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The expenses of a divorce are unlikely to deter a couple that truly needs to split, but experts say you should still be aware of just how high the bill can get. It some cases, the financial consequences can set you back decades.
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Presented ByLee Ray
Divorce Law Expert
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The Financial Impact of Divorce
The expenses of a divorce are unlikely to deter a couple that truly needs to split, but experts say you should still be aware of just how high the bill can get. It some cases, the financial consequences can set you back decades.
“The Financial Impact of Divorce” Financial consequences for everyone
Spousal support quickly adds up Capital gains can be a killer Don’t forget the legal fees
The Financial Impact of Divorce
Divorce requires you to make financial decisions at every turn. Avoid some of the most common mistakes.
There are many financial decisions to be made during a divorce, many of which can affect your financial security well into the future. It’s crucial that you get good financial advice, and avoid making some of the mistakes that financial professionals identify as the most common.
The Financial Impact of Divorce
Avoid some of the most common mistakes.
1)Not knowing how much it costs you to live
2)Assuming that the custodial parent should keep the house.
3)Believing that an equal division of property is the same as a fair division of property.
4)Deciding financial issues one at a time instead of understanding how they affect each other.
The Financial Impact of Divorce
1)Not insuring alimony and child support.
2)Not understanding unsecured debt
3)Not evaluating the defined benefit pension plan correctly.
4)Not following through with a Qualified Domestic Relations Order (QDRO)
5)Using unrealistic assumptions about inflation and investment returns
6)Failing to ask, “How do I know that I will be financially secure after my divorce?” before signing the divorce papers.
The Financial Impact of Divorce
The Financial Impact of Divorce
Reference Links
Alimony in Divorcehttp://www.edivorcepapers.com/divorce-alimony/
Legal Advice for Divorcehttp://www.edivorcepapers.com/divorce-legal-advice/
Procedure for Filing Divorcehttp://www.edivorcepapers.com/how-to-file-for-divorce.html
Mediation Process for Divorcehttp://www.edivorcepapers.com/divorce-mediation/
