Protecting What You Value Most
Divorce and selling the family home
Divorcing couples in Texas will likely have to resolve many issues, one of which is deciding what should happen to the family home. There are many options to consider, and each party may have their own ideas that may conflict with those of the other party.
One of the more popular solutions is for the home to be sold and the proceeds to be divided between the two parties. However, before divorcing couples make a final decision, they should carefully consider all of the factors of selling a home during the divorce process.
It is important to have the right real estate agent with the appropriate experience. Specifically, they should have experience in selling homes for divorcing couples. The agent will have to be able to provide objective advice, circumvent the conflict that can be common with divorcing couples and do so without choosing sides.
There are a number of advantages to selling a home during the divorce process. Both parties can use their portion of the money earned from the sale to start a new life after the divorce is finalized, possibly by purchasing a new home.
It will also be easier for a divorcing couple to address any other joint financial issues they may have. Many couples have joint debts, like credit card balances and loans, which have to be managed, as well as pensions and retirement accounts that may have to be reallocated.
A divorce law attorney could advise a client about how marital assets should be divided. The attorney may work to obtain favorable divorce settlement terms regarding the division of the family home, joint financial assets and other high-value properties. If necessary, litigation can be used to protect the rights and interests of clients as the attorney works to obtain the desired terms.