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Joseph Hoelscher was recently asked to lend his professional opinion to a helpful article on what to know when transferring your house or property after a divorce. See his contribution below and follow the link at the end to read the full article.
Ask an expert: How can I make the process go as smoothly
- Don’t deplete the asset. We
use a standard order to prevent parties from damaging or borrowing against
community assets, but people still do these things. I had a client whose spouse
was still in the home while the divorce was happening. When we set a hearing to
remove her from the home, she trashed it while he was at work. Eventually, all
those extra costs got taxed against her by the court.
- Fight the system, not each other. The
divorce process will take a huge cut of the family’s net worth, so both parties
should fight together to preserve what they’ve got and think twice before going
to court. Every time a lawyer gets involved, your bill goes up and so does the
other team’s. That money is shrinking the pie you want to divide.
- Reassess your
finances immediately. You’re going from one household to two.
You need your own budget. Talk openly with your lawyer about what you can
reasonably expect to be left with after the divorce and figure out how to live
Managing Attorney, Hoelscher Gebbia Cepeda PLLC
Read the full article on finder.com