Divorce and Real Estate Don't Mess it Up

10-2-2012

My divorcing client was involved in a multi million dollar sale of her home and final settlement. When I asked who her financial planning professional was she shared that” her attorney’s paralegal was handling that for her”. Speechless, I just stared, Was she teasing?

When I referred another client to an attorney for divorce proceedings the attorney called a few days later, not with a thank you, but to ask me questions about using Zillow. He was counseling her on the value of her home. Then he had the audacity to bill her for his conversation with me, which consisted mainly of my reminding him that I was the Realtor, he was the attorney, and Zillow was not a reliable source for real estate information.

With the divorce rate stable at 50% and home ownership at 62%, there are a lot of families who need professional guidance as they navigate this major life transition. They need professionals who recognize what they contribute and then defer to other professionals outside their own area of expertise.

The sale of the marital home is not an isolated decision. There are short and long term financial, emotional and tax consequences. A team is needed to help the family sort through all of these issues.

Each family deserves to have a customized approach to their needs. Professionals must guide them and provide all the information needed to ensure informed decisions. Teamwork is the winning formula.

Written by Joan Rogliano, Realty Times

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