Tuesday, August 28, 2007
Divorce and Real Estate
There are many "life events" that affect how we manage our real estate assets. One event, that I have been personally educated in, is going through a divorce. Whether you own one family home which you may want to sell to go your separate ways or you have a portfolio of properties that must be divided - divorce requires planning for best results. Capital gains issues are very important. 1031 issues too play a big role if you have investment property. I humbly say that my ex and I did mediocre at best planning. This was due to antagonistic communication and general distrust. There is never win-lose - that really is lose-lose. Play the win-win game - no matter how tempting is revenge. Both parties can walk away happier and have more assets to start their "phase two". I plan to write more specifics about divorce and real estate issues in further blog entries.