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When divorcing, focus on the future in terms of your assets

For people in Clarksville who go through a divorce, there will be many issues that need to be sorted out -- not the least of which is finances. Many people might focus on wanting to keep the house in a divorce because that would seem like the biggest asset to come away with. However, some experts say this is not necessarily the best choice.

While it is true that a house might have the greatest value, its actual worth can be deceiving. Houses require upkeep and improvements; this might become more burdensome for a divorced person instead of a married couple. Also, what might have been a reasonable mortgage payment divided between two people might suddenly be uncomfortably large for just one person after a divorce.

Additionally, houses are notoriously illiquid when it comes to an investment vehicle. While stocks or retirement accounts might be converted to cash in the event of an emergency, real estate takes a considerable amount of time to put on the market, sell and reap the proceeds. Also, if there is still a mortgage on the property, the profits in what continues to be an unpredictable housing market could be much less than a person might expect.

These are just some of what can be a lot if variables that need to be addressed during a divorce. While many people might be tempted to go it alone, the complicated nature of the proceedings might mean that working with an experienced divorce attorney could be of great benefit.

Source: CNN Money, "Rebuild your nest egg after a divorce," Beth Braverman, Donna Rosato and Penelope Wang, Feb. 21, 2013

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