Should I Keep the House After Divorce?
Property division is a hot-button issue during any separation. If you're going through a divorce, you probably have a lot of questions about asset and debt division. One of the most common questions asked during divorce is "Who will get to keep the house?" The court will determine who retains which assets, but consider the following question before you decide to fight for the marital home: Do you want to keep it?
In the middle of a divorce, you might be tempted to fight for as many belongings and assets as possible. The more, the better – right? In reality, some large assets can be more trouble than they are worth. Most households in the United States rely on two incomes. After a divorce, it may be difficult to maintain the home using one income. If the cost of living in the home will remain the same while your income decreases, keeping the marital home may be unwise.
Finally, consider the real estate market before you decide to fight for the marital home. The value of your home is flexible. In other words, the home could be worth half of its current value within a year. Liquidating large assets is more secure way to create financial stability for your new, single life. Consider selling the home or agreeing to keep other assets instead.
Austin Divorce Lawyer
Are you facing an asset division battle in Austin, Texas? Our team of Austin divorce lawyers can help! At Menduni Martindill, PLLC, we are wholeheartedly dedicated to helping Texas families obtain fair divorce agreements. Whether you need help fighting for the marital home, acquiring custody of your children, or standing up for your rights as a father, our lawyers have the passion and experience to obtain the results that you need. Contact us today to learn more!