Jeff Abadie, Senior Wealth Manager and Shareholder of Sand Hill Global Advisors, joins Robyn Ginney, family law attorney and Partner at the law firm of HartGinney LLP, to discuss a common question that intersects both family law and financial planning: can I keep the primary home after divorce? They discuss the financial ramifications for keeping the family home, including taxes, property upkeep expenses, the needed liquidity to buy out your spouse and the potential resale value of the home. They discuss the pros and cons for various financial situations to help you better understand if keeping the family home post-divorce would be right for you.

In a divorce, what will I be responsible for when it comes to the price of the home? And when should I involve a wealth manager during a divorce process?

When contemplating divorce, there are understandably a significant amount of personal and practical considerations to examine. A good place to begin is to familiarize yourself with the process you may soon navigate and build a thorough understanding of the legal options available to you.

Understanding Social Security retirement benefits can be a daunting task for many, but even more so for divorcees. The eligibility rules are different when collecting a benefit on a former spouse’s employment record.

Future alimony negotiations become more challenging. Beginning in 2019 under the new Act, alimony is no longer a tax-deductible item on the federal tax return.

A major dilemma with navigating the divorce process is that it forces a person into an extremely emotional and gut-wrenching situation, and yet also requires extremely logical decision making to avoid major financial and legal mistakes.

It is also important to make sure new brokerage and bank accounts, investment plans and property titles are in place and ready to receive your assets.

Mediation can reduce the overall cost and the emotional trauma experienced in a more traditional dissolution process in which spouses are separately represented.

Begin by building your professional advisory team. There are many instances in life where we hire professionals for both advice and to help facilitate major transactions; a divorce is among them.