Ohio Divorce Law
Divorce and Dissolution: What’s the Difference?
Dealing with divorce—get to grips with the financials
With an estimated 40-50 percent of American first marriages ending, and even higher levels for subsequent unions, it would seem that dealing with divorce is a fact of modern life in the United States (American Psychological Association, Marriage & divorce, accessed 22/12/14). The end of a marital relationship brings with it many challenges from the emotional turmoil often experienced to the practical upheaval of moving home. One of the most significant and potentially complicated issues to address is money. Some couples even delay their divorce on the grounds that it is not affordable and while on paper this preserves their union it often does nothing for their happiness or their children. Like most things in life, the secrets to a successful financial divorce resolution are information, advice and preparedness (Petroff Law Offices, LLC, accessed 22/12/14). Although it doesn’t sound very romantic, having as complete a picture as possible of personal finances and the monetary implications of divorce is key to handling issues such as division of assets in a fair and realistic way. Here we look at some areas to consider for couples about to enter the divorce arena.