When considering a divorce and the family home, take your time to evaluate your options. Don’t base your decision on emotions!
When facing a divorce, it’s common for one spouse to express a desire to stay in the family home. This can be for a number of reasons. The spouse may want to minimize disruption in the lives of the children. Or they may simply want the comfort of familiar surroundings as they face dramatic life-altering changes. Under these circumstances, many profound emotional forces can be at play.
Set emotions aside and ask yourself, does it make financial sense to retain the family home? Read More
When facing divorce, it is common for one spouse to want to stay in the family home to minimize disruption in the lives of the children, or just to hold onto something familiar in the face of major life changes. While there are many emotional components at play, there are four factors to consider when deciding whether keeping the family home makes financial sense.
1. Current value and market conditions – The first step is to find out what the home is worth and get a feel for real estate market conditions. A real estate professional can help you evaluate your home against “comps,” or other recent sales in the area, but an appraisal may be the best determiner of your specific home’s value. Read More
With our corporate headquarters conveniently located in Addison, Texas, we assist clients in Dallas, Fort Worth, Richardson, Carrollton, Farmers Branch, Plano, McKinney, Garland, Frisco, and the surrounding area.
As a Certified Divorce Financial Analyst (CDFA), Cathy DeWitt Dunn discretely provides the financial expertise you need to help you negotiate the best possible divorce settlement. Cathy works closely with your divorce attorney to build a strong financial case that supports both your immediate needs as well as your long-term financial wellbeing. Even if you do not have a divorce attorney, Cathy can provide crucial insight on how various settlement proposals will impact you financially both short-term and long-term. Read More
No one wants to believe their spouse would willfully hide assets before or during a divorce, but it happens. In a community property state such as Texas, you’ll want to get a full and clear picture of all the marital assets to ensure an equitable settlement. If your spouse was the one who handled the finances during the marriage, you may be especially in the dark about the state of your assets.
Fortunately, there are ways to find hidden assets to make sure that you’re getting everything to which you’re entitled. Read More
If you are approaching a divorce and wondering what your financial state will look like once the process is over, you are likely to be curious about the division of debts during divorce. Just like assets, debts that are incurred during the marriage are considered community property debt. Debts incurred previous to the marriage are considered separate property debt. It’s important to learn the facts about debts during divorce to make sure you and your credit rating are protected. Read More
As you go into your divorce, you’re probably curious about the process for dividing assets during divorce in Texas. Each state has its own legal standard for the division of assets. When you watch TV, people will often refer to getting “half of everything,” but the law is more nuanced than that. So what is the process for determining, valuing, and dividing assets for those obtaining a divorce in Texas? Read More