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9 mistakes people make when getting a divorce

This article is written by Melanie Simons.

Who gets the house? Is a divorced spouse entitled to pension benefits? Do I really need an attorney?

Whenever one of my clients has made the tough decision to end her marriage, she usually has a ton of questions for me. It can be a confusing and stressful time—it’s easy to make mistakes along the way. Unfortunately, the consequences can be long lasting.

Here are 9 of the most common errors I see people make when getting a divorce.

1 “How Much Will My Divorce Cost and How Long Will it Take?” Nolo, 2014
2 “Survey Results: When Divorce Does Damage to Your Credit,” Experian, 2017
3 “Divorcees Floundering on Retirement Finances: Survey,” ThinkAdvisor, February 2017
4 “Real Estate Vs. Stocks: Which One’s Right For You?” Investopedia, March 2017
5 Bureau of Labor Statistics (cited in “Why women should rethink their finances after divorce,” US News, August 2017)
6 “Help Your Child Through a Divorce,” Kidshealth.org, January 2015
7 U.S Government Accountability Office (cited in “Why women should rethink their finances after divorce,” US News, August 2017)

This article provides general information, including examples, that may be helpful in understanding financial and other issues relating to divorce.  The TIAA group of companies does not provide tax or legal advice. We urge you to seek such advice based on your own particular circumstances from a legal or tax advisor to determine if the information in this article is appropriate for you. Please note laws vary by state.

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