Options for Disbursement of Real Estate Assets during a Divorce
Although it is a topic that most people don’t want to contemplate or even consider, divorce has a tremendous impact on real estate and financial holdings. Real Estate may represent the largest asset that is being considered within the divorce proceeding, therefore it is something that should be considered when a separation or divorce are on the horizon. There are over 1.4 million divorces in the US every year. Here are some tips and strategies on how to maintain your lifestyle after a divorce and how to evaluate various real estate and financial settlement options prior to a divorce:
You should consider and evaluate the options related to disbursement of your real estate properties, including homes, condos, vacation properties, investment properties, timeshares, etc. prior to the divorce settlement. This could include an evaluation of whether you consider:
o Sell your property or refinance your your primary house or other real estate assets in order to cash out an ex-wife or ex-husband
o Accept or pay spousal support, child support or a higher cash flow payment versus a lump sum distribution involving the real estate holdings. You should evaluate the cash flow and home equity protection implications of various financial decisions that may arise as a result of the divorce. This enables you to:
o Maintain your lifestyle
o Keep your little ones in the same school system as a single parent
o Live in the home that meets your needs without breaking your budget
o Stay on track to achieve financial freedom and become debt-free
You should look to correct your real estate liquidity and protect your the real estate holdings from legal obligations or liabilities prior to going through a divorce by working together with your CPA, CFP, attorney, Real Estate Team and other advisors.
Don’t settle for an less than desirable financial short-term fix or strategy if you failed to plan properly during a divorce situation. You can recover by implementing a step-by-step plan for how to re-establish your financial footing after going through a divorce. This may involve:
o Financing in stages – a refinancing or debt restructuring plan that takes place over time
o Sale/Leaseback or Rent-to-Own strategy – a way to keep or purchase a home for sale or when you can’t qualify for traditional financing options.
o Seek out Affordable Single Family Homes for Sale
You worked hard to develop the assets and real estate holdings involved. You should consider all of your options to create an environment that works to protect those assets.
Robert Earl – The Earl of Real Estate is a Real Estate Entrepreneur & Real Estate Coach based in the Northern Virginia Real Estate Market.
- Robert Earl The Earl of Real Estate
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Yes, you do unless you have the judge vacate the judgment for back child support. I'd insist on that before agreeing to the adoption and to make sure that it is vacated before the adoption finalized.
Considering they have her call him Daddy, when in fact, she has a father who is active in her life, your ex should eat the arrears.
Yes, I couldn’t agree more with the comment made by Jilly. Sure, these are essentially personal matters and do not fall in within the domain of public scrutiny. However, it sure raises serious concerns about the ethical moorings of a person who would choose to marry another and spend his time in happy consortium while (un)happily haggling over the divorce settlement, with hazardous potency to affect the future of the IPO itself! Are these warning signals to the investors about the level of trust and confidence that they can choose to place in such a person as Mr. Muskdid!
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Because you take the time to look through every page related to divorce settlements.
I have to pay my ex 3 times as much as anyone else in my unit pays their ex for child I pay for the kids, and I pay for him to own a nice car. fabulous. Woohoo.