Friday 14 March 2014

Can I keep my house?


For many couples their home may be their largest and sometimes only asset
The one reality in divorce is that a couple will need two places to live. If a couple was living paycheck to paycheck in the home together, you can imagine how difficult it could be to carry two homes without a plan. In fact, thoughtful planning is a must. Mediation or collaboration are the best tools to consider problems such as avoiding a default on a mortgage, interim payment of bills, stability of children and sharing an asset for the future.
Discussing options and considering the consequences eliminates bad surprises and anger that only fosters bigger problems.

NY Times article on saving for retirement instead of paying for college:

How should my children's college costs be handled?

Parents want to see their children succeed and in the past that almost always meant paying for their college. So much has changed in the last few years because of the economy with losses of employment, reduced values of investment and retirement accounts and even the losses of homes due to horrific weather events. Parents may have to look at what they can do in comparison to what they want to do. Here is an interesting article for consideration.

http://www.nytimes.com/2014/03/01/your-money/save-for-retirement-first-the-c
hildrens-education-second.html