When people in Utah go through the dissolution of a marriage, they may understandably be concerned about what will happen to their family home. Who will keep it, or will they sell it? Here is a look at what couples would be wise to consider if one person is thinking about staying in the marital home post-divorce.
During the asset division process in divorce, people may be tempted to pursue the marital home for a couple of reasons. First, they may be emotionally tied to the house, as this is potentially where they reared their children and built many positive family memories. Second, the family home is often a couple’s largest marital asset, so naturally, both parties may be interested in keeping it.
However, before one party decides to keep the house in exchange for other assets, it is paramount that he or she can truly afford it. After the divorce, can this party handle the mortgage and home maintenance costs by himself or herself — without the other party’s income? Also, even if a person can afford to remain in the home in the short term, would this impact his or her long-term goals?
The reality is, making decisions about the splitting of divorce assets can be challenging and even overwhelming. For this reason, it is wise to consult a divorce attorney in Utah for guidance early on in the process. The attorney will push for a fair and comprehensive settlement that reflects his or her client’s wishes and takes into consideration the client’s best interests in the long run.