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Divorce and the marital home

Dividing assets when ending one's marriage can prove to be a difficult task. Not all couples can agree on what is best. For example, one thing Alabama couples who are going through the divorce process may struggle with is trying to decide what to do with the marital home.

When discussing what to do with their residence, divorcing couples really only have three options. First, they can sell the home and split any proceeds or shared debt. Second, one spouse can keep the home and buy out the other party. Third, the couple can keep the home for the time being.

Options one and two tend to be the most common solutions for dealing with the marital home during divorce. However, option number three is gaining more ground these days -- particularly among couples with children. More divorcing couples are choosing to live together post-divorce to make things easier on their children or they are trying something called nesting where each parent takes turns living in the home with the kids. This option offers less disruption to the children's lives, though it can be difficult for parents to maintain for a long period of time.

When it comes to figuring out what to do with the marital home, it really is a matter of personal preference. Some couples would rather just sell as quickly as possible and move on, while others see value in keeping the home. It all comes down to what makes sense personally and financially for each party. Alabama residents who are preparing to go through the divorce process can turn to legal counsel for guidance on this issue.

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Law Office of Sebrina L. Martin, PLLC | 6728 Taylor Court |Montgomery, AL 36117 | Phone: 334-513-7898 | Map & Directions