A family home is often the most valuable asset divorcing couples have. It is imperative that you deal with it in the right way so that each of you, including the children, have a home.
Depending on the circumstances, there are various options that you can consider:
- Sale of property
- Transfer of the property to one party
- Sale at a future date
- Buy out your Spouse’s share
Unfortunately, there is no simple and clear-cut answer; there is no such thing as a ‘standard split’ of assets such as the family home. What you decide to do with the family home will simply depend on your own circumstances.
We will give you practical solutions to these types of problems. We will consider the financial and family circumstances, and suggest the options that are workable for you so that you can come to your own decisions. It is far better to come to an agreement between yourselves about the division of assets otherwise you will have to apply to the courts to decide for you.
If you are deciding what to do with your family home as part of your financial settlement, get in touch with us. You could avoid court proceedings and save thousands.