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Property division and important divorce-related money issues

As Kentucky readers are well aware, divorce brings with it a myriad of financial complications that must be dealt with appropriately in order to establish a strong post-divorce future. Property division is a matter that can lead to acrimony and disputes, leading to emotionally driven decisions. A final settlement should always be based on what is best long term, not temporary feelings of anger or frustration.

Dividing marital assets is a complicated process that involves all property purchased or earned over the course of a marriage. This includes real estate, vehicles, retirement assets and much more. It is important for a person to approach this issue with a mindset of future stability, seeking an equitable share of both assets and debts in order to establish the foundation for continuity of lifestyle and retirement stability.

It is also important to consider the tax consequences of any financial decisions made during a divorce. Taxes can have a significant impact on a person's financial life after divorce, and the implications of retaining certain valuable assets or receiving spousal support should not be overlooked. By working closely with an experienced lawyer, a person can make smart decisions that allow for a sustainable post-divorce future.

Money issues and child custody are the two main reasons that couples go to court over their divorce. Kentucky readers know that while these issues are important, it is possible to avoid costly litigation and reach a settlement through negotiation. By seeking the guidance and counsel of an experienced lawyer, a person can reach sound financial footing through equitable property division.

Source: goodmenproject.com, "4 Top Money Issues In Divorce", Colin Amos, Oct. 24, 2016

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