Divorce and Money: Everything You Need to Know
Smith (What Every Woman Should Know About Divorce and Custody), a Philadelphia attorney specializing in family law, believes that divorce often causes people to make emotional decisions that can lead to dire financial consequences. They end up selling homes, losing businesses or paying off spousal debt without considering the move's long-term impact. "It is essential to look at the big picture. If you can't logically and rationally identify all the `things' you own, you will lose the opportunity to fight for them," says Smith in the book's introduction. She begins by identifying what's included in marital assets and how to conduct an inventory of this property. She discusses homes at length since the decision whether to move out or sell a house is one of the most significant decisions in divorce proceedings. This one issue touches on the impact divorce has on children, the ability of a spouse to buy-out the other spouse's share and whether the spouse keeping the house can continue to pay the mortgage. There's also advice on finding attorneys, valuing businesses, retirement plans, alimony and more. While the book covers a wide range of issues, it is quite accessible. Smith's friendly and reassuring style will appeal to readers frustrated and uneasy about the divorce process.Copyright © Reed Business Information, a division of Reed Elsevier Inc. All rights reserved.