Key Differences Between Divorce and Mediation
Divorce can be an expensive business and if you get involved in a protracted court battle with your spouse then, at the end of the day, the only real winners, from any perspective, may be the lawyers. On the other hand, if you agree to a settlement without any legal representation, or have one imposed on you by a judge, then you might find yourself wishing that you had invested some money in good legal advice. Mediation aims to square this circle. It does not replace legal advice, but it does aim to provide a secure with an impartial environment for two parties to talk, to be heard and to listen and, hopefully, to find a way forward on which they can both agree and which can then be translated into a formal legal agreement and, ultimately, signed off by a judge. Divorce mediation is a specific branch of mediation, separate from family mediation The concept of mediation is nothing new and it has long been used in both commercial and domestic environments. Divorce mediation may have started out as a sub-niche of family mediation, but is now increasingly recognized as a distinct field with its own specific approach. The main aim of divorce mediation is to allow the divorcing couple to reach an amicable agreement on their own terms without the expense of lawyers and without the confrontational atmosphere which can sometimes be generated when people enter a courtroom in a nervous state and with emotions running high. It will generally tackle the key sticking points in any divorce situation, including issues relating to children. Divorce mediation can be a fairly lengthy process Although mediation (which focuses on solutions to problems) is very different from counselling (which focuses on reasons for behaviours) and can often achieve results in a…
Your Partner Is Not A Mind Reader
These individuals said if their partner really loved them, they would know what to do. No, your partner is not a mind reader. How can a person expect another to know what is going around in their head?
Real Estate Today: It’s a Women’s Market
Home sales remain strong through much of the country, and single women are, in part, to thank for the housing boom. According to CNBC, unmatched maidens are more than twice as likely to buy a house as their brothers, uncles, and male friends. If you’re a lone lady ready to take on the responsibility of homeownership, keep reading for things you should consider, including how to evaluate your finances and ways to ease the burden of moving day. Checks and Balances Your first and most important task when entering the real estate market for the first time is to know what you can afford. There are a number of factors that determine your future home’s value, including your income, outstanding debt, credit score, and current monthly expenses. SmartAsset Smart Asset explains that a lower debt-to-income ratio may put you in a better position to qualify for a lower interest rate. Even if your credit isn’t perfect, there are still loans available if you have a FICO score of less than 600, although 620-plus will be required for a conventional loan. (Check your credit score at FreeCreditReport.com.) Regardless of your income, assets, and liabilities, the vast majority of loan products require a down payment of between 3.5 percent and 20 percent of the home’s selling price. The higher the down payment, the lower the mortgage. If you’re purchasing a home after a divorce and you owned mutual property with your former spouse, you can use your portion of the proceeds from the sale of that property as a down payment. Keep in mind, however, that your first mortgage must be satisfied and any equity lines of credit or second mortgage products paid. You may also be required to pay capital gains taxes from the sale. Once you have an idea…
Finding a Home After Your Divorce
After a divorce, it can be difficult to continue living in the house you once shared with your partner. At the same time, however, searching for new property in the aftermath of a divorce can be just as tough. Not only are you in an emotionally vulnerable state but may also be experiencing a financial hit as well. The average divorce in America costs an average of $15,000, which is more than most families can comfortably afford. Some families choose to sell their original home to help pay for a new one, but this isn’t always possible when one party keeps the property. Take Some Time to Think Things Through After a divorce, most of us are in no sound mental state to be making major life decisions. A new home is a huge investment, and you shouldn’t be too hasty when searching through the listings. If you’re feeling stressed or frazzled, you may be more inclined to accept an unfair offer, or you may accidentally overlook problems with a property. Instead of rushing into a new mortgage, take a few weeks to a few months of living in a rental property before committing to buying a home. You can use the time to find new accommodation that fits family life, or if your kids have flown the nest, then a smaller space that is comfortable without being poky. That way, you’ll be stepping into the transaction with a clear and sound mind. The emotional aftermath of your divorce is much less likely to influence your decisions, allowing you to set yourself up for success. Take Stock of Your Financial Situation Before checking your local real estate listings, you should be well aware of what finances you do (or don’t) have at your disposal. You should record your incoming and outgoing costs, slashing any unnecessary expenditures…
SIGN UP FOR OUR NEWSLETTER
© 2023 Wendi’s Tips. All Rights Reserved. Website by Noventum