Definition: A settlement agreement based on objective financial realities.
For clients in the early stages of a divorce, making sound financial decisions is tough, especially if emotions are high. In the heat of conflict, business decisions can feel cold. But they are essential to building a financially stable future.
What to do with the family home is one of the most challenging business decisions that divorcing couples face. At least one spouse typically feels a deep connection to the home and wants to keep it after the divorce.
That emotional tug often results in poor business decisions. It’s common for the mortgage, utilities, real estate tax, and maintenance costs of the family home to run too steep to be supported on a client’s post-divorce income.