There is nothing easy about a relationship ending. There are lots of emotions involved, people are often hurt, and sometimes there is anger. None of these make for an easy transition, especially when dealing with joint finances. It is no surprise that people put off dealing with spousal buyouts. But there are somethings you need to know:
You Need to Ask For Help
Without the right help, spousal buyouts can be a painful part of the separation. Get people in your corner who will look out for your best interests. Make sure your legal and mortgage support have experience with these types of transactions.
You Need to Think About the Value
Sentimentality and emotions will cloud your judgment. Consider carefully the real value of things, and approach negotiations objectively. You do not want to be in a position where you pay more for something that you didn’t really want or need.
You Need to be Honest
Remember, that in most cases, you can find hidden money and assets. Be upfront and honest about your situation to avoid building bad blood and creating legal issues. It may result in less money, but it is safer in the long run.
You Need to Think of the Long-Term
A separation is about starting a new chapter in your life. Keep in mind that the actions you take now will have an impact on the future you. Being a little lean now can have a big payout down the road.
We want you to know that we are here to help through these tough times. Please contact us if you have questions or to set up a time to meet.