Sometimes people have certain instincts and think they have to take care of things a certain way without thinking it through. One of the financial mistakes that individuals make is paying off debt before the divorce hoping the court will look at them differently. A marital debt is going to have to be divided in the divorce balance sheet just like a marital asset. This means when you run to pay off the debt, it will not come back into the equation as a shared debt.
The debt may be something that your soon to be ex has to pay half of also. Another mistake from a financial standpoint is attempting to hide assets. Most assets can be traceable to some degree and if one person is caught trying to deceive the court, there are very serious consequences of doing so.
This is a must watch video for anyone who wants to know the financial mistakes to avoid during the divorce process in Michigan. There are so many moving parts during a divorce that it can be overwhelming sometimes. Goldman and Associates can help you TODAY here are some tips that most divorce attorneys will never tell you about.