Divorce and Money
By: Atorney Vilet Woodhouse, CFP
As we see it, divorce is a crash course in managing personal Finances a course you must take whether you signed up for it or not. And the first lesson in that course is to understand that there is a big difference between legal reality and financial reality. The financial truth about divorce is this: Just because you “get it in writing” doesn’t mean you will get it for real. In other words, even though your settlement may be perfectly legal and fair, it can still be costly in financial terms. For example: How will you pay for debts that mounted during the marriage if your spouse refuses to come up with his or her share even if you were not supposed to pay those bills under your settlement agreement? If you leave the division of your property up to the courts, the future tax consequences of your transactions will most likely be ignored. But the IRS will still collect those taxes. [download]
Format : Ebook.Pdf
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