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Tips for dealing with the home in a divorce

When people in Illinois get a divorce, they may have a home they need to divide. A person who wants to keep the home should make sure that doing so is affordable. This common error was made by one woman who spent six months negotiating for the marital home and then realized that keeping it was unrealistic. The couple decided to sell the home, but one attorney says that couples often only reach this point after a court order.

Some couples may be able to compromise by deciding to sell the home at a date in the near future. This could allow time for a housing market to rebound or for a child to finish at a particular school. Some parents who keep the home for a short time might try nesting, an arrangement that keeps the children in the home while the parents take turns living in the home part-time. This is usually a short-term arrangement. It can aid children in adjusting to the divorce, but it can be both expensive and stressful for parents.

If one person is able to afford the home, a spouse may simply sign it over without money being involved, or one spouse might buy out the other. Not taking the other spouse off the deed is another common mistake. It is best to cut all legal and financial ties to prevent future problems.

It is not uncommon for people who are going through a divorce to allow their emotions to lead them to make financial errors. In addition to trying to keep the home, these could include agreeing to an unfavorable financial settlement because of feeling guilty or wanting to get the divorce over with quickly. Family law often involves making legal decisions about very emotional issues, so an attorney might help a person stay focused on the financial aspects of property division.

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