Dads have Rights Too

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Is it always a good idea to fight for the house?

On Behalf of | Nov 2, 2018 | High-asset Divorce

Like other marital property, the home where an Omaha couple lived during their marriage will have to be divided as part of a Nebraska divorce or legal separation.

In the case of a couple who made a lot of money, this house can be a valuable asset worth hundreds of thousands or even millions of dollars. However, in a high-asset divorce, as in the case of all splits, is important for men to keep their heads about them when deciding how they want to handle the home that they may have worked very hard both to purchase and maintain.

However, men going through a divorce need to remember first of all that there are a number of things a court, or for the parties themselves, can decide to do about the family’s residence. In other words, it does not have to be an all or nothing proposition; in some cases, it may be best for both parties to find new homes and then sell the residence and split the proceeds.

Furthermore, one needs to think carefully about whether having the house really improves his financial situation. It profits a man very little if he gets the house, often by trading a lot of other property, but then discovers he cannot afford the mortgage payments. Even if the mortgage is not an issue, the house may also come with a high tax bill or may just be a property that requires a lot of maintenance.

No man should automatically assume that he needs to fight to keep the marital residence at all costs, as doing so can in the long term be a costly financial mistake. Instead, he should consider his options concerning the residence as well as other marital property with the help of an experienced family law attorney.