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Mark Abzug

Not all property division will work for you after a divorce

On Behalf of | May 19, 2017 | Property Division

The property division phase of a divorce is one that can either set you up for success or for failure. It is pretty safe to say that you want to be set up for success. This means that you need to plan your moves carefully if you are going through mediation for the property division phase of your divorce. We can help you to keep the focus on this instead of on other things.

It is very tempting for many people, especially those who are going through a messy divorce, to use the property division process to “stick it to their ex.” This can be counterproductive because you are placing your focus on your ex instead of yourself. Haven’t you given your ex enough of your focus? It is time for you to think about yourself now.

One thing that you need to think about when you are working toward a divorce settlement is what each option is going to do for you in the future. For example, keeping the vacation condo might seem like a no-brainer, but this might not be the case. You have to think of the cost to hang onto the property.

Real estate holdings have a lot of continual expenses. You would be responsible for paying the mortgage, upkeep costs, utilities, insurance, taxes, and association fees on your salary alone. Think about how this might impact your standard of living.

We understand that you now have a lot more to think about. Make sure that you take the time to evaluate how each option for property division will impact you now and in 10, 20 or 30 years.