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Divorce can have multiple long-term effects

Getting divorced in Montana is a life-changing experience, with two spouses having to undo their ties and learn how to move on with their own individual lives. The process can understandably be overwhelming both emotionally and financially. Divorce has a few effects in particular that have to do with taxes and the family home.

One of the effects of divorce is that it forces two spouses to have to change their tax filing statuses. However, it also enables them to get remarried. Still, divorce cuts off their rights to inherit from one another, and it can also change how their marital home is owned if they owned the home together during their marriage.

When it comes to deciding how the marital home and other assets are handled in divorce, spouses may choose to settle their divorce matters through mediation instead of litigation. After all, going to trial can be financially costly as well as emotionally draining. In addition, litigation may result in an unwanted outcome.

With mediation, however, both spouses can feel more in control of their divorce proceeding and strive for a divorce settlement that is mutually beneficial. A trained mediator can help them to sort out their issues but will not make financial decisions for them as a judge would at a divorce trial. The benefit of reaching a settlement through mediation, with the help of an attorney in Montana, is that it is usually faster than going to trial, provides certainty and helps to eradicate much of the acrimony that a full trial usually evokes.

Source: journalnow.com, "Understand the basics of separation and divorce", Sept. 28, 2017

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