Mediation is required before you go to court during Divorce. What should you expect when you go into mediation? We cover why you need it, Temporary orders vs Final Decree. Meditation is stressful but still alike a cheaper and quicker option than going to trial.
Read more about the Cost of Divorce
Mediation is a confidential process guided by a certified and trained mediator serving as a neutral third party to assist disputing parties achieve and document specific, mutually agreed upon solutions found to be satisfactory to both parties. That is good news and what you agree upon won't be part of the public records as if you did go to trial.
Read more about Mediation for a Divorce in Texas
Quitclaims, Special Warranty, General Warranty Deeds?
The use of a Special Warranty Deed is recommended only if the parties know, such as in a divorce situation, and if a title company has conducted a title search to verify the seller owns the property.
Read more about Deeds during Divorce and stay informed
We can help, we work with divorcing couples weekly to help them make informed decisions about their home. What can you do during these tough times to help this important real estate transaction go smoothly? We offer Helpful ideas to make this easier on everyone.
Schedule a call with us today!
Divorcing later in life presents some unique challenges, particularly those related to finances and dividing marital assets.
The divorce rate among people 50 and older has nearly doubled in the past 20 years. After raising kids for most of your marriage, you've now found yourself without the kids to focus on. You are left with only your husband or wife. When their children become adults or go off to college and leave them "empty nesters", the couple decides to begin divorce proceedings.
Read more about Life after a gray Divorce
1. Not getting pre-approved to buy out your spouse. If you are wanting to keep the home
2. Keeping the house and becoming house poor
3. Waiting to sell
4. Buying another home before the divorce is Finalized
5. Leaving the home without a plan
We go over each one in detail in the video below.
Get informed and make informed decisions.
Today we talk about the best way to determine the value of your home and 3 other ways to find the value of your home.
We talk about the difference between the CMA vs appraisals.
We talk with Mary Jean McArthur, an Escrow Officer-Residential at Providence Title, about the basics of Title insurance because it is important, especially during divorce.
Mary Jean shares a Divorce story and why Title insurance is so important.
Don't do it! We cover the big reason why you should not sign the special warranty Deed unless you know your ex-spouse can buy you out and has the preapproval in hand. We go into a recent example of how signing the special warranty deed has caused issues.
Special Warranty Deed Texas
Who gets the house in a divorce in Texas? Texas is a Community Property State. Learn what that means for you? Thinking about buying out your spouse? What is the Average (Hidden) Maintenance cost of home repairs? Can you buy someone out of a house during a divorce? What happens to property owned before marriage? Learn if a refinance divorce buyout is right for you? What happens to the mortgage in a divorce? Learn your options. Do you need to sell the home? Or can you buy someone out of a house during a divorce? Learn if a buyout is right for you?
QDRO What does it mean for your Divorce? When couples divorce, assets are usually divided. However, that asset split doesn’t automatically extend to retirement plans. This is where a qualified domestic relations order (QDRO) can come into play.
A QDRO is a court order used to divide the assets that are in specific types of retirement plans, including 403(b) and qualified plans, such as 401(k)s.
Assets distributed from a qualified plan under a QDRO are exempt from the usual 10% early withdrawal penalty.
Because the qualified plan assets you receive under a QDRO are rollover-eligible, amounts that are paid directly to you instead of to an eligible retirement plan will be subject to mandatory withholding.
We cover the biggest Tax Implications when going through Divorce, Capital Gains. During a divorce, when selling the marital home you need to understand capital gains taxes.
When a sale of the marital home involves potential capital gains taxes, understanding the available exclusion tests is crucial.
The current Capital Gains Exclusion on the sale of the primary residence currently allows for a $250,000 individual exclusion. Married couples are allowed a $500,000 marital exclusion.
We cover the 8 Tax Implications when going through Divorce Thinking about Divorce or Recent Filed? Here are some answers to common Divorce tax questions Divorce and Taxes
1. Timing of the Divorce
2. Liability of Joint Returns,
3. Dependents, Claiming Children for Taxes
4. Business Assets Tranfers
5. Retirement assets, 401k, IRA, use of QDROs
6. Capital Gain Taxes, when selling a property
7. Child Support
8. Spousal Maintenance/Alimony
Thinking about Keeping the House after Divorce. Learn the 6 areas of Risk associated with your Largest asset. Learn your Risk and if you are willing to accept them. As Divorce Real estate Specialists, we can help you get connected to Lenders, CDFAs, and Divorce Attorneys
The 6 Areas of Risk in Keeping the house post Divorce
1. Is the Home Insurable?
2. Mechanic Liens - Contractors lien,
3. Home Loan - Can you Refinance? Divorce Buyout
4. Condition - Condition of the Property, Deferred Maintenance.
5. Value of Home - What is my home actually Worth?
6. Title - are you on the Deed or Mortgage?
We answer questions about Divorce and Lending!
We Talk with Cindy West of Matador Lending, about getting a loan when going through a divorce.
What does that process look like and what do you need to do?
What are the requirements to get a mortgage during a divorce?
We cover some tips and tricks that can help you get a mortgage along the way.
Thinking about Divorce or Getting Ready to File for Divorce? Want to know, how to prepare for a divorce?
We share our Divorce Preparation Checklist and important information you should know before getting a divorce. How to prepare for a divorce.
Divorce is the second most stressful life event. We have both been down this path before, and we can assist you in navigating through the unknowns. We are here to help. Amber has been through divorce 8 times seen childhood. What We Do Our passion is to help people going through Divorce. We understand you are scared and worried. We have experience and empathy as both of us have gone personally be through a divorce.
Down our Free Divorce Resource at https://www.mydivorcerealestate.com/
The Gifford Group on "The Divorce Coaching Hour" With Christy Stratton Part 1
Our discussion centered around how we can remove the FEAR our clients feel when dealing with Divorce and Real Estate matters. Remember FEAR stands for False Evidence Appearing Real. Part 1
The Gifford Group on "The Divorce Coaching Hour" With Christy Stratton Part 2
When a divorce occurs, real estate matters can become even more complicated.
When it comes to real estate, we discussed the 6 areas of risk that you need to consider. Risks are spread across six different areas: The Mortgage, The Title, The Property Value, Mechanic Liens, Insurance, and the Property Condition.
Regardless of the path you choose, we'll help you along the way. No matter if you are planning on selling or staying in your current home, our team can offer you expert advice.
It's "back to school" season and we couldn't miss the opportunity to talk about Mom's House + Dad's House during this time of year. In this special series, we will be talking to various divorce professionals about critical considerations in divorce like real estate, parenting plans and agreements, mental health, and environments - all related to your children. This is a must-not-miss series full of helpful info!
In this episode, Divorce Real Estate Specialists Amber and Scotty Gifford kick off the series. They share their real estate expertise and their personal experience about transitioning a family into two homes. You'll gain tips that will guide you about what to do and what not to do! Listen Here
Divorce real estate specialists Scotty and Amber Gifford of The Gifford Group join host Christy Stratton in this informative show about what you need to know when it comes to real estate and divorce. You'll learn the six areas that you need to focus on regarding your real estate interests, as well as the biggest mistakes people make in real estate and divorce. Make sure to add this podcast to your library, rate it, and review it. And please share this and all episodes with those who will benefit. Listen Here
What is the Value of My Home? Discover the different ways to determine the value of your home and the pros and cons of each.
Copyright © 2022 The Gifford Group llc - All Rights Reserved.
Amber Gifford, Trec Lic. #0732687
Scotty Gifford TREC Lic. #0740987
Scotty Gifford NMLS ID # 2357310
We lending id # 1457930
Broker is FYI Realty Katy. INVEST IN YOUR FUTURE
We also have a Humble office, FYI Realty Humble
Broker is FYI REALTY, Lender is WE Lending