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Melissa A. Featherston

Should you move out of the marital home?

Financially maintaining a household can be quite challenging for a couple. There's the mortgage, the utilities and the general upkeep associated with home-ownership. Going through a divorce can really throw a wrench into the situation though. Who should keep the home? Does it even make sense to keep the home? Between family memories and general comfort, emotions tend to run high when talking about the marital home. However, it's important to look at the situation from a financial and logistical standpoint, not a purely emotional one.

Finances and other considerations

One online article looked directly at the issue of the marital home and the period leading up to divorce. As the article points to, who is going to move out is dependent not only on personal preference, but also in ownership details.

For example, if you are the sole owner, then you have the legal right to stay in the house. But, if you and your spouse jointly own the home, now is the time to assess who wants to stay and if it's even financially possible once the divorce is final. In all honesty, looking to the future, you may even now be realizing that selling the family home will make the most financial sense.

In talking about finances, keep in mind that running a household is more than just the mortgage. To name just a few expenses, there are utilities, property taxes and insurance. Then, there are the costs associated with general upkeep, but also unexpected costs like needing a new furnace.

Know the full financial implications of your divorce

While the marital home can be the largest asset a couple owns, it is still just one piece of the financial puzzle of divorce. Considering the fact that the choices made today will greatly impact your financial future, now is not the time to make rash decisions. This is where an attorney can step in, to help you look at the big picture and how it relates to Missouri family law. This attorney can also act as an advocate on your side as you navigate through the process of divorce.

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Local314-400-2302 Toll Free888-203-1942