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Going through a divorce? Don't forget the calculator

Florida couples going through a divorce know that the process can be expensive, and each spouse's lives can significantly change after the assets have been divided. How does a person make sure the assets are divided fairly? One divorce attorney recommends using a calculator.

For one couple going through divorce, the wife wanted to keep the apartment in a "deal" where the husband would not have to pay her alimony. The husband was confused by this, but after talking to his attorney and crunching the numbers, he learned that he would be giving up $175,000 if he went along with his wife's proposal. After taking a closer look at the tax benefits that go hand-in-hand with paying alimony, retirement account investments, capital gains of selling the home, among other factors, the calculator helped the man see the true value of the deal his wife presented to him.

In another case, a woman felt very strongly about keeping the home, and was willing to give up accepting alimony payments from her ex-husband, in hopes of buying the house from her ex-husband a few years down the road. The woman had been a stay-at-home-mom for more than 10 years, and questions surfaced about whether or not she could pay the mortgage after waiving her right to alimony payments. The calculator revealed that the best deal would be to accept the alimony payments from her husband along with half the house, instead of fighting to keep the whole house.

Going through a divorce is an emotional process, and sometimes those emotions or a desire for a quick settlement can leave one spouse in financial ruin. Whether a spouse is paying or receiving alimony payments, it can be helpful to speak with a divorce attorney, in addition to doing the math and figuring the best settlement for all parties involved.

Source: The Huffington Post, "The #1 Secret Weapon and Surprising Best Friend In Your Divorce," Morghan Leia Richardson, June 27, 2914

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