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Creative Marketing

While driving through the Baltimore/ Washington D.C. area, there was a billboard that said, “Don’t get a divorce…get a bigger house.” Four days later, the advertisement is stuck in my head.

Although we are all for buying the house of your dreams, it will not save your marriage. What really happens to your house in a divorce?

1. The marital home is the most sought asset during a divorce. At the beginning of the divorce process, everyone wants to keep the marital home; however, it is rare that that both parties can afford to keep the home on their one income, often determining who could actually keep the house;
2. One spouse keeps the house. If one of the parties can afford to keep the home, they should refinance under their own name and based on their individual income. At the time of refinance, the ownership is often transferred by Quitclaim Deed;
3..Get your name off the mortgage if you don’t own the house. If you have signed a Quitclaim Deed to relinquish ownership rights, make sure that you don’t have any financial responsibility for the mortgage or taxes. We recommend this for both security (in case your ex doesn’t pay the mortgage for any reason) and because any financial obligations will limit your ability to secure your own credit for a future rental or purchase;
4. Sell the house. This can be done either before or after the divorce occurs, but it’s easier if the parties agree how the proceeds will be divided before the house is put on the market;
5. It gets more complicated when the mortgage exceeds the value of the home. Couples that cannot afford to pay the overage due usually have to choose a short sale, renting the home or continuing to live together;
5. Buying a house during the divorce process isn’t always a great idea. The home will be considered a marital asset and subject to division. Also, mortgage underwriters may be a bit concerned about your future income and assets, which could cause delays.

As always, please let us know if we can assist you with any concerns or legal matters.

Warm Regards,
John & Faye

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Put Away the Swords

“You didn’t always hate each other. There had to be nice moments, during the courtship, maybe? Or the wedding?”
-John Beckwith, Wedding Crashers (2005)

The “Divorce Nisi” period is one of the strangest legal concepts for people to grasp. Most people assume that their divorce is final on the day that a Judgement of Divorce is ordered; however, in Massachusetts, parties have to wait 90 days longer for their divorce to become final or absolute.

After months of fighting over airline miles, the Nisi period gives the parties an opportunity to “put away the swords” and consider reconciliation before their divorce becomes final. How often does this happen? Not often, but we always believe in looking at a glass half full and with the hope that it could. There are two defining characteristics of the “Nisi” period:

1. Neither party can remarry; and
2. If the Nisi period has not ended by December 31, the Parties will considered married for tax purposes and must file “joint” or “married, filing separately” for that year.

As always, please let us know if we can be of assistance to you.

Warm Regards,
John & Faye

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Independence.

It’s ironic that we approach a holiday week that celebrates independence from England by reflecting on how independent we are not.  This year is a little different for us. We aren’t going to comment on the immigration issues that divide our country at the moment. What we are thinking about is how we are never truly independent.

This week, the announcement was made public by Wicked Local that we won the best local attorneys in the region. As the news broke, we couldn’t help but thinking about how we got here and it’s not from being independent.

We are the faces of WJS Legal, but we are not the reason for our success. We would be lost without Katie and Kyla, who help keep us organized and moving forward flawlessly.  We could not succeed without our realtors and lenders. Our survival depends on our family law clients who trust us with the most intimate and sensitive parts of their lives. We need all of you, who believe in us and support our work.  We are, truly, only two people who are surrounded by greatness.

Thank you for always supporting us and Happy 4th of July!
Warm Regards,
John and Faye

Our two minutes of fame:

http://www.wickedlocal.com/section/favoriteswinners category=local%20shopping&town=north%20attleborough&cbResetParam=1

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Mmmmm….Donuts….

Do you know what goes really well with chocolate chip waffles and Fruit Loops? Donuts!

Not really, but there are many grandparents who believe “what happens at Nana’s, stays at Nana’s.”  We  know one set of grandparents who have something called “BG Day,” where breakfast with grandparents consists of desserts first, followed by an actual breakfast if the kids have room in their bellies.

Grandparents have certain rights. They get to load them them up on empty calories and sugar then send them home to crash. They get to buy them gifts for the rarely recognized holiday of “Saturday.”  Most importantly, they get to visit with their grandchildren.

It’s not uncommon that grandparents get caught in the cross hairs of divorce. In the most extreme circumstances, grandparents are denied visitation by their “outlaw;” however, unless there is a justifiable reason to deny a grandparent visitation, it is usually presumed that it is in the best interest of the child(ren) to foster that relationship.

As always, please let us know if you have any questions about this or any other matter.

Warm regards,
John and Faye

For more information, please see:
https://www.mass.gov/guides/massachusetts-law-about-grandparents-visitation-rights

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Said Nobody Ever.

“Title insurance is the most exciting topic EVER!”

– Said nobody in the history of the world

It IS really important though. If you’re thinking of buying (or if you have clients who are), check out this information from Old Republic Title:

 

 

http://www.oldrepublictitle.com/blog/what-every-realtor-should-know-about-owners-title-insurance.asp

 

As always, please let us know if you have any questions about this or any other matter.

Regards,

John & Faye