After deciding to dissolve a marriage, many individuals may face a variety of difficult decisions while preparing a strategy to protect their futures. One of the most imposing factors may pertain to deciding how best to handle the family home, and this asset may play a significant role in the outcome of this process. Understanding some vital factors to address regarding the family home could help individuals in Pennsylvania who are facing a divorce better prepare to make informed choices about this asset.
The Family Home
Studies indicate that there might be numerous potential benefits to pursuing ownership of the family home during a divorce. Some may feel that keeping the home might allow them to avoid the stress of obtaining new living arrangements and moving to a new location. Parents may also wonder if keeping the home might help provide a sense of stability to the kids and help them better cope with the changes in their lives.
However, keeping the family home might not always be the best decision in every situation. Addressing the potential cost involved with maintaining a home after entering life on one’s own and the process of refinancing or obtaining a new mortgage could be vital to making an informed decision. In some cases, it may also be necessary to relinquish possession of other marital assets in exchange for sole ownership of the home, which might not be favorable or even possible in every scenario.
Addressing One’s Options
While knowing the factors to consider regarding how best to approach the family home during a divorce can be helpful, such an endeavor may also prove complex in nature. Fortunately, one does not have to face this alone, as there are attorneys who can evaluate a person’s situation and provide insight into his or her available options. A family law attorney can help a client in Pennsylvania better understand what is at stake and assist in preparing a strategy to seek the most favorable outcome possible regarding his or her future during divorce proceedings.