Comments on: During a divorce is it better to go for property or cash?

By: v b

v b — Mon, 30 Nov 2009 20:50:59 +0000

Take copies of your records to a CPA.

Have them explain the tax issues when the properties are sold.

Invariably in a divorce, someone will suggest that you take the property worth $500,000 and they’ll take the cash for $450,000 and try to make it sound like a win-win situation.

The problem is, the cash is already post-tax and when the property is sold, the capital gains needs to be paid. That property that’s worth $500,000 may have a built in gain of $400,000 and after tax may only clear $300-$400,000.
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By: bankchick

bankchick — Mon, 30 Nov 2009 20:00:59 +0000

take him for EVERYTHING he owns!!!!! Cheating bastard!!!
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By: leshia78

leshia78 — Mon, 30 Nov 2009 19:55:59 +0000

go for what will piss him off more……………..that is what i did
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By: Answer Queen

Answer Queen — Mon, 30 Nov 2009 19:09:59 +0000

If you don’t mind being linked to the economic cycle of the property (like real estate – it’s a slow market now), then go for property.

If you want to be able to invest in any market that supports your goals and desires, go for the cash.
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By: sunshine_mel

sunshine_mel — Mon, 30 Nov 2009 18:31:59 +0000

half of each – you’ll need somewhere to live, but owning a property doesn’t generate money, so if you can i’d get some of the viable business options and a property or two – money and a house
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