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Don’t make these financial mistakes during your divorce

If you decide that divorce is the best way to fix your marriage, it won’t be long before you’re reviewing your finances with the idea of putting yourself in the best position for the future.

With so much happening, it’s possible you could make a variety of financial mistakes during your divorce. Here are five that you need to avoid at all costs:

  • Neglecting to use a property division checklist: Without this, you could overlook assets that need to be divided, thus missing out on something of value.
  • Not reviewing all your financial documents: From bank statements to pay stubs to tax returns, you need to review everything during your divorce.
  • Forgetting about your debt: Most divorcing couples understand the importance of property division. While you focus on this, don’t lose sight of any joint debt, such as credit cards and personal loans.
  • Not understanding the impact on your future: For example, not all assets will have the same impact on your tax situation.
  • Neglecting to think about the future: It’s so easy to get caught up in the here and now that you never look down the road. If you do this, you may end up regretting some of the decisions you make.

It’s hard to know exactly what you should and shouldn’t be doing, as it’s not likely that you understand all the finer details of the divorce process.

It’s up to you to ensure that your finances are in order, which means avoiding mistakes at all costs. When you have a solid grasp of your situation, it’s easier to stay on track from start to finish.

Alex Hanna was named Top 100 Criminal Defense Lawyer (2016) by The National Trial Lawyers.

Alex Hanna is rated a Premier DUI Attorney by the American Association of Premier DUI (2016).

Alex Hanna was named Traffic Lawyer of the Decade (2010) by the Minority Chamber of Commerce.

Alex Hanna was given the 2016 Client’s Choice Award from Avvo.

Alex Hanna is a member of The Florida Bar and Practices in the areas of Criminal, Traffic and Personal Injury Law since 2001.

Alex Hanna is a member of the National Association of Criminal Defense Lawyers (2016).

Alex Hanna is a member of the Esteemed Lawyers of America association (2017).

Alex Hanna is a member of the American Immigration Lawyers Association (2017).

Alex Hanna was bestowed the 10 best law firm award by the American Institute of Criminal Law Attorneys in 2016 and 2017.