Family

The five top financial mistakes people make in a divorce

By Steven Benmor

Let’s face it, there are a few events that occur in life that can cause financial devastation. The death of a spouse, personal bankruptcy, major illness and, of course, divorce. But divorce does not need to create a financial hardship. In fact, it could actually result in a healthier financial position if it is handled properly. Some spouses find that divorce creates a clean financial separation and eliminates huge cash drains, especially for the higher income earner.

Despite this, spouses who don’t get the proper legal and financial advice can make some foolish mistakes. ... Read more

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