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Protecting self financially critical during divorce

Money matters can easily plague a marriage, and likewise, they can plague the dissolution of a marriage in Nebraska. Unfortunately, divorcing couples may have trouble reconciling their differences in opinion regarding how to handle their money and other valuable marital assets. A couple of tips may help those going through divorce to protect themselves from a financial standpoint.

Those going through divorce who know what they will likely end up walking away with, in terms of assets, may benefit from creating budgets from their assets, expenses and income sources. Once their budgets are created, they can develop strong financial plans for covering their goals and obligations. For instance, they can calculate how much money to put aside each month to cover future retirement.

Having a financial advisor may be helpful while going through a divorce, as this advisor can help divorcing spouses to get control of their financial situations and understand them. Doing this is paramount before taking time to negotiate a settlement. Financial guidance may help to increase one's chances of success.

Having a qualified divorce attorney is also critical during a marital split-up in Nebraska. The attorney can help with negotiating a settlement that is fair while still considering one's wishes and needs. For instance, perhaps a spouse may benefit more from keeping the family home, whereas the other spouse finds it more valuable to keep the IRA or 401(k) funds. The attorney will also make sure that one's legal rights are not violated during this type of family law proceeding.

Source:, "Finance 101: Divorce?", John Kageleiry, Aug. 21, 2017

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