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Involved in a Divorce? Tell Your Attorney EVERYTHING About Your Home and Finances

Posted on Jun 11, 2012 in Bankruptcy Information, Real Estate

If there is one breed of attorney that is always criticized, it’s a divorce attorney.  Nearly every lawyer will have heard a complaint about somebody’s family law attorney that didn’t listen, that ignored them or was walked all over.  It’s always the attorney’s fault!

Here at Lakelaw, we prefer to work with attorneys who specialize in family law because it is important that lawyers in that field stay aware of everything going on financially.  Why?  Because divorce is a process that splits a marriage – but also divides assets and debts.  If these assets and debts are being divided, created, or confused, it only makes the poor divorce attorney’s job harder, and will cost their client much more in fees.

Today I received a call from a woman whose husband had compelled her to transfer her share of the marital home to him.  He may or may not have attempted to modify the mortgage without her knowledge.  It is critical for her attorney to know:  (1) How much is owed on the house as a result of any loan modification or refinance; (2) Whether it would be worth seeking to get the deed transfer reversed so she might be able to preserve the home; (3) How much she would have to pay to save the home: and (4) Whether the transfer would have any consequences for an upcoming foreclosure. These could make a big difference in what she receives in support and where she may be living months from now.

Lawyers have enough trouble trying to dissolve a marriage and let two very angry people fight over possessions and payments.  If they are surprised or not informed when a transfer of an asset happens, it’s going to mean their client could be left emptyhanded later.

The moral of the story:  You pay for an attorney, tell them Everything.   If our clients are in the middle of a divorce, we work hard to make sure their other attorneys know exactly what is going on and why.  It’s a collaberative process, and nobody should be kept in the dark.  We promise our clients courtesy, compassion, and care.  Other lawyers deserve the same treatement.

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