What You Need to Know about Your Financial Settlement

During your divorce, there are numerous financial landmines that you need to avoid. To put you in the best position for success, here are some tips:

  1. Remember taxes: if you are the spouse receiving property, then don't forget to take taxes into account. These can greatly reduce the value of your settlement.
  2. Research retirement plans: retirement plans have many different versions with many different options available. Review your plan and/or your spouse's plan to make sure that you won't lose out on any benefits!
  3. Carefully organize spousal support: spousal support can easily shift one spouse into a different tax bracket. If you are on the receiving end, then you may be paying more taxes than you thought, which ultimately decreases the value of the payments.

In addition to these, there are also other issues that may come up. Be sure to talk with one of our divorce lawyers if you have questions about your financial situation. At Bowen & Associates, LLC, we offer a free case evaluation, so that you can discuss your case with us and learn your options before committing to us financially.

Our goal is to help you rebuild your life and protect your best interests. We will do everything in our power to see that you achieve your goals in your divorce. Get in touch with us today by calling our office at 317.565.2221 or submitting an online form!