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Preparing for post-divorce issues

Sunday, September 24, 2017

It is important for any couple approaching divorce to remember that divorce is a continuing process that can extend well beyond the official end of a marriage. Texas residents with retirement plans, or children, or even just accrued assets may be dealing with divorce issues even past the point where the agreement has been signed. Seeking out the support of qualified professionals in preparing for and meeting these challenges can be helpful to the overall process.

Dependent children are obviously foremost in the minds of most divorcing couples. However, even once child support and custody issues are agreed upon and put down in writing, arrangements must be made in case something were to happen to both parents. While it is an unpleasant thought to consider, this is also true of wills and powers of attorney, which may require changes in the face of a divorce.

Additionally, financial issues must be taken into consideration. Divorce can influence how both individuals file their taxes, and in some cases, one member of a couple may be required to divide elements of his or her retirement plan or 401(k) portfolio as part of a divorce agreement. Coupled with the inherent complication of changing legal names, this is an issue that should be dealt with as quickly and effectively as possible.

Divorce issues are not always easy to overcome, even past the point of the marriage's end. Texas residents facing divorce may benefit from consulting with professionals during this challenging period and even into the future. This can help both individuals move forward in a positive way into their new separate lives. 

Source: nasdaq.com, "To-Dos After Your Divorce", May 8, 2015

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