Money & Divorce: Costly Mistakes You Don't Want to Make: 10 Financial Mistakes and How to Avoid Them - Paperback

by David Chwalek (Author), Renee W. Senes (Author)

It is said that you get divorced three times: legally, emotionally and financially. When the legal issues are resolved and the emotional issues are behind you, the financial settlement will still significantly impact the rest of your life. You want to keep the house that has $250,000 in equity. Your spouse takes the stock portfolio worth $250,000. Five years from now, is one of you struggling to pay bills while the other has a growing net worth?If you are contemplating divorce, starting the process, in mediation or looking at settlement options, this book could be for you. We'll look at common financial mistakes that are often made in divorce settlements and discuss how to avoid them. You'll gain an understanding of how issues around cash flow, liquidity, income taxes, capital gains, retirement account rules, insurance, debt and credit could impact your future well-being. Potential mistakes include: Underestimating the costs of keeping the house; Failing to separate joint assets; Not considering the taxes on alimony payments; and using retirement assets for current income.Money & Divorce: Costly Mistakes You Don't Want to Make can provide you with the tools and information to use in negotiating a fair settlement and to understand how to live and pay your bills after the divorce.Be knowledgeable about your finances before you sign your settlement agreement