Although your family home is likely your primary financial investment, it is more than just that. The house that you and your spouse own equity in together is where you live and where your children make their home, which makes it a big deal outside of its financial value and which complicates the matter of dividing it in a divorce. If you have questions or concerns related to your home and divorce, you shouldn’t delay consulting with an experienced Illinois divorce attorney.
The most straightforward approach to dealing with your home during a divorce is selling it and dividing the return you see on it. This tactic, however, fails to take the housing market into careful consideration. Is it a good time to sell? While the post-pandemic retail market is booming, this works both ways. You’ll also need to purchase or rent a home for you and your children to live in, and – as mentioned – purchase prices are highly competitive. Finding balance in your decision related to your home is key.
When the court makes decisions related to children of divorce, it always places their best interests squarely in the forefront. One of the factors Illinois courts routinely consider in relation to children’s best interests is maintaining the status quo, which can include remaining in their family home. If one of you is interested in continuing to live in the family home with your children (perhaps in the capacity of the primary custodial parent), this may help sway the court’s decision regarding a parenting time schedule. In this instance, the parent who intends on keeping the family home will need to address the matter of the other’s financial interest in the asset.
If one of you does have your sights set on keeping the family home, there are options available that can help make this choice a possibility, including:
You can also combine any of these approaches into a path forward that works for you, your divorcing spouse, and your children – in your unique situation.
Your family home is a significant financial asset, but it is so much more than just that. Keeping your marital home post-divorce can provide your children with the stability they need to move forward with confidence, and the practiced Illinois divorce attorneys at SLG Family Law are here to help – whatever that entails. We have the legal skill, experience, and insight you are looking for, so please don’t put off contacting us for more information today.
Attorney Sara Nolan and Mackenzie were truly a God send in my life. They helped me navigate through the divorce process and were extremely knowledgeable. I am so glad I didn't have to go through this divorce process alone. If you are going through a divorce please reach out! You…
A big thank you to Mr. Maurer and his legal team! Not only was his office finally able to settle my divorce, they also saved me money!! From the bottom of my heart thank you for your care and professionalism! Your attention to detail & kindness helped me through a…
Christopher Maurer helped guide me through an emotionally challenging legal process...always answering my (many) questions with careful consideration and good humor. I believe my case resulted in the best possible outcome and I will be sure to contact him should I need counsel in the future.
Chris did a great job listening and educated me throughout the process. He always kept my child's best interest as the focus.
I highly recommend Christopher Maurer to anyone in need of an experienced attorney. Mr. Maurer quickly assessed my situation with a divorce matter. He set forth a direct, clear path to secure my legal entitlements. Mr. Maurer consistently kept me informed during the process. His impressive grasp of the law…
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