Category: Divorce Pitfalls

Today’s Alerts: In Divorce, Nearly Missed Opportunity – The Mortgage Payment

An attorney called me concerned that her client, Jill*, would not be able to afford to keep the family home after divorce.  Jill wanted to keep that home but the attorney believed her budget couldn’t tolerate the payment.  Jill insisted that she could figure out a way to make it work on her salary as … Continue reading Today’s Alerts: In Divorce, Nearly Missed Opportunity – The Mortgage Payment

Today’s Alerts: Deferred Maintenance on the Primary Home or other Real Estate in Divorce

A post divorce prospective client, Linda*, called me last week.  She signed her divorce decree over a year earlier and is now trying to divide property and accounts. Linda was awarded the home and previously unidentified expenses have come up.  She may have to sell the home as is, at a reduced value.  Likely proceeds … Continue reading Today’s Alerts: Deferred Maintenance on the Primary Home or other Real Estate in Divorce

Today’s Alerts: Inherited IRAs in Divorce

Inherited IRAs could be mistaken for traditional IRAs in divorce.  The consequence can be dramatic and costly. An Inherited IRA could inadvertently be treated as a traditional IRA, included as a community asset and divided in the decree – mistakes that could cost the beneficiary of the Inherited IRA thousands in both the amount included … Continue reading Today’s Alerts: Inherited IRAs in Divorce

A “Kitchen Table” Divorce That Just Might Work

A “Kitchen Table” divorce congers up an image of a couple sitting down over a cup of coffee to divide what they have and what they owe in a manner that works for both parties going forward.  They competently agree to the terms, split up, shake hands and move on with their lives without ever having to … Continue reading A “Kitchen Table” Divorce That Just Might Work

Today’s alerts: How to Solve the Mortgage Problem in Divorce

The first rule of mortgages in divorce is to define and resolve each spouses financing goals before signing a final agreement. Although every situation is unique and mortgage qualification requirements change (often),  it is always true that divorcing couples must plan ahead.  Here’s what you need to know. Spouses who will depend on child and … Continue reading Today’s alerts: How to Solve the Mortgage Problem in Divorce