Florida Divorce * Child Custody * Domestic Violence Law Lawyer | Boca Raton

WomansDivorce.com shares the expertise of financial planners and analysts in an article titled Divorce and Your Finances - The 7 Most Costly Mistakes.

The article serves as a good reminder of some of the more subtle pitfalls to watch out for in negotiating settlements, such as:

• Mistake #1: Not Knowing the Liquidity of Assets
• Mistake #2: Failure to Consider the Impact of Taxes
1. Capital gains
2. Income taxes
• Mistake #3: Not Understanding the Rules of Retirement Accounts
• Mistake #4: Overlooking Debt and Credit Rating Issues
• Mistake #5: Not Maintaining Control Over Insurance Policies
• Mistake #6: Failure to Budget
• Mistake #7: Failure to Identify Hidden Assets
1. Tax returns
2. Business owner tactics
3. Checking account statements
4. Savings accounts statements
5. Brokerage statements
6. Expense accounts
7. Children’s bank accounts