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Should I Keep My Home in Divorce? Questions to Ask Yourself

Should I Keep My Home in Divorce? Questions to Ask Yourself

Posted By Meyers Law Group, P.C. || 12-Jun-2013

If you are going through a divorce, one of the biggest properties that are likely a part of your family is your home. And while your first instinct may be to fight for the home, there are a few questions you will want to ask yourself before you make this decision. Men and woman (though primarily woman in many cases) hold a tight connection to the home, because it is the hub of their social life.

For many, your house is where you have friends over for your bi-monthly gatherings, and where you have the neighborhood over to celebrate the Memorial Day barbeque or where your family gathers once a year for the holiday celebrations. Whatever it may be, people hold a tight connection to the home of their family, and when a divorce occurs it can be difficult to determine if you want to stay or if it would be best to leave.

However, for many if they are keeping custody of the children, they may feel that keeping the home is the best for their family. Here are a few helpful questions to think through before determining what is best for your particular situation.

First, ask yourself why you want to keep the home. Think through both your emotional and practical reasons for keeping the home and not. Make a list and think through the details. Remember that when you and your spouse are filing for a divorce, it is very easy to use your emotions to drive your decision making, be sure to think financially instead.

Next, remembering that focusing on the financials is extremely important, ask yourself whether you can really afford to keep the home. While you may have deep sentimental value to the location, if it is going to send you into debt to maintain, it is not worth it!

Another important question to ask yourself is whether or not you have determined the total value of the assets and property. While you may have a nice home that is paid off, your need to decide if you're going to be comfortably able to maintain everything else that is associated with it.

For example, property taxes, gas and electricity, etc. the larger the property the more you need to pay the government, and even if the mortgage is paid off, if you own a big home you will always have to pay property taxes. Don't just assume that you have to stay in hat home either, if you feel that moving on is best for you and the family, then do so, even if it means finding a small apartment for a time.

Contact the Meyers Law Group today to retain the services of a family lawyer in Long Island who can help you with the process of your divorce and determine the best course of action in regards to your property division.