Ages Posted May 15, 2023 Share Posted May 15, 2023 What to do now? Im plannning to devorce my wife and we have two kids. We want to make it as simple as possible for the kids sake. What order would work best, fileing with the state for divorce then do mediation of assests, and do divorce mediators able to walk me and my ex through the process? . Anyone have experience with one party buying out the other on their home? Or even co-dwelling? Link to post Share on other sites
Weezy1973 Posted May 15, 2023 Share Posted May 15, 2023 Basically you add up all your assets and liabilities and split in half. Buying out a partner from their home involves getting the home appraised and the person buying the house gives the other person half. If neither can qualify for the mortgage usually you need to sell and downsize. Link to post Share on other sites
basil67 Posted May 15, 2023 Share Posted May 15, 2023 The lawyer or mediator would be best placed to give you more indepth advice. But I have no doubt that if the two of you are both civil and fair to each other, using a mediator will save you a lot of money! Link to post Share on other sites
Blind-Sided Posted May 16, 2023 Share Posted May 16, 2023 1 hour ago, Weezy1973 said: Basically you add up all your assets and liabilities and split in half. Buying out a partner from their home involves getting the home appraised and the person buying the house gives the other person half. If neither can qualify for the mortgage usually you need to sell and downsize. Basically..... this. You can do it all on legal zoom if you don't want the legal fees, and you can both agree. You do not want to even think about co-dwelling. you will eventually argue, and it will fall apart... and that will be hard on the kids. You will also need to work out a custody agreement. I wish you peace in moving forward. (And think of the kids) Link to post Share on other sites
Wiseman2 Posted May 16, 2023 Share Posted May 16, 2023 (edited) 6 hours ago, Ages said: . Anyone have experience with one party buying out the other on their home? Or even co-dwelling? Since marriage is a legal contract you'll need legal advice on how to dissolve it. Contact an attorney for a free consultation and perhaps you can get advice on mediators and other low cost options. As far as coparenting you'll also need advice on this because courts protect the children's rights in divorce. You mentioned her parents live in the house. That could significantly complicate things. Edited May 16, 2023 by Wiseman2 Link to post Share on other sites
Ageless Wisdom23 Posted May 23, 2023 Share Posted May 23, 2023 (edited) My best advice is to get a good reputable lawyer who deals with Divorce and things of this nature. They will set up appointments with you to discuss every step needed in this divorce. And she will have her own lawyer who will most probably meet with your own Lawyer, Along with you and your wife to et😦ch everything in stone. Hopefully, No Problems. Edited May 23, 2023 by Ageless Wisdom23 Link to post Share on other sites
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