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Divorce does not have to ruin finances

As many Texas residents have found, one of the major conflicts that can arise in a divorce negotiation is the fight over a couple's assets. It can become so complicated that it can lead to the destruction of the financial health of both parties since it can be drawn-out and costly. However, it does not have to be this way.

For couples who are facing a high-asset divorce, for example, the conflict might stretch out as each digs in with their perception of what their share should be. What one person thinks is fair might not necessarily seem fair to the other, and the fees for lawyers to represent each person in the fight will continue to escalate. There is software available now that helps couples avoid this type of drawn out conflict by calculating the living standard each spouse would enjoy under different divorce settlement agreements. This way, the couple can run the software various times and negotiate until they reach an agreement that seems fair and right for both.

Couples can also do this manually by projecting their lifetime value, which includes an estimate of what they will earn, future Social Security benefits and alimony and child support payments along with their current wealth and subtract from that estimated expenses. Then for each spouse, this amount should be divided by the estimated number of years they will be living, which will give them a rough estimate for what they can expect to be able to spend annually.

This can help divorcing couples avoid a lengthy, expensive fight and reach a result that is not as costly. If couples choose this option, they might then have their respective attorneys help them draw up a formal settlement agreement.

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