Divorce is one of the most stressful things that could happen to any couple. No one wants to get married only to divorce and hire divorce lawyers later on. You and your soon-to-be-ex-spouse also have to settle child custody, financial support, and asset and property division.
It won’t be an easy journey. There will be constant disputes and disagreements over who gets what and so on. But in many cases, a divorce could be best for everyone’s peace of mind. Divorce is something that should not be done on a rash because as mentioned, you would have to consider a lot of things before ending the marriage as smoothly as possible.
Of divorce and real estate planning
Speaking of properties, it is also important to include estate planning on your divorce process. For one thing, estate planning can be a major source of headache, especially during a divorce proceeding. The last thing you would want to happen is other people taking over your properties following a divorce.
So what happens to the estate after a divorce? It depends on your agreement (if ever made clear) upon purchase of the said property. Of course, you want to get the property instead of your soon-to-be-ex-spouse.
That is why it is important to include real estate planning in case of an inevitable divorce. Top-rated divorce lawyers can help you settle this concern so that it will be complied with according to your will.
How to deal with property distribution during a divorce
What to do with the real estate depends on the agreement between the two parties. One option is to sell the property, which is a good way to have additional cash on hand. But the question is how to divide the proceeds between you and your spouse. This concern alone can trigger further issues and further complicate the divorce process.
Normally, the percentage depends on how much both spouses had given to purchase the estate. One of the spouses gave 70 percent, while the other spouse gave the remaining 30 percent share. These figures can be the basis of the division of the proceeds unless there will be changes in the agreement later on.
Family lawyers can help you with this kind of issue. The best divorce lawyers would suggest settling division of estate sale proceeds before the actual sale to avoid headaches later on.
A mediator can also help in determining the appropriate amount of cash to be distributed between both parties. In the worst cases, the judge will make the final decision whether both parties like the outcome or not.
What if both spouses want to claim the estate?
Conflicts are normal during the divorce process. It can be stressful and can cause disagreements. Family lawyers or a skilled mediator can help you with this kind of situation. Most people who are in this situation can only hope that the other party will give in for everyone’s peace of mind.
Then again, this does not always happen. In most cases, the judge will intervene and determine which party deserves to get the property. Oftentimes, the property owner will be given to a party at the expense of other assets that that party wanted to keep. If this can be settled outside the court, then much better.
As mentioned, there are also options on how to deal with property ownership. One way is by selling it. It should be agreed upon by both parties or ordered by the judge. Another way is by buying out the estate. This means the spouse who will be buying the property should be willing to have his or her name removed from the property owner.
The deferred sale may also be considered especially if you still have minors living with you. This means the spouse who has custody over the children will still live in the property until they become of legal age. After that, they can sell the property and divide the proceeds between both parties.
Know what to do
Divorce can be tricky most of the time. That is why you will need help from legal experts. In case you are planning for a divorce soon, contact the best divorce lawyers in Fairfax VA.