Top Financial Mistakes in Divorce

According to a divorce financial analyst, the following are the Top Five financial mistakes people make in divorce:

  1. Not appreciating the liquidity or illiquidity of each asset

  2. Not appreciating the consequence of taxes on each asset and transfer

  3. Not appreciating the special considerations associated with retirement assets (taxes, early withdrawal penalties, etc.)

  4. Not appreciating legal obligations regarding debt, and how credit ratings work

  5. Not appreciating the unpleasant consequences of trying to hide / transfer marital assets

Read more in this [State College, PA] Centre Daily Times article: Identify all assets in divorce.