Posted by Brendan Boesch
Each year there are nearly 1 million divorces in the United States, or about 50% of all marriages1. The real tragedy, however, is the financial devastation that occurs to many individuals after their divorce.
Too often, a divorcing individual accepts an unfair settlement and finds that a few years later he or she is experiencing serious financial challenges. Was he or she intimidated or pressured to settle? Did the offer appear to be equitable? What ever the reason, this outcome can be significantly improved upon, if not altogether avoided, if you first understand the seven most costly financial mistakes commonly made in divorce settlements.
Following are brief summaries of these seven mistakes. Each of these areas can be quite complex, so we strongly recommend that you consult a professional prior to making a financial decision that may affect the rest of your life.
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