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Whether to keep the marital home following divorce a big decision

At the start of the divorce process in Montana, being unsure about what to do is natural. An area that may especially spark questions is property division, which can easily cause fireworks between soon-to-be-exes. Specifically, determining what to do with the couple's marital house in divorce proceedings is critical.  

Making the decision to remain in the family home or to move on and downsize is both an emotional decision and a financial one. Staying in the property may seem appealing due to the many positive memories and feelings associated with it. The challenge with staying in the house, however, is that covering the costs of keeping up the home may be difficult with just one income once the final divorce decree is entered.

In addition to considering the economic challenges of remaining in the home, recognizing the emotional hurdles that may crop up may also be helpful. Since both spouses are tied to the house, it may be easier to move on from the marriage if one makes a fresh start at another location. In the end, simply selling the house and pocketing 50 percent of the equity just might be the best solution.

In addition to dealing with the marital home, the division of other assets also requires attention during the divorce process, including retirement accounts, savings and even real estate. If two spouses can find common ground, they may be able to make property division decisions at the negotiating table, rather than having to go to trial for a judge to make these decisions for them. An attorney can provide the necessary guidance for navigating this aspect of a divorce proceeding in Montana.

Source: huffingtonpost.com, "5 Questions Every Divorcing Person Should Ask Their Divorce Attorney", Vikki Ziegler, Oct. 4, 2017

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