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Wheaton divorce attorneysOf all the issues that one may deal with during the divorce, those related to money tend to be the most sensitive and volatile. That is because, in this arena, mistakes can be costly, and they often have a lasting, negative impact. Thankfully, by avoiding these four commonly made money mistakes, parties can decrease their risk of experiencing significant financial loss in a divorce while also increasing their chances of receiving the divorce settlement to which they are entitled. 

Oversharing Details About Your Personal Life and Finances 

While the law does require you to provide financial disclosure to your spouse during the discovery process of your divorce, there is such a thing as oversharing. Examples of information that you may want to keep private include: 

  • An inheritance received after separating from your spouse;
  • Vacations or vacation plans that take place after the separation;
  • Information regarding spending habits or recent large purchases (even when done out of necessity);
  • Raises and promotions that are given to you after the separation; and
  • Any other windfall that occurs after you and your spouse have separated. 

Note that this information should not be shared anywhere - not even on social media, as even this information can be used as evidence in a divorce. Remember to still disclose this information to your attorney, as they can help you determine which assets may be excluded from the marital estate. 

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