When going through a divorce, acknowledging and addressing the various tax implications involved in the process can result in significant savings for both spouses while also opening up more opportunities for compromise during settlement negotiations. Although often overlooked, there are numerous ways in which a divorce can trigger tax liability or tax-savings opportunities, and understanding all of the various tax implications of your divorce is critical to avoiding unnecessary tax liability.

The generation-skipping transfer (GST) is among the least-understood and most underutilized tools available for estate planning. When used properly, a GST not only provides a safe way to bequeath assets to future generations, but can also provide tax benefits that can save substantial sums – particularly for large estates.

If you are over the age of 65 and you have decided to bring your marriage to an end, it will be important to carefully assess the unique factors involved in getting divorced as a senior citizen. While many aspects of the divorce process are the same regardless of your age, wealth and retirement status, there are some unique considerations involved in getting a divorce in your later years.

If you have decided to for divorce in 2018, there is a lot you need to know. Here are 10 key considerations to help you begin your preparations.

According to data CNBC published last year, the average millennial between the ages of 25 and 34 has less than $1,000 in savings. Just 20 percent of these “older millennials” have saved $10,000 or more. But, whether you are just starting to save or you have already purchased a home and have a healthy sum in your retirement account, it is important to protect what you have earned in case something goes wrong.

As a parent, ensuring that you will be able to spend time with your children is one of the most important aspects of the divorce process. But, as a father, it can seem like the odds are stacked against you. Custody laws have traditionally favored granting primary custody to a child’s mother; and, from child support to spousal maintenance, you may be wondering how you will be able to afford to make lasting memories during the little visitation time you have.

Even at the earliest stages of preparing for a divorce, it is important to think about what the future has in store. Once you have decided to end your marriage, getting divorced is simply a means to an end, and you need to approach your divorce as your one chance to preserve your current lifestyle to the greatest extent possible.

Under the right circumstances, life insurance can be a valuable – and even cost-saving – addition to a comprehensive estate plan. But, like all estate planning tools, life insurance is not the best option for everyone. If you are thinking about buying life insurance, or wondering if you should, here are three important considerations to keep in mind.

When going through a divorce with children, answering your children’s questions can be one of the most difficult parts of the process. You want to provide them with truthful answers and help them establish reasonable expectations, but you also want to make sure they are not involved in the process any more than is absolutely necessary. Your children will be directly affected by the outcome of your divorce, so they deserve answers. But, they also deserve to be protected from the emotional toll of your divorce to the greatest extent possible.