Distributing assets improperly can affect one's financial future


Every decision has consequences, good or bad, and nothing could be truer in a divorce. When people get divorced in Virginia, they may make rash or emotionally charged decisions concerning distributing assets in an effort to get through the divorce rapidly or to get revenge on their spouses. However, failure to make logical decisions with the big picture in mind can hurt a person from a financial standpoint long-term.

Dissolving a marriage can be complicated, especially if a couple has many assets and valuable marital property that must be divided. If the divorcing parties don’t have a clear understanding of what type of divorce agreement is realistic and fair, the process can be time-consuming and wearisome. In addition, one or both parties are likely to make a decision that is not in their best interests or does not take into consideration their capabilities.

What might seem like a fair divorce settlement today might not seem so positive years from today. That’s why matters such as retirement funds, employment benefits and taxes must be carefully evaluated. Addressing future needs is just as important as concentrating on the immediate ones when working negotiating a divorce settlement.

If a couple can effectively negotiate their financial settlement, they may be able to achieve an amicable outcome. This isn’t always possible, unfortunately. Court intrusion may be unavoidable if the parties are not on the same page with regard to distributing assets. In any event, it is within the rights of both parties to strive for the equitable division of their marital property in Virginia.

Source: commdiginews.com, "Five reasons you need to hire a Certified Divorce Financial Analyst", Myra Fleischer, June 12, 2014

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