Cindy Allen & Associates PLLC

Phone: 405-310-8673

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Keeping the home versus selling it after a divorce

Oklahoma couples who are considering a divorce may be trying to determine whether they should keep or sell the family home. However, there a couple of considerations that they may want to look at before making a decision, as it can have an impact on the person's financial future.

First off, someone who is considering keeping the family home should contact a family law attorney who can help them work out what is best for their situation. If the home is large and all of the kids have grown up and left, it may be too expensive to heat and maintain. In this case, selling off the home and getting the money may be a better option than keeping it. If the house is smaller and is fully paid off, it may be worth keeping it.

When a former spouse first meets with their attorney, the attorney will not only help the person determine whether it would be better to keep the home or sell the home, but they may also determine if the person has any debt. The person may also wish to talk to a financial adviser to help plan for retirement, especially if the person did not work much during the marriage.

Divorce can be a very difficult process for many former couples especially if they have to deal with property division. An attorney may help a person determine the value of all of their assets, which may include real estate, personal items and financial assets. The attorney may assist with looking for hidden assets if there is any indication that the other party is not being truthful. They may also help the person negotiate with the other party if they want to keep the family home or any other marital assets.

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