February 1, 2020

15 Divorce Financial Mistakes

For years I’ve educated clients about the benefits of working with a financial professional who has specific divorce expertise and experience.  My colleague Lisa Gresham, CDFA, of Equitable Divorce Solutions, LLC is one of the best.  My thanks to Lisa for allowing me to share her article “The 15 Most Costly Financial Mistakes Made During Divorce” with my readers. 

1. Not knowing/understanding your financial picture

2. Having unrealistic expectations

3. Making financial decisions based on emotion

4. Overlooking important information & hidden assets

5. Failing to establish a budget

6. Failing to consider the impact of taxes

7. Not understanding the rules of retirement accounts

8. Not knowing the liquidity of assets

9. Focusing on the present and not on the future

10. Assuming a 50/50 split of the assets is a fair distribution

11. Using your attorney to punish your spouse

12. Not updating financial, estate and insurance documents

13. Failing to insure payments from the divorce settlement

14. Failing to establish a post-divorce financial plan

15. Accepting a settlement to simply end the process Madison:  203-245-1225

You can reach Lisa by telephone at 203-245-1225, email at lisa.gresham@equitabledivorce.net or her web site at www.equitabledivorce.net.

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