What are the most common financial mistakes in a divorce?
Answer:
The following represent the ten most common financial mistakes that people make as they proceed in a divorce action.
1. One of the most time consuming and costly aspects of divorce is the process of gathering information and documentation, commonly referred to as “discovery.” This process can be greatly reduced if a divorcing litigant would thoroughly inspect the contents of his or her home and make copies of all documents contained therein. Admittedly, this is a daunting task. Many people do not wish to engage in this task. It is time consuming and costly. However, the time and cost associated with inspecting one’s own home and copying all documents is far less than what will be spent if the same information and/or documents must be obtained through formal discovery in the course of the divorce litigation.
