When a couple goes through a divorce, there are countless things they need to agree about. Who will pay spousal support? What happens to the engagement ring? Will one benefit from the other’s pension? If they have children, they need to decide where the children will live and how often they will be with each parent. If the couple owns a home, they will need to decide who will become the sole owner of that home. If you are planning a divorce and are unsure of the future of your family home, a Kane County, IL property division attorney can answer your questions.
The Future of a Family Home Can Be Complicated
When a couple gets divorced, their home can become a point of contention. They may both want to stay in the home. They may both want to move away. It could be a source of painful memories, but at the same time, it can serve as a comfort for children who are familiar with it and seeking stability in a time of transition and change. Money can be divided, but a home can not, and if both spouses wish to keep it, property division can become a source of much stress and negativity.
What Do I Take into Account When Thinking about Who Should Get Our House?
When you are in the process of a divorce, there is a lot for you and your ex to figure out, with the help of your respective lawyers. Of course, every person will have their own background, circumstances, and personality that will help form their opinion about what they think should happen with their home. However, several factors are generally taken into account when this very important decision is made, including:
Your custody arrangement: If the couple has young children whose custody they share, the family home may serve as an important source of stability in a time of upheaval. If the parent who has sole or main custody can keep living in the home, it would mean that the children could stay in their school, which is also important for their emotional well-being during this difficult time. Of course, if one parent was abusive and the other has custody, the home may serve as a source of painful memories for them. The main thing to consider is whatever is in the children’s best interests.
Emotional considerations of the couple: Some people wish to remain in the house that they considered “home” for years. For some people, the “family home” offers painful memories of bad times, but the financial loss would be detrimental. When you are about to get divorced, you must figure out what your family home means to you. This will help you determine whether the home is something you want to fight for or something you want financial compensation for.
Financial considerations: You may be in a position to maintain your family home all on your own, or you may find that this would be financially impractical for you independently.
There are many possible costs to cover including:
The mortgage balance
Sole responsibility for home maintenance
Under some circumstances, your divorce lawyer might even recommend that keeping the family home is not in your best interest.
Schedule a Free Consultation with a Kane County, IL Divorce Attorney
If you are about to divorce your spouse and you share a home, an experienced St. Charles, IL property division attorney will be able to answer a lot of your questions. Call [[title]] at [[phone]] today to schedule your free consultation.