by davidpisarra on September 19, 2008
We all know the joke about why divorce is so expensive - because it’s worth it.
Living in Los Angeles, everything is expensive, and these days cash is getting tight for many people. As the cash crunch gets tighter more relationships are breaking up. When couples start fighting over money, usually the lack of it, the divorce is not far off.
It is at this critical time that you most need to have the advice and counsel of a good lawyer, one who is experienced and knows the courts, which means they are going to charge for their time. Time is how an attorney charges for their knowledge.
In California clients can hire family law attorneys and give them what is called the Family Law Attorneys Real Property Lien. This is a way for you to access your home’s equity, without having to put out too much of your cash today. Frequently lawyers will take a case with a smaller retainer, if they have the protection of the Family Law Attorneys Real Property Lien.
Think of it like a home equity line for your defense. It’s a way for you to get the representation you need today, to make sure you have something left tomorrow. The way it works is you and your attorney agree that they will be paid out of your half of the community property equity in the home, if you don’t pay your bill otherwise.
[click to continue...]
by davidpisarra on September 9, 2008
In these times of financial uncertainty, when a couple goes through a divorce the few assets that most people have need to be divided as fairly as possible. Most men tend to want “out” quicker than they want to protect themselves. Men tend to believe, perhaps rightly so, that they can recover financially quickly, and while that may be true, there is no reason for a man to take more of a financial hit than his soon to be Ex.
I wrote in my column for Divorce360.com, THE MEN’S ROOM:
Homes have historically always gained in value, and momentarily ignoring the temporary ups and downs of today’s market, always will. A home is generally the largest investment that two married people have, as such there is frequently a great deal of equity, and more importantly, future equity, in that asset.
A boat on the other hand, as the old joke goes, is a hole in the water, into which you throw money. Boats are without a doubt the single worst asset a man can take away from a marriage. And they do it all the time.
They are bad because they are dead weight on someone’s financial wellbeing. Boats have ongoing costs to maintain them, like slip fees, scraping and engine maintenance. They lose value each month and very quickly become of no value, and you have to pay to have them scrapped.
I believe men should not take a long term loss (Giving up the house) for a short term gain (Getting out quickly) it doesn’t make sense financially or strategically.
A home is the biggest negotiating chip you have, use it wisely, remembering that it is only going to appreciate in value over the long term.
Simple Divorces
