Seven Financial Mistakes to Avoid in Divorce
Donna S. Cates, CDFA® CRPC®
Women's Wealth Builder ~ Financial Strategist/Investment Advisor ~ Certified Divorce Financial Analyst ~ Divorce Mediator ~ Public Speaker ~ Best Selling Author
Divorce can be a whirlwind—emotionally and financially—but avoiding these seven common mistakes can make a huge difference:
1. Overlooking Hidden Assets:
You’d be surprised how often things like retirement accounts or even real estate go unnoticed. I help you uncover all marital assets so you don’t miss out on your fair share.
2. Forgetting About Taxes:
Not all assets are created equal. Dividing things like retirement accounts or selling the family home can come with costly tax surprises. Let’s plan smart to avoid those!
3. Not Budgeting for Your New Life:
Transitioning to a single income is tough. Together, we’ll create a post-divorce budget to ensure you’re financially prepared.
4. Keeping the Family Home Without Considering Costs:
It’s sentimental, but can you afford it long-term? I’ll help you weigh the emotional vs. financial trade-offs.
5. Underestimating Child Support Costs:
Kids grow, and so do their expenses. I’ll help you plan for both today’s needs and the future.
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6. Going It Alone Without Professional Advice:
Divorce is one of the biggest financial decisions of your life. As a Certified Divorce Financial Analyst®, I’ll guide you every step of the way.
7. Thinking It’s Over Once Papers Are Signed
Nope! Updating beneficiaries, accounts, and your estate plan is critical. I’ll make sure nothing slips through the cracks.
💡 Pro Tip:
Working with someone like me ensures you avoid these pitfalls and move forward confidently. Ready to protect your financial future? Let’s chat!
Attend my virtual Second Saturday: What Women Need to Know About Divorce Workshop! Sign up here!
Disclosures:
Money Matters Wealth Solutions is a dba of The Wealth Boutique, a registered investment advisor with the Securities and Exchange Commission. The Wealth Boutique and each of the DBAs are not under common ownership but owned and operated separately. All financial planning and advisory services are provided by The Wealth Boutique. All investments involve risk and unless otherwise stated, are not guaranteed. Be sure to consult with a tax professional before implementing any investment strategy.| Full Disclosure | CRS
This content was generated with AI assistance. While we strive for accuracy, AI may not capture all current laws and market conditions. This information is for informational purposes only and should not be considered personalized financial advice. Always consult a licensed financial advisor for decisions tailored to your unique situation and goals. AI is used to enhance insights, not replace professional guidance.