Should Kentucky property division include fight for family home?
If a major reason a couple decides to divorce relates to their inability to agree, the dissolution process may prove contentious. Making decisions is a substantial part of divorce, and individuals will need to determine what terms best suit their circumstances when it comes to child custody, support, property division and other areas. In the event that parties cannot agree, the court will likely step in.
One particular piece of property that Kentucky residents may have a difficult time dividing is the family home. If both parties want to keep the home, the situation can be especially complex to sort out. When dealing with this type of scenario, individuals may want to explore their true reasoning for wanting to keep the home and whether those reasons will suit their financial situations.
If a person simply has an emotional attachment to the property, those emotions could potentially result in cloudy judgement. If not thoroughly thought through, an individual could end up with the home only to realize he or she cannot afford the mortgage on a single income. As a result, parties may wish to look at their finances, as well as other property involved in the divorce, and consider their most realistic options.
Of course, if a person has the ability to afford the home and truly wants to keep the property, he or she could take steps to prepare for property division proceedings in hopes of achieving the desired goal. Kentucky residents facing such scenarios may want to look into what other assets could possibly be used as bargaining chips and what considerations may go into the division outcomes. Enlisting the assistance of knowledgeable attorneys could allow individuals to better understand their options.
Source: The Huffington Post, “It’s Harder to Divorce the House Than the Spouse!“, Ashley Tate Cooper, July 17, 2017