It is the most valuable investment you will ever make. For many couples, purchasing a home is the fulfillment of a lifelong dream. Unfortunately, not all relationships are built to last. When a marriage comes to an end, often one of the most complex issues is which party gets the keep the family home. Ask any Salt Lake City divorce attorney and each one can tell you endless stories about the complex nature of Utah family law. But there are some basics on how the court determines the allocation of assets and property.
The Importance of Owning Property
When it comes to divorce, there are no winners. But there is plenty to lose. If you are going through a divorce, it is highly important to fight for your home. As your biggest asset, owning or selling a house after a divorce can bring a lifetime of changes. First, it is vital to provide the court with sound reasons why it is in your best interest to maintain rights to the property. Among the most important is for the best interest of the children. Providing a stable home environment is crucial for their development and happiness. Being forced to move can often be a traumatizing experience for the children. Another reason many people fight to keep the rights to their home is their emotional attachment to the property. A house is more than just a place to live. It is a place where you have put in a tremendous amount of time and work to build a good life. It is understandable to stay at a place that provides great memories. But not all emotional reasons are looked at favorably by the court. Fighting to keep the family home due to spite, greed, control or vindictiveness could result in an unfavorable settlement.
Can You Afford To Keep Your House?
Owning a home requires a tremendous amount of responsibility. Another important factor the court will take into consideration is whether you can afford to keep the home. Is your income sufficient to maintain the same lifestyle and family responsibilities prior to the divorce? It is an important question far too many homeowners going through a divorce do not properly take into consideration. While you may have a strong emotional attachment to your home, keeping your property may not be the most sound financial decision. Between the mortgage, maintenance, and property taxes, there are plenty of expenses that must be accounted for. The best solution is to hire a financial advisor who provides sound advice on whether keeping your home after a divorce is your best option.
In many divorce cases, both parties are able to come to an agreement on how to divide the property. Many of these matters can be resolved through divorce mediation or simply talking it out among themselves. But should you decide to go through divorce court, there is always a risk placing the decision in the hands of a stranger dressed in a black robe to make the most important decisions of your life.
A Salt Lake City Divorce Attorney Can Help
The decision to keep your property is one of the most important during the divorce process. It is important to seek representation from an experienced and knowledgeable family law attorney with a track record of placing clients in the best position to succeed. Salt Lake City divorce attorneyEmy A. Cordano understands the challenges facing her clients. She utilizes an aggressive and compassionate approach to help clients achieve their goals. To learn more, contact her Salt Lake City law office today and schedule a consultation to discuss your case.