce,” accessed July 08, 2016