When you are experiencing the bumpy journey of divorce, there are a lot of questions and concerns, and more often than not, they are overwhelming. And there’s no right or wrong way to forge a path forward, especially regarding the financial division of assets, including the family home.

The key elements in collaborative divorce or mediation process differs from those in court-litigated divorces. This can be advantageous for progressing efficiently and cost-effectively towards a resolution. Couples are paired with a team with collaborative layers, financial and coaching mediators, and which can help create an amicable divorce agreement.

When you are working through the decision of keeping the house or dividing the marital assets, a certified financial mediator can not only evaluate your financial landscape but also offer suggestions on how to move forward financially, not only in the present but also long after your divorce agreement has been finalized.

Here are a few thoughts to help you answer the questions of asset division:

1. Can you still afford to live in the house after the divorce? Can you afford to live anywhere else?

2. Where will your kids stay if the house is sold?

3. How long will your children live with you before moving out?

4. Is it possible for you to buy out your ex-spouse’s share of the house?

5. How long do you plan to keep living in this house?

The financial mediator typically involves a licensed and certified financial practitioner, such as a Certified Financial Planner (CFP), Certified Public Accountant (CPA), or Certified Divorce Financial Analyst (CDFA), depending on the specifics of your case.

These professionals are trained to handle the distinct financial and tax complexities of divorce.

At Peace Talks, our team of experts focuses solely on mediating family law conflicts. We are a full-service mediation firm specializing in helping people in Southern California settle their divorce in a sane and sensible manner.

Contact us today to see how we can help you navigate your finances in a civil, cooperative environment!

Note: This information is general in nature and should not be construed as legal/financial/mental health advice. You should work with your attorney, financial, or tax professional to determine what will work best for your situation