It happens all the time - usually women do it with the family home, but sometimes men will do it, too. They get stuck on the idea that they should keep the family home so that their kids will be able to stay in the home they grew up in. So many women fight to keep the family home - in the end, these women suffer the emotional devastation and enormous stress of struggling against losing the family home that they fought so long and hard for in a divorce.
The reality of divorce is that it costs more for two people to live apart than together. For most divorcing couples, the money that used to support the family rather comfortably in the family home WILL NOT support two households with two sets of everything - bedrooms, telephone bills, electric bills, rent/mortgage - many people do not realistically account for every penny that they spend on their homes, or they just were not involved in the family finances - either way, you should be very sure of the true cost of running a home - including having to hire people to do things around the house your former spouse once did - before you take on the responsibility.
The bottom line is, don't fight for property you can't afford to upkeep and maintain. Houses, recreational vehicles, snowmobiles, boats, 4-wheelers, second homes/timeshares, and cars, all have recurring expenses. If your post-divorce budget is not going to allow you to keep up with those expenses, then it is usually best to sell these things and share the proceeds of the sale with your soon to be ex, or let him buy you out. Just remember, always talk to a tax advisor about the tax implications of how you propose to divide your assets, so that you can make decisions about your financial future that are best for your specific situation.
Showing posts with label spouse. Show all posts
Showing posts with label spouse. Show all posts
Sunday, March 8, 2009
Sunday, February 8, 2009
Cheap Divorces Online? strategies and resources
As I watch the news on the economy every day - job loss, unemployment, foreclosures, hard working couples under enormous financial stress - I know that these tough times will push many marriages to the breaking point
The prospect of divorce can be emotionally and financially draining - how can you possibly get divorced if you are already broke?
Most if not all states have self represented ("pro-se") divorce packets that you can fill out you and your spouse agree on all aspects of the divorce - child custody, parenting time, support, alimony, maintenance spousal support, dividing the assets and the debts, the marital home, tax exemptions, pensions, retirement accounts - all issues that go into making divorce agreement
The number one way to be successful at handling your own divorce? BOTH the parties must be open to agreement and compromise - ready, willing, and able to negotiate and amicably settle the issues between them without a long drawn out legal battle
If you have children, assets (real estate, personal property, retirement accounts, pensions, savings), and debts - a consultation with a licensed attorney who is experienced in divorce matters in your area would be a wise investment.
Most (if not all) attorneys would be willing to offer you advice on your self-help divorce, for a reasonable fee.
- Paying a lawyer to advise you on your rights under the law and their professional opinion about the settlement that you have negotiated with your partner - BEFORE finalizing the divorce - can save you money, headaches, and heartache in the future!
- An experienced divorce attorney can help you to get the appropriate documents completed and filed while offering professional divorce advice to help make this difficult time a little less stressful for all involved
If you need to find a licensed divorce lawyer in your area, these websites have lawyer referral services at no cost to you -
Unless you have a very good understanding of local divorce laws and the legal process in general, filing your own divorce papers may be difficult. I have found the following websites to contain helpful information and reasonable fees for "do it yourself" divorce forms and document preparation:
Even if you have done the research on "do it yourself" divorces, and researched all of the self help information that is available, should you ever feel overwhelmed and unable to handle your divorce on your own, you can always seek professional legal advice with a divorce attorney in your area.
The information contained in this post is designed to be used for reference purposes only. It should not be used as, in place of or in conjunction with professional legal advice regarding divorce, child custody, alimony, self help divorce and/or divorce laws. If you are in need of divorce advice or are considering a marriage separation, consult with a professional divorce lawyer in your area for further information and/or divorce advice.
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