Category: Divorce and Real Estate
Co-owning the Home After Divorce
Click the link below to see the infographic: Co-owning the Home After Divorce
The Cost of Proving Separate Property in Divorce
The spouse claiming property is separate in divorce has the burden to prove it. In a long term marriage the proof can be hard to find, and expensive to provide. It requires that the source of the funds used to create and maintain separate property be “traced” by a forensic accountant or CPA and requires, … Continue reading The Cost of Proving Separate Property in Divorce
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 In Divorce, Nearly Missed Opportunity – The Mortgage Payment
Converting Rental to Primary Property in Divorce
When couples own a primary residence and rental properties one idea for asset division is for one spouse to stay in the primary residence and for the other to move to one of the couples’ rental homes. While this is convenient, the tax costs should be considered when valuing the properties. Section 121 IRS rules … Continue reading Converting Rental to Primary Property in Divorce
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 Deferred Maintenance on the Primary Home or other Real Estate in Divorce