If you or a loved one find yourself facing divorce, look to a divorce attorney Oshkosh WI trusts. At Derr & Villarreal, we have spent decades representing people in the most difficult divorce situations. We’ve made it our life’s work to support you through the most trying period in your life. We understand not only the emotional pain involved but also the intricate legal path that provides the best possible outcome for you and your family. Not only do we protect you from being taken advantage of, we also ensure that you receive a settlement which allows everyone in your family to recover and even thrive after divorce. Because of our significant knowledge and expertise, it would be tempting to make decisions for you.  But we do not. Instead, we support and encourage you to make the final decisions of property division, child support and custody. We remain a divorce attorney Oshkosh WI is proud to have because we empower the people in our community to take control of their future after divorce. Still, the best decisions can only be made after acquiring sufficient information and following a thorough process. In most states property division is final. So it is important to be thorough and avoid mistakes.

What Are the Three Most Frequent Financial Divorce Mistakes?

The first significant mistake is the failure to gather all the necessary information. Most people come to the divorce process thinking of assets that are visible. Every couple discusses who is going to buy the other out of the marital residence. But before finding an experienced divorce attorney Oshkosh WI some spouses aren’t aware of other marital assets such as stocks, bonds, investments, pensions and trusts. At Derr & Villarreal, our divorce attorneys will take you through every step to explain the process, thoroughly examine the issues and uncover all the financial facts.

The second significant mistake is the failure to correctly value all assets once they are gathered. It is critical to obtain accurate asset values to make the best possible decisions for settlement. Your future and your children’s future depend upon it. Retirement assets must be valued to determine their worth as of today or their “present value.” This is the current value of all the future payments that pension will provide starting at the earliest date of retirement. Another example is the failure to value the family business. Many spouses mistakenly refuse to value the business because although a spouse does not want to run the primary breadwinner’s business, the lower-earning spouse doesn’t appreciate that it still has value and must be included in the marital estate. As experienced divorce attorneys, we understand the complex process of valuing a business including professional valuation reports that balance asset-based, market-based and income-based approaches.

The third significant mistake people make is not understanding tax implications of any proposed divorce settlement. People often fail to realize the tax implications from the sale of the home, the payment of spousal support, the division of retirement assets, claiming children as dependents, and the payment of a property division equalizing payment.  A top divorce attorney Oshkosh WI residents should look for–like those on the Derr & Villarreal team–knows how to sort through these kinds of tax issues. Your future and your family’s future is too important to settle for any divorce attorney. Contact the attorneys at Derr & Villarreal who will always put your future first.