Law Offices of Barry I. Finkel, P.A.
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The family home after divorce: An albatross or haven?

When you go through a divorce, it is a very emotional time. Just when you need to be making the most rational decisions as possible, your emotions are going haywire. Simply getting through each day is a challenge, but now is when you are tasked with determining who will get what assets in your property settlement.

Some Florida residents fight tooth and nail over who gets to keep the family home. But sometimes, those energies could be better redirected at keeping some other asset.

Whether to keep or sell the home is a major concern. This is particularly true when there are young children who need all the continuity they can get to move through the divorce. In some cases, it is worthwhile to retain the family home in your property settlement. But you should be able to afford to maintain it on a single income without counting child or spousal support, because those will usually end.

You could trade your share of the house for a larger portion of the retirement benefits. But if you are young with many working years ahead of you in which to rebuild your pension plan, you might do better by keeping the house.

This is especially true if not that much is owed on it, and you have the credit to refinance in your name only. It also depends upon the strength of the real estate market in your neighborhood. Sometimes, it's a good idea to just sit back and wait out a saturated or slumped market.

Your Florida family law attorney can offer advice and guidance to those in similar situations.

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