Property division is a sticking point in many divorces, as both individuals are fighting to secure their fair share ofassets.
Even if you have high-value assets, your family home will move to the front and center. This will lead you to address the question of whether you want to fight to stay in the home after divorce.
Here are some things to think about:
- Your children: If you have children with your ex-spouse and you share physical custody, you may want to consider keeping the home to provide the children with stability. Sometimes relocating the children unnecessarily causes unnecessary turmoil for your children.
- Expenses associated with the home: Even if you want to stay in your home, the financial obligations of doing so may not align with your future. Can you afford the mortgage payment on your salary? How about the taxes, insurance and maintenance costs? You do not want to put yourself in a losing financial position from the start.
- Your ex-spouse: If both of you want to stay in the home, you’ll need to find common ground to proceed. For example, you may decide to forgo this asset in exchange for others. Or maybe you both realize that the only way to move forward is to sell the home and equitably divide the proceeds.
If staying in your family home after the divorce is important to you, consider your options for making this happen. Our legal team will help you consider the options available to you and develop the appropriate strategy for protecting your legal rights and realizing the best path forward.