Financial planning and divorce
Newsweek has this tipsheet: How to plan financially for divorce.
A snippet:
Deal with the house. Couples can hang on to a house until the real-estate market improves, but it’s usually not a good idea, says Stacy Francis, a New York financial planner who deals with divorce issues. “You’re binding two people together financially who don’t want to be bound in any way,” and if one stops paying on the mortgage, it can cause housing and credit problems for the other. It’s better to transfer the house to one spouse, if that spouse can qualify for a mortgage on his or her own.
If you’re going through a divorce situation, another site to check out is Divorce360. There are explanations and agency links organized on a state-by-state basis (here is the Michigan page), and a lot of money tips as you “unmerge” the finances.
Posted: July 29th, 2008 under In the News, Single parenting and split families.
Comments: 1
Comments
Comment from paula
Time: July 30, 2008, 1:28 pm
just wanted to thank you for posting information about our site, http://www.divorce360.com. we appreciate it and hope that your readers will find the site helpful.
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