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How Do You Avoid Common Financial Divorce Mistakes?

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How Do You Avoid Common Financial Divorce Mistakes?

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Many times the divorce process can create problems, mentally and financially. Being aware of some common financial mistakes can help you avoid troubles in the future. The following list can help you avoid some common financial divorce mistakes. Avoid using your emotions when it comes to the question of who is going to keep the house. Decide which person will be more able to pay the extra expenses that could come with it. If you do not think that your financial health is up to maintaining the property, paying the mortgage and possible upkeep, it may be in your best interest to let the other person have it or sell it. Selling a home these days may take some time, but the profit will be split when it is sold and you will be better off. Make a clean break financially, at least. The asset and debt separation can be difficult, but extremely important for your financial well being. Split all credit cards and lines of credit to safeguard against possibly finding out a year later that your spou

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