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Posted by / 07-Jan-2015 23:37

Liquidating assets divorce

If you have items that will be hard to sell, such as worn out equipment and office furniture, consider donating them to charity for a tax deduction.As to accounts receiveable, don't forget that they will be much less valuable after you close.Request refunds on your workers' compensation premiums and liability insurance premiums, if your policies' terms allow it.Because businesses pay workers' comp premiums in advance based on payroll estimates, workers' comp carriers are accustomed to adjusting accounts each year to return overpaid money, and you should get a refund without a problem.

(Get more information on accounts receivable factoring.) Don't cheat your creditors.

Here are some tips and considerations for those who opt to settle on their own.

Learn Local Laws This material is provided by Smart About Money.org, a site from the National Endowment for Financial Education (NEFE) that helps people make sound decisions throughout all of life's financial challenges.

Many divorcing couples will go to court to divide their assets.

Others will save time and money by settling the details themselves outside of court.

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