Should I Keep the House for My Kids During a Divorce?
Your marital home is probably one of the largest financial assets in your divorce. Whether you should keep the marital home for your kids during divorce is a critical issue you must address. If the children are too young, you might not want to disrupt their comfort zone during this difficult transitional period.
But it may be hard for you to keep the house without financial cooperation from your ex-spouse. There are pros and cons to keeping the family home for children in a divorce, especially if you are a stay-at-home mom. A seasoned and proven divorce attorney can help you determine the right choice for you and your family.
Keeping the Marital Home Can Be a Double-Edged Sword
Keeping the family home following a divorce is not the best choice. There are a lot of factors you need to consider. For instance, you will be in charge of continuous maintenance and care. This will require both time and money. You will also need to be on top of property taxes, mortgage payments, and other expenses, such as homeowner’s insurance and utilities.
There are always other options if you think that keeping a house will be expensive, stressful, and time-consuming. You and your spouse can always decide to sell the marital home. This way you can divide the sales proceeds equitably as per the divorce decree. Furthermore, it’s important that you inform your children of the decision and be patient with their feelings.
The only time you should keep the family home following a divorce is if your kids are having a terrible time adjusting to the divorce. You should not sell and move away if you think your children will be negatively affected by changing environments.
On the other hand, it is not a good idea to continue living in a home you can no longer afford. You need to be realistic in making this decision. Don’t hesitate in asking your attorney for advice. It may be a smart decision to stay in your house if you can afford it and know that its value will only increase over time.
Post-Divorce Relocation Laws in Alabama
You may need to come to an agreement with your ex-spouse if you are thinking of moving your children to a new house. In some cases, you may also require a court order before relocating. Make sure to speak with a seasoned family law attorney before moving. Even if you and the other parent come to an agreement about the relocation, a court order may still be necessary. You may need to address other matters, such as child support and child custody.
The parenting plan may need to be modified to accommodate any additional travel from the new house to your ex-spouse’s home. You can petition the court for assistance if no agreement is reached with the other parent regarding relocation.
Get the Family Home Appraised
You may want to have the family home appraised before you get a divorce. This will help ensure that the spouse not residing in the house gets a fair amount of money. It will also give a fair idea about the worth of the house to the spouse that keeps it. This information can be a key factor when deciding whether to keep or sell the house.
Keeping the house can provide stability to your kids during a divorce. It can help them get through an otherwise chaotic time. You can always keep the house for a short while before deciding to sell it and settle into a new lifestyle. This will also give your kids enough time to come to terms with the divorce.
Many parents think that selling a house is the best decision since it harbors unhappy memories. This is usually the right thing to do if a marriage is abusive. Children do well when there is a clean break and a fresh start. Whichever route you decide to take, you need to come to an agreement about dividing the equity and contents of the home. You may also want to discuss the terms of the house buyout.
You may want to sell the marital home and move out if the value of the house has increased substantially over the years. You can give your kids a fresh start in a new house and let them make new memories. You should always consult with a real estate attorney and family law attorney before selling the marital home.
You may think it’s a salient idea to sell the house and use the cash towards a down payment. In relation to this, there are several factors that come into play when making a decision. A compassionate attorney can help you weigh the pros and cons and take the right decision.
Our Trusted Divorce Lawyers are Here to Give You Strong Legal Advice and Support
At Smith Law Firm, we make sure that our clients have all the help they need to get through a difficult time. Our family law attorneys will craft legal and financial strategies that pave the way for a better future for you and your ex by trying to maximize the benefits. To schedule your initial consultation , call us at 334-377-1674 or fill out this online contact form.
