Alabama couples who have decided to divorce may find themselves overwhelmed with more decisions. While it may be easy to decide who gets the furniture and how to separate book collections, some assets are more difficult to divide. One of the biggest questions may be what to do with the house. Dividing incomes and assets may make keeping the house difficult without some careful negotiating with the help of a family law attorney.
If one spouse is not emotionally ready to sell the house, it may be possible to delay its sale. This may be especially important if there are concerns about the stability of the children. However, if the mortgage remains in both spouses’ names, this may mean one spouse takes a risk that the other will not contribute fairly to its payments and upkeep. Being stuck with a house and inadequate means to maintain it can lead to serious financial struggles.
Some parents in Alabama have had success with nesting. This arrangement leaves the children securely in the family home while the parents alternate living there. It is essentially the opposite of typical custody arrangements that send the child from house to house each week. While it is rarely a long-term fix, it may give a family a chance to adjust to their new situations before deciding to sell the house.
Because laws vary from state to state, having assistance before making crucial decisions is always beneficial. With the marital home, couples may find that tax implications help them decide. Since every family law circumstance is different, individual legal counsel is often recommended to ensure the rights of both spouses are protected.
Source: U.S. News & World Report, “Divorcing? Should You Divorce Your Home, Too?”, Geoff Williams, Oct. 11, 2017