Certified Divorce Financial Analysts reveals Who Gets The House In Divorce

LOS ANGELES, CA, December 05, 2010 (Press-News.org) Division of assets is often the most contentious part of a divorce. The family home is often the largest asset but it is also the asset with the most emotional value. In order to get through this particular phase of the divorce settlement process, it is important to understand both your legal rights as well as the potential financial and tax consequences.

If a divorcing couple has minor children, it is common for the custodial parent to live in the home with the children for a specified period of time after the divorce is final. However, it is important to understand that during this time decisions have to be made about who will pay the mortgage, property tax, repairs, homeowner insurance and other home related expenses. So, before making the decision about keeping the family home, it is important to understand the true cost of home ownership.

This is where a Divorce Financial Analyst can play a critical role. A divorce financial analyst can assist divorcing couples and individuals by helping them see the full picture when it comes to determining how owning the home will affect them financially today, as well as how it will impact their financial future.

"I see this a lot," says divorce financial analyst and owner of California Divorce Financial Planning, Jerry Cohen, "people tend to make decisions about whether to keep the home based on whether they can afford the mortgage today. But, it's critical to consider all the costs of staying in a home for the next 10, 20, or even 30 years."

Cohen says some of the often over-looked considerations include:

• Property Taxes
• Home Insurance
• Landscaping and Lawn Care
• Homeowner's association fees
• Replacement of major appliances
• Replace of major systems such as HVAC
• Basic maintenance and repairs
• Major repairs and improvements

Working with a divorce financial analyst can help those facing divorce make good solid financial decisions; however it is critical to do this early in the divorce process. "It is possible to avoid making costly financial mistakes during divorce," says Cohen, "but only before the divorce is final. After that, it's usually too late."

Jerry Cohen's passion is facilitating fair and equitable financial settlements for divorcing couples and individuals. His credentials include Certified Divorce Financial Analyst (CDFA), Certified Divorce Planner (CDP), and Certified Divorce Specialist (CDS) and he is certified in Financial Forensics. He has completed over 100 hours of divorce mediation and advanced Family and Divorce Conflict Resolution Training. If you would like to learn more about Jerry's mission, he can be reached at (818-324-8383) or by emailing jcohen@cdfplanning.com.