Divorce can be a very stressful time for both parties involved. But on the bright side, divorce can give them a chance to become happy again instead of staying in a relationship that strains them both greatly. Though this is a stressful time, both parties should not overlook one important thing once they decide to file for divorce – money

1. 6 Money Matters You Shouldn’t Overlook During a Divorce
Divorce can be a very stressful time for both parties involved. But on the bright side, divorce can
give them a chance to become happy again instead of staying in a relationship that strains them
both greatly.
Though this is a stressful time, both parties should not overlook one important thing once they
decide to file for divorce – money.
Both parties should understand that they still have financial problems to deal with (e.g. to
support themselves and their families). As such, money is important especially during this time.
Therefore, they should know these six things involving money that can prove to be of great use
to them especially when facing these stressful times:
1. Cash Needs
Once you agree to a divorce, you will need to have an immediate supply of money to take
care of your personal needs. For this, you will want to acquire valuable assets that can be
easily liquidated such as stocks, bonds, retirement funds, etc. Obtaining these will help
you solve whatever money problems you may have.
2. Shared Liabilities
Before you file for a divorce, it is important that you settle all your shared liabilities as
this may pose as a huge problem for you if left unchecked. Settle an appointment with
your ex-spouse and agree to settle the remaining shared liabilities. Doing this will avoid
unpleasant visits from your creditor(s) in the future.
3. Tax Returns
Another thing you should look at before filing a divorce is your previous tax returns.
Reviewing your previous tax returns when you were still a married couple can net you
many advantages, such as reduction to future taxes, retirement benefits, etc.
4. Retirement Assets
This is an essential part of baby boomer living and as such, should not be left out once
you file for divorce with your significant other. Be sure that you handle this asset
carefully and report to the IRA once you file for a divorce as this will be useful for you
due to it having various benefits such as reduced tax payments, pensions, etc.
5. Taxes on Assets
Another overlooked money matter is the taxes imposed on your personal and shared
assets. Learn what assets are taxed and what assets are not taxed so you can save yourself

2. the problem of having to deal with it later. You should also report to the IRA about this
matter as well as they can help you in dealing with this. You can also seek the help of
financial advisory firms for this one.
6. Digital Assets
Digital assets, depending on the person, can be as valuable as physical assets. Digital
assets, such as computer files (e.g. digital photos and videos), e-currencies (e.g. Bit
coins), and others should also be discussed by the two parties just like you would with
physical assets.
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