DAVID PISARRA

FINANCE ADVICE FOR DIVORCING MEN

In Property Issues, Strategy Issues on September 9, 2008 at 1:52 pm

In these times of financial uncertainty, when a couple goes through a divorce the few assets that most people have need to be divided as fairly as possible. Most men tend to want “out” quicker than they want to protect themselves. Men tend to believe, perhaps rightly so, that they can recover financially quickly, and while that may be true, there is no reason for a man to take more of a financial hit than his soon to be Ex.

I wrote in my column for Divorce360.com, THE MEN’S ROOM:

Homes have historically always gained in value, and momentarily ignoring the temporary ups and downs of today’s market, always will. A home is generally the largest investment that two married people have, as such there is frequently a great deal of equity, and more importantly, future equity, in that asset.             

A boat on the other hand, as the old joke goes, is a hole in the water, into which you throw money. Boats are without a doubt the single worst asset a man can take away from a marriage. And they do it all the time.             

They are bad because they are dead weight on someone’s financial wellbeing. Boats have ongoing costs to maintain them, like slip fees, scraping and engine maintenance. They lose value each month and very quickly become of no value, and you have to pay to have them scrapped.   

 I believe men should not take a long term loss (Giving up the house) for a short term gain (Getting out quickly) it doesn’t make sense financially or strategically.

A home is the biggest negotiating chip you have, use it wisely, remembering that it is only going to appreciate in value over the long term.

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