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Should the home be kept or sold amid divorce?

When couples in Arizona and across the United States decide that divorce is inevitable, a bevy of problems and potential disagreements can arise. With couples that own a home, a big question is what to do with the home amid a separation. Unfortunately, the answer to this question is not always black and white. Whether to keep or sell a home after a divorce can depend on a number of factors.

For couples with children, an option would be to keep the house or sell later. Holding off on selling the home is a good suggestion for many families with children and can help reintroduce stability. Going through a divorce can be a burden, and a task like selling a house could add unnecessary stress to the situation. It may be easier to sell the home after the separation is finalized and both parties are acclimated to their new lifestyles.

On the flip side, it may be beneficial for divorcing couples to sell their house sooner rather than later. Instead of keeping the home for a number of years, couples could consider selling to avoid maintenance expenses and taxes. Both parties may also want to take remarriage into consideration. New spouses may not want to live in a house that was previously shared with a former spouse. Lastly, couple should ask themselves if keeping the home is really affordable.

Its no secret that keeping and maintaining a home is a lot of work and can be very expensive. The home is often the main shared asset in a marriage, so coming to an agreement regarding the home is crucial when going through a divorce. When couples decide to split, they may have many questions regarding finances and assets. Arizona residents with questions regarding asset division amid divorce could benefit from seeking the services of an experienced and knowledgeable attorney to help guide them through this uncertain time.

Source: U.S. News & World Report, "Divorcing? Should You Divorce Your Home, Too?", Geoff Williams, Oct. 11, 2017

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