In this episode, we will discuss divorce and life insurance considerations.

Let’s talk life insurance. There’s a lot of moving parts to this.

This is probably going to be the most we’re going to have to talk about here. I mean some of this, there’s going to be an overlap but there are issues of support and potential that to protect people.

So one of the key issues here, one of the things that people probably are thinking about is most likely those people have life insurance policies have named their spouses as the beneficiary.

Meaning that if there’s something happened to them their spouse will be the one to get the proceeds from the life policy.

Obviously, if you’ve gone through a Divorce and as you’re going through the Divorce, you may want to make this change immediately.

You might say, ‘I don’t want that person to be, well I’m going to pull them off my life policy.’

On California at least you’re not able to pull your spouse off as a beneficiary without their signature prior to Divorce.

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In this episode, we will talk about how to use life insurance to protect child support during your divorce in California.

Well, one of the other places where this goes, this is some actually, creating need for additional life insurance where people may have not thought about it before.

Let’s say a husband and wife Divorced.

And as a result the husband has to pay some support to the wife on a monthly basis for X number of years whatever that maybe.

Maybe until the child is 18 or something like that. Well, what happens if something were to happen to that primary wager, the father the male in that scenario?

Well, same what happened in the not many would stop coming. So a lot of times what people would do and they do this to benefit their children too, is to go ahead and take a life policy.

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In this episode, we will talk about how to determine life insurance needs after divorce.

So we had a big picture everything that should be looked at when going through Divorce.

We talked about term insurance for covering the spousal support. We talked term insurance for covering potentially the children’s college education or maybe paying off their student loan debt.

What are other things to discuss?

If I were talking about insurance today and I was going through a Divorce. And I’ve been married for 19 years.

And two kids are still minors, what things would you say, ‘Tim, if you want to make sure that they’re taken care of aside from the college and the spousal support, what are the things to talk about?

It will depend on the situation your spouse is in. But yes, anything like that when there’s a foreseeable expense in the future might be a really good thing to add into the life insurance.

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In this episode, we will talk about divorce paralegal, Realtor talk marketing and business.

As a marketing strategy, we use videos, social media, and radio. It’s an information base there out there for people who are researching for this information.

People want to see you. They don’t want to see an actor. They don’t want to see somebody that’s trying to post themselves through another person trying to be the best of the best.

They want to see transparency.

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In this episode, we will talk about how to make sure your Realtor understands divorce.

I have to say the Divorce scenario is if you’re going to hire somebody to do it, make sure they’ve done it.

Make sure they understand the process. Make sure you get good advice. Make sure they sit you down and get a game plan with you.

Don’t take it for granted that they say, ‘Oh, I’m an expert at doing Divorces for Real Estate and selling out.’

Don’t take their word for it. You got to sit down. They should be able to explain to you how the process works.

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In this episode, we will talk about if you can sell your home at a later date during your divorce in California.

I skipped one of our four. I missed see the slides. Sell at a later date.

So if I had four options. You had another about the rental. That was good.

Sell, refinance, keep existing mortgage, sell at later date or rent it out. We have people doing that.

But selling at a later date, we have folks that have either a primary residence or a vacation home or a rental of some sort, that they’re making rents on. Okay, let’s say, it’s a rental or any of those types of homes.

And either the values not there or they want to hopefully go up in value so they can sell.  So we have a specific circumstance with a client, vacation house, they make rent.

It’s like an Aspen or something like that Big Bear I don’t know. And they rented out and they make money up but they sold, there’s not enough value. They overpaid for it back when real estate is blooming.

So they want to wait several years before they sell it. That was the agreement.

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In this episode, we will talk about how to value your home during divorce in California.

So they’re going to sell. Now they have to come to an agreement on what’s it worth.

We had clients in here couple weeks ago. They had everything settled. The house is actually paid off in cash. So they are in good shape financially.

The issue was what is house worth? So if they’re going to divide it evenly coming to a firm like evaluator.

In this case one party thought the house was worth $50,000 more than the other party.

And they’re looking at comparisons and all that. But what’s the best way to come to an idea? Do they get independent appraisers?

Do they get independent agents to do like of a compared market analysis? This particular client I said, ‘Look, you’re talking about $50,000 whole. It’s really about $25,000 to you, if they’re dividing which they’re like ‘Okay, that’s not that bad.’

If they can meet in the middle, I mean there are lots of options.

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In this episode, we will talk about is you should Keep your existing mortgage and let spouse stay after divorce.

Some people are misadvising their clients or in Real Estate and say, well, you can pull the spouse off with the quick claim deed. But that doesn’t fix it with the loan.

So the cleanest break you can ever had, would be is just get rid of it, sell it. Or refinance it completely out.

If one of the party is capable and one of them wants to stay in the house, absolutely!

I have to say we’ve had a lot of clients just of financial reasons quick claim off the house and just take the risk of being on the loan.

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In this episode, we will discuss refinancing your home during your divorce in California.

Just from our perspective is, two things. One spouse usually wants to stay in the home. But usually because of they have their kids and they want to continue raising their kids.

In the house and in the school and they’re trying to keep a little bit of normal scene.

But the issue they run into is, does that single parent have the financial ability to refinance in their name?

After one of the spouse wasn’t working obviously that’s not the case. If it’s the working spouse, perhaps they can qualify it for refinancing.

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In this episode, we will talk about if should you sell your home during divorce in California.

Part of what we do is making sure that the people that come to us have the information and resources available.

We bring up things that they probably don’t even know or something they need to think about. So if you do not want to file for Divorce you don’t really need to do that.

But they haven’t thought about all the other things that are involved with this.

So selling their home or potential for needing mediation are all leading to Bankruptcy and all these things can kind of intertwined with.

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