Big Money Blunders to Avoid: Getting Divorced

Here's a piece from the Motley Fool that lists big money blunders to avoid. Today we'll be looking at what the Fool thinks is the biggest mistake people make when getting a divorce:

Women historically have wanted to keep the house and that [often] is not the right decision. There is a lot of emotional trauma and adjustments that we have to go through. Sometimes we need to step back ... take inventory.

Burying your head in the sand will not improve things, but it is very normal to take your time [and] allow your emotions and your scars and bruises ... to heal a bit before you make any drastic decisions regarding selling or keeping the house.

Also in this article they advise seeking out a counselor or two who is not impacted by the situation and can help give financial input during this time. We've had some friends go through divorce, and the ones who have friends/relatives/advisors that they can lean on come out of the situation in a much better position financially.

Free Money Finance recommends Emigrant Direct.

Comments

[JLawson]

I took my time before getting married - didn't want it to be a mistake. And it would have been, in at least three cases. Saved myself three divorces (which is, oddly enough, the number my brother had before he gave up the chase) and then I found the right woman about 14 years ago... dang, how time flies when you're having fun!

[money]

Hello:

Your article about big money blunder hits the mark.

Money is a very mysterious commodity.

If you don't have enough of it, you feel unhappy.

But when you have too much of it, again, it can cause many problems for you.

And if you have it but don't spend it, it is usless.

And if you spend it and it is gone, again you feel unhappy.

Ikey Benney

http://maychic.com/clickbankbuddy/index.cgi

[cmerkel]

Just Post about something I'm seeing a friend go through right now.

When he got divorced, he agreed to pay his ex $N alimony every month for a year to help pay off the credit card she had dug herself into a hole with after they split up... their settlement didn't actually call it "alimony" though. He claimed it as such in his taxes... He got audited and the IRS didn't agree... since their divorce agreement didn't actually call it "alimony", it wasn't...

so, I guess the lesson is either make sure it's called alimony in the settlement or don't claim it on your taxes, even if that is what you and your ex decided it was.

[internet-income-business-opportunity.blogspot.com]

Many centuries ago, when not too many women were working, the concept of alimony made sense, as a way to help a newly divorced woman to get on with life without too much suffering. But now, most women work, so this concept should be revised.
I think the law that compels a man to leave his house to his wife when they divorce is very unfair and should be abolished.

[Diane]

From the comments by internet-income, etc., I assume the poster is unfamiliar with what is actually happening in the divorce courts (family courts) today. Don't believe everything you hear. There is no law compelling a man (or a court) to leave a house (and it is THEIR house, not his) to the woman (no longer "HIS" wife, btw). I really do assume that the writer of that piece is a man; perhaps because the writer assumed male ownership of everything (house, wife).