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Weighing the options before filing for divorce

On Behalf of | Apr 29, 2016 | Divorce

There can be many reasons why a married couple might decide to end their relationship. Domestic violence, infidelity and other issues can strain a relationship and lead to the decision to terminate the marriage through a divorce. For Ohio couples, ending the marital relationship might be opening the door to an array of issues over children and property interests that can lead to a heated dispute.

Individuals contemplating a divorce might not initially take into consideration the drastic effect it could have on their finances. Instead of supporting a household on their combined incomes, married couples must face the reality of each person having to take care of his or her own living expenses. Long-term plans might also change as retirement plans may be subject to division.

The asset division that is part of a divorce is another factor that couples must take into consideration when making the decision to end a marriage. The division of business assets and real estate holdings, including the marital home, might be create situations in which property interests might have to be sold without regard to whether the market conditions favor a sale. For instance, selling real estate when market values are low could cause a couple to lose money, and disposing of business interests could be devastating to a venture.

The question of whether or not to file for divorce divorce is not a decision to take lightly. Once it is determined to move forward, the filer might want to have the assistance of counsel in negotiating a comprehensive settlement agreement with the other party.