March 26, 2021 — Adam Citron, a matrimonial attorney and Partner in Davidoff Hutcher & Citron’s Divorce and Family Law practice shared his advice with The Penny Hoarder on how to avoid having your divorce eat up all of your retirement savings.
Citron said it is important to look at the big picture and not let emotions get in the way because arguing over assets may end up costing more than the assets themselves.
If you missed the original article, Adam advises clients to attempt to limit the length of their divorce.
He shared that “arguing over assets may end up costing more than the assets themselves. Many times, parties will ultimately withdraw from and deplete savings and specifically, retirement savings, in order to continue to fund the litigation and pay the attorneys’ costs. But it’s important for both parties to keep their sights on the big picture, and evaluate decisions from a business perspective, rather than an emotional one.”
Good advice indeed!