Questions Divorcing Couples Must Ask

You’ve gone from “I do” to “I don’t”. Divorce, especially in this economy, is a life hurdle that can be jumped if the tough questions are asked and answered early in the process.

According to AOL real estate, “couples who are moving forward with a divorce this year in spite of market obstacles face tough choices: Keep the house and wait to sell until the market is better? Live together in the meantime? Sell now no matter what? When it comes to the house, arriving at a fair solution requires balancing financial decisions and weighing emotional pros and cons.”

With a down economy and lost home values 40% of couples have postponed plans to split. If you’re one of them, be sure to address the following questions.

• Does it really make economic sense to keep the house? Sometimes it’s better to cut your loses and get out. It’s a matter of finances, and possible foreclosure/short sale, not fondness of the home.

• Can you live with your soon-to-be ex as a business partner? Check your emotions at the door and make business decisions. Discuss childcare, agreements around dating and how you will continue with bank accounts and home maintenance.

• If you sell, how will you split the proceeds? You are entitled reimbursements for home improvements/investments made during the marriage. Even if you don’t hold the title to a property, your sweat equity is worth something if you are compensated in a divorce proceeding.

There are no easy answers during such a difficult time, but your accountant and divorce attorney can guide you best.

ABOUT ME:

I live, work and play in Conejo Valley and specialize in Agoura Hills and Westlake Village real estate.

Where you live is more than a roof over your head. It should improve your quality of life – spiritually, emotionally and psychologically.

In my home and garden articles, you’ll find some great tips on how to make your house, not just a home, but a sanctuary.

Through my blog, I hope you’ll also gain some insight and find tips and resources that will help you navigate through the current market, whether you're buying or selling.

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