8 tax areas to factor into divorce negotiations
Let’s face it: We marry for love, but when it comes to a divorce, the focus is solely on money. This article addresses eight “under the radar” tactics that your client’s spouse may try to use to affect their net worth, which will directly affect your client’s final financial settlement. Clients heading into a divorce need to be aware of these so that they can gain assurance that all aspects of their spouse’s financial assets are fairly and accurately valued and disclosed on their net worth statement. This will enable them and their attorney to properly and equitably split the couple’s joint assets as needed.
The eight categories below to be the least discussed items during a divorce proceeding, but they can also have the biggest impact on your client’s final settlement. When it comes to divorce, knowing all of the financial issues and how you address them will ensure that your client comes out of the marriage in strong financial condition.