Is retaining the family home post-divorce right for you?

On Behalf of | Jan 27, 2021 | Marital Property Division |

Dividing marital assets during the divorce process can be one of the most stressful endeavors you have to undertake. The stakes are high, too, given that the way in which these assets are divided can affect your financial future for a long time to come. As much as you might want to rush through the process so that you can break free from your marriage and start your new life, you really want to be diligent in your analysis of your marital assets and which ones you should fight for.

Should you fight for the family home?

It really depends. A lot of people are emotionally attached to their homes, but negotiating for it during the property division process might not make financial sense for you. This is because doing so will put you in a position where you’re solely responsible for not only the mortgage, but also any maintenance and upkeep on the residence. This can be financially burdensome, especially if you relied on your spouse’s income to a certain extent in order to maintain the residence.

But there’s more that you’ll want to take into consideration. For example, you might want to think about who will have primary physical custody and what retaining the home will mean for their stability. You might also want to take into account what marital assets you could get in exchange for your share of the family home. Retirement accounts, for example, may end up proving more valuable.

Know your options and be informed

It’s important to recognize that your set of circumstances are unique. You can’t rely on any sort of cookie cutter approach. You need your case to be carefully analyzed for what is right for you and your children so that you can identify which options are truly viable. If you’d like assistance with that process, as well as negotiating and litigating for what you deserve, then it might be time to speak with an experienced and successful family law attorney.