Common Asset-Related Mistakes Made During Divorce

Common Asset-Related Mistakes Made During Divorce

Divorce isn’t easy, and often, serious financial issues arise from one or both spouses making certain critical mistakes. Please continue reading and speak with a Los Angeles division of assets attorney here at our firm to learn more about some of the most common asset-related mistakes during divorce and how we can help you.

Common Asset-Related Mistakes Made During Divorce in California

Just some of the most common asset-related mistakes made during divorce in California, particularly those pertaining to real estate, are as follows:

  • Refusing to let the other spouse keep the house, even when this is the most prudent option. Of course, to any home owner, their house is most likely their most sentimental asset; it is far more than a place where you rest your head at night. However, in some cases, trying to keep a house when you simply can’t afford to keep up payments is simply not a good idea. The moral of the story? Don’t fight for a home that you can’t afford.
  • Not considering selling the house. For many spouses, after they get divorced, the smartest and often most common-sense approach can be simply selling the marital home and splitting the profits. If you both are not opposed to selling your home, this may be a solid option.
  • Failing to make all mortgage payments on time. If you are a homeowner, you most likely know that the most important thing is for you to make each mortgage payment on time. Failing to make mortgage payments will destroy your credit and limit your home’s value in the long run. Don’t make the mistake of missing mortgage payments.
  • Failing to remove the spouse who is moving out from the deed. This is a very common mistake. If you’re getting divorced, it isn’t always best to remain a co-owner of a home. In some cases, this can actually lead to some significant issues in the future. For example, if you co-own a home but no longer live there and your spouse does something to harm the property, you may be liable to fix it. This is why it is typically best to remove the spouse who doesn’t live in the home from the deed.

If you have any other questions or you need a Los Angeles divorce attorney to fight for you, give us a call today.

Contact our experienced Los Angeles firm

Divorce and family law issues are notoriously complicated and personal, which is why you must hire an attorney with years of experience, as well as the compassion and skill needed to handle these sensitive matters. For the qualified, dedicated legal representation you and your family deserve and need, contact Zitser Family Law Group, APC today.

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