Buying a New Home During Separation: Avoid Hidden Legal Fees and Protect Your Matrimonial HomeNavigating the urge to buy a new home during separation can feel like a fresh start, but rushing in without a solid separation agreement and full financial disclosure might turn your dream oasis into marital property subject to division. In this episode, experts dive into the biggest misconceptions about purchasing property amid divorce, including tax implications, lender requirements, and the risks of emotional decisions that could lead to additional legal...
Buying a New Home During Separation: Avoid Hidden Legal Fees and Protect Your Matrimonial Home
Navigating the urge to buy a new home during separation can feel like a fresh start, but rushing in without a solid separation agreement and full financial disclosure might turn your dream oasis into marital property subject to division. In this episode, experts dive into the biggest misconceptions about purchasing property amid divorce, including tax implications, lender requirements, and the risks of emotional decisions that could lead to additional legal costs and a rushed divorce timeline. Discover how to safeguard your financial situation post-separation with tips on timing for buying home, realtor during divorce, and creating a post-divorce financial plan for long-term security.
Key Takeaways
- Always secure a legally binding agreement with full financial disclosure before buying a new home during separation to prevent it from becoming marital property and facing property settlement agreement disputes.
- Consider the matrimonial home's emotional and financial valueāask about post-divorce budget, maintenance costs, home insurance, and tax implications to decide whether to keep or sell.
- Beware of family gifts for home purchase; without proper documentation, they could be deemed marital property, leading to court-ordered sales and shared proceeds.
- Consult a family lawyer or mediator to avoid hidden legal fees, rushed divorce timelines, and emotional decisions that jeopardize your financial future post-separation.
Featuring
Sarah Bates, Certified Divorce Specialist and founder of Naked Divorce Filer by DTSW, shares her expertise in simplifying uncontested divorces with clarity and compassion.
Ken Maynard, Certified Divorce Financial Analyst and Accredited Family Mediator, discusses his Soft Landing Divorce Settlement Method for amicable, cost-effective resolutions.
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Contact US: https://to.softlandingpodcast.ca
Show Notes and Downloads https://to.softlandingpodcast.ca/S2E7ShowNotes
š¬ Thanks for Listening
Ken Maynard Thank you for joining us on the
Soft Landing Divorce Podcast, where we believe that separation can be a starting pointānot just an end. With the right support, you can navigate this transition with dignity, clarity, and a vision for your future. Iām
Ken Maynard, Accredited Family Mediator and
Certified Divorce Financial Analyst (CDFA), and founder of
Divorce the Smartway. I help separating couples find resolution through constructive dialogue, practical financial planning, and family-first solutions.
- š Phone: (647) 360-3200
- š Website: divorcethesmartway.ca
- š§ Email: kmaynard@dtsw.ca
Sarah Bates I believe every ending can be the beginning of a healthier, more empowered life. Iām
Sarah Batesādivorce consultant, educator, and advocate for compassionate separation. If you're navigating separation, co-parenting, or just need guidance on building the right team, Iām here to help.
- š Phone: (647) 493-1800
- š Website: www.thesmartdivorce.com
- š§ Email: sarah@thesmartdivorce.com
Letās build your soft landingātogether.
Connect with US: to.softlandingpodcast.ca