One of the most valuable assets that a Dayton, Ohio, couple may have between them is their respective retirement plans, such as 401(k)s, pensions and the like. Those who regularly contribute to these plans can amass tens of thousands of dollars as they get closer and closer to retirement.
One thing Dayton, Ohio, residents, as well as members of the military and their families who are staying in the area, need to be aware of is that divorce, and other forms of legal separation for that matter, can affect one's tax situation in many ways.
Divorce causes many financial worries - dividing property, determining spousal support, and legal costs among them. But it's important to remember that debts are not only included in divorce but are also divided differently, and often follow you even after the divorce is finalized.
A previous post on this blog talked about some common errors in thinking that may make a Dayton, Ohio, resident's divorce or separation take a turn for the worse.