fbpx

The Biggest Financial Mistake People Make During Divorce

Divorce can often bring about tumultuous times for a family. Sometimes they can go very smooth and others can literally be the ‘War Of The Roses’. In the midst of being between the lawyers, couples often make financial mistakes that can lead to problems down the road. The number one mistake that I have seen amongst divorcing couples is their lack of consideration around liquidity of assets. It’s pretty common after a separation that one spouse will end up with the primary residence and in turn the other spouse may wind up with a commensurate amount of assets between brokerage accounts, retirement accounts, and savings accounts. While the math may show a true 50/50 split of the overall net worth of the couple, the reality is that one of the spouses will be stuck with a paper asset that could be tough to dispose of if cash flow becomes an issue. This can also occur when one spouse is the ...

Read More →