#copelandlaw

Floridians are well aware that the state’s real estate market is still on the rebound from the economic downswing that occurred a few years ago. For couples in the midst of a divorce, finding a fair value for their real estate holdings can be a difficult task. Yet if those couples take advantage of divorce mediation, their real estate stands a better chance of a fair appraisal.

  The need for a fair market appraisal does not depend on which one of the parties plan to stay in the home, nor upon whether they plan to sell the home and split the proceeds. A fair appraisal by a quality real estate appraiser is essential, especially in today’s volatile market.  

  An appraiser should have an excellent grasp on the local real estate market, because an appraisal is based, for the most part, upon recent sales of similar homes in the area. In general, a good market appraisal will differ widely from the one given by the tax assessor.

  Updates to the home may not be worth what the homeowners think they are. Often, such updates are done for the needs of that particular family, and are of no importance to new buyers, who come with different needs. An experienced appraiser that has kept up-to-date with the needs of most current buyers is essential to obtaining a quality appraisal.

Weddings are a joyous occasion where two individuals who are in love gather with their closest family and friends to celebrate a union. While most believe their marriage is going to stand the test of time, it would be naïve to not even consider divorce as a possibility, since that’s where so many marriages end up today.  That is why some kind of contract needs to be written out before it ever gets to that point. This way both parties and their assets are adequately protected. In fact, there are two different types of agreements that the couple can choose. There is both the prenuptial and postnuptial contract.

Prenuptial Agreements

As you can probably figure from the name itself, the prenuptial agreement is drafted well before the marriage takes place. This contract, which usually goes by the name “pre-nup”, allows both sides of the union to come up with terms surrounding both their finances and properties. This is only fair since each person brings something different to the table. As far as what the terms are, though, this is usually agreed upon by the couple. For instance, if the couple has been married a certain amount of years, they may receive more in the divorce settlement. At the end of the day, this agreement is really just meant to cover both parties properly. That is why it leaves very little room for any questioning. Prenuptial agreements are basic and straightforward.

Postnuptial Agreements

Then, there are postnuptial agreements. For those who don’t know or have never heard of this term, those are contracts drafted up well into the marriage itself. It’s usually for couples who are going through a rough patch and think they may be headed for divorce. By filling out these papers and coming to an agreement, they are able to protect themselves. A postnuptial agreement can cover all sorts of issues like who gets the brunt of any financial debt in the case of a divorce, as well as who gets custody of the child if one of the spouses ends up moving far away from the other one.