A couple may reach the point where they simply cannot stay married to one another. While the reasons can differ from couple to couple, ultimately most end up in the same position: filing for divorce. For Ohio couples, the other option is dissolution of marriage.

For some, opting for dissolution can be the better decision because it is effective yet affordable. Couples often do not realize that planning to separate involves a lot of factors that can impact them financially for years after the separation.

Dividing the property

After a marriage, there are a number of assets that the couple amassed while together. Some of these include a house, cars, and investments. When reaching an agreement on how to divide property, couples should understand the implications for each property.

For example, selling the house and evenly dividing the proceeds may cost the couple more money than if one keeps it and the other is compensated. With the housing market on the decline, many couples may find that people are unwilling to pay what the house is actually worse.

Maintaining relationships with the kids

While most parents understand that dissolving a marriage means one parent will likely pay child support, they may not see some of the other costs of splitting custody. One father shared that he realized the act of simply dropping off and picking up a child could impact him financially.

Parents also have to consider the cost of higher education. With the other financial considerations to make after separating, there is the cost of college. Should the parents be saving together? How much should each save a month? These are just a few of the questions that may arise.

Ultimately, a couple who decides to dissolve a marriage simply needs to plan ahead for the future. Spousal support and child support payments can change over time; being smart about those sources of income now can help alleviate issues down the road.

Source: CNBC online, "Divorce Can Cost You Over And Over," Elizabeth Alterman, 04 May 2011