Getting beyond emotions in property division

Getting beyond emotions in property division

It might be difficult to find anyone in North Carolina who would not agree that ending a marriage is fraught with emotion. Many people become so caught up in the emotional roller coaster that can accompany a divorce that it clouds every decision they make. This can lead to one or both parties making rash decisions when it comes to property division, which could jeopardize the parties’ futures.

It is not always easy to get past the hurt, anger and resentment that North Carolina couples feel. In order to combat this, some couples decide to hire a financial adviser to help them through the process. This person often provides the voice of reason when needed, but can also help the parties understand the true value of the assets they are dividing.

In the end, both parties typically want to be able to walk away feeling as though they were treated fairly and received an equitable portion of the parties’ assets. Without an understanding of how thing such as taxes can affect the value of an asset, the true reality of what receiving an asset such as the marital home or a retirement account entails could be discovered too late. A clear picture of the couple’s financial situation from the beginning can help both parties avoid being blindsided in the future.

As the parties attempt to carve out their individual futures, objectivity is essential. Sometimes, it is necessary to bring in another party to guide the parties through property division negotiations in order to achieve that goal. Once the financial issues have been worked through and the agreements have been made, it may be possible to execute a divorce settlement with which both parties can live.

Source: commdiginews.com, “Five reasons you need to hire a Certified Divorce Financial Analyst“, Myra Fleischer, June 11, 2014

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