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Waukesha County Divorce Lawyer

The costs associated with divorce can all add up quickly, which is why it is important to prepare your finances and get them in order before you begin the divorce process. If you know you are definitely getting a divorce, now is the time to begin the necessary financial preparation. 

According to many law professionals, a typical divorce can cost at least $15,000. Making sure your finances are in order before you begin divorce proceedings can be crucial for your long-term prosperity. Here are four ways you can plan ahead:

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Waukesha, WI divorce lawyerIn addition to emotional challenges, divorce can lead to a great deal of financial difficulty. If you are going through a divorce, it’s important to be aware of some actions that could cause serious financial hardship down the road. Some of the most common financial divorce mistakes include: 

1. Disregarding Real Costs

Often, couples will consider the current value of their investments and completely forget about the real costs of liquidation. For instance, cashing out a retirement account could lead to financial penalties, and selling a property could result in capital gains taxes. Be sure to calculate the real cost of dividing an asset prior to making any decisions.

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