Rowe Law Offices, P.C.
Call us for a free initial consultation
610-816-0935 Local
866-232-1913 Toll Free

Options for where to live after a divorce

One of the decisions Pennsylvania couples may have to make during and after a divorce is where to live. If the couple owns a home, one person may keep it and continue living there, or they might sell it. Both might then go on to purchase or rent other homes.

A person who decides to remain in the home should understand what the expenses will be. This includes the mortgage, utilities, maintenance, major repairs, insurance and taxes. While people may decide to continue owning the home jointly, they should make sure they want to remain financially entangled with an ex-spouse.

The other options are to sell and buy or rent a new home. Buying a new home may also incur additional expenses including purchasing furniture and transaction costs. Renting a home for a few years could be a good choice because it prevents a person from having to make a major decision during the upheaval of divorce. It can also keep parents near a child's school without having to buy a new home in the area. When deciding where to live, people should consider the above factors as well as the convenience of the home to work and the home's size. They should also consider how it will affect their other financial goals.

In a high-asset divorce, a home may be only one of many assets that may need to be divided. For example, if one person owns a business, the other may be able to claim some of its value. Dividing certain kinds of retirement accounts may incur penalties and taxes without a document known as a qualified domestic relations order. Attorneys will take these and other factors into account when negotiating a settlement agreement.

No Comments

Leave a comment
Comment Information
Get in touch

How Can We Help You?

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Wyomissing Office
1200 Broadcasting Road
Suite 101
Wyomissing, PA 19610

Toll Free: 866-232-1913
Phone: 570-362-6837
Phone: 610-478-7725
Wyomissing Office Location

Lancaster Office
8 N. Queen Street
Suite 1102
Lancaster, PA 17602

Toll Free: 866-232-1913
Phone: 717-207-8375
Lancaster Office Location

610-816-0935 Berks County 717-345-3208 Lancaster County 570-362-6837 Schuylkill County 866-232-1913 Toll Free
610-478-8365 Fax
BBB Accredited Business Facebook