Relying on Your Family of Origin After Divorce Isn’t Just About Money
It is hard to look on the bright side about divorce, but a decade or so after your divorce becomes final, you might be able to look back and see how your divorce brought you closer to your parents and siblings. Once you were no longer a family unit with your ex-spouse, you might have strengthened your family ties with your family of origin, enabling your children to have a closer relationship with their grandparents, aunts, and uncles than they would have had if you had stayed married to your ex-spouse. Some people move back in with their parents after getting divorced. Even though you may try to show the world that you are proud to be part of a multi-generational household, you may secretly miss your independence. Others turn to their parents for financial help, if their parents can afford this. These are not the only ways that your family of origin can provide more than just emotional support during your divorce. For help envisioning what the new normal will be for your family for the first few years after you divorce, contact a Mississauga family lawyer.
Your Parents May Be Able to Help You Keep Your Former Marital Home Without Giving You a Penny
If you relied on your parents financially after your divorce, even though you had been financially independent of them since you were in your early 20s, you are not alone. Running a household on a single income is a big project, even if your ex-spouse pays child support; in most divorce cases, both spouses feel poorer after the divorce. You might be too proud to ask your parents for money, but you may need their help to keep your marital home.
If you and your ex agree that you will keep the marital home when you divorce, but both spouses’ names were on the mortgage loan during the marriage, you will need to refinance the mortgage so that it is in your name only. Especially in today’s housing market, it is difficult for a newly divorced person to qualify for a mortgage loan, especially if your ex-spouse’s income is higher than yours. One possible solution to this problem is for your parents to cosign with you on the mortgage loan. This way, you can benefit from their strong financial position without them giving you a penny.
Family Members Can Help You Keep the Peace With Your Co-Parent
Another way that family members can help is by being a buffer between you and your ex-spouse if you have a contentious relationship. It can be as simple as your sister answering the door when your ex-spouse drops off the children at your house or your dad driving the children to your ex’s house on a Friday evening.
Contact Zagazeta Garcia LLP About Finding a New Normal After Divorce
A family lawyer can help you set the terms of your divorce so that you and your children can easily adjust to your new life. Contact Zagazeta Garcia LLP in Mississauga, Ontario to discuss your case.
Source:
loanscanada.ca/mortgage/cosigning-on-a-mortgage-things-you-need-to-know/
