Redwood City Attorney Discusses Family Law Issues and Divorce
Linda Stern has some helpful hints when dealing with a divorce. She writes in her latest Newsweek article on how to prepare financially for a divorce. The first tip for troubled couples is to deal with the house and the division of property. The real estate market is not looking good these days and some couples are thinking about keeping the house until the market gets better. Stern says that this is not a good idea because you’re binding two people together who do not want to be bound. If one spouse stops paying the mortgage it can cause credit and housing problems for the other spouse. So Stern recommends to transfer the house to one spouse if that spouse can qualify for the mortgage on their own.
Her second tip is to “plan for disasters and windfalls.” Many couples are asking for “disaster scenarios”-automatic adjustments to their payment schedules if they lose their jobs. The last tip is to mediate for the long haul. Couples should call in a financial pro to make sure the technical details are looked after and expect to return to mediation as your separate lives continues. Even though both people have stopped living together, you may have a longer relationship with this person than you ever wanted or expected. Therefore, it is a good idea to have professional help with the finances in order to allow for the distribution of finances to go more smoothly.
If you are getting divorced in California, and have questions about these issues, or others, call our experienced team of family law attorneys. We handle all types of dissolutions and other family law cases. We have four Bay Area locations, including Redwood City, San Jose, Monterey and Fremont. We offer a free consultation, either in person or over the phone. Call today to schedule your consultation.