According to a divorce financial analyst, the following are the Top Five financial mistakes people make in divorce:
- Not appreciating the liquidity or illiquidity of each asset
- Not appreciating the consequence of taxes on each asset and transfer
- Not appreciating the special considerations associated with retirement assets (taxes, early withdrawal penalties, etc.)
- Not appreciating legal obligations regarding debt, and how credit ratings work
- 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.
