Generations of Attorneys Serving Generations of Clients

Your home, your divorce and your financial future

| Oct 2, 2019 | Uncategorized

The end of your marriage will mark the beginning of many new changes and transitions in your life. There will be financial changes and adjustments in how much time you spend with your kids. You may also have to find a new place to live or get used to living in your home without your spouse. This is a complex process, and choices you make during divorce will impact you for years to come. 

What happens to the family home is one of the most important and complex legal issues you will have to address during your divorce. While moving may not seem like a good choice, you may not be able to stay where you are. How can you make choices that will lay the foundation for a strong future and provide you and your children with stability for years to come?

Important questions to ask 

There are several things to consider when you are deciding what will happen to your family home. Some couples are able to address this issue out of court while others may have to fight for their financial interests at every step. Regardless of how your divorce will go, getting answers to the following questions can be helpful:

  • What do North Carolina state laws say about property division in divorce, and what could this mean for your individual situation?
  • Does it make more sense for you to sell the house or sell your share of the home’s equity to your spouse?
  • If you decide to keep the home, will you be able to afford the mortgage, insurance, utilities and insurance payments?
  • What is going to happen to your mortgage after your divorce?
  • What happens if you or your spouse owned the home before you were married? 

These are only a few of the many questions you probably have regarding your home and how your divorce will affect your future. These are important issues that will affect your finances and other aspects of your life for years to come, and it’s worthwhile to know all of your options before moving forward. 

Long-term security is possible

Long-term security is one of the most important goals in your divorce. If you are unsure of what will happen to your home or how you can seek a final order that makes sense, you may want to speak with a legal advocate about your specific concerns and divorce-related goals.