Should You Request the Family Home in Your Divorce?
Dividing marital property is one of the most confusing aspects of a Florida divorce. Many people simply assume they want the family home, but that’s not always the right choice for a person, given where they are in life. Call Empowerment Legal, PLLC, to discuss your uncontested divorce. We can help you think through what assets to request as you prepare for the future.
Considerations for Requesting Marital Property
Florida is an equitable division state, which means couples divide their marital property fairly. That doesn’t always mean a 50/50 split, but if you are seeking an uncontested divorce, then you’ll probably divide everything as close to 50/50 as possible.
If you bought the home while married, it is probably entirely marital property. The situation is somewhat different if one spouse brought the house into the marriage. In that case, some of the equity is probably marital, especially if you paid down the mortgage while married.
Should you request the home as part of your divorce? The answer isn’t always an automatic “yes.” Here are some considerations to mull over when thinking about the assets to request:
- Do you want to continue to pay the mortgage after divorce? If you get the house, then you probably get the mortgage along with it. You might find that you cannot afford that much house on one income, in which case you will need to find less expensive housing and prepare to sell the home.
- Can you afford the property taxes and upkeep? A home has continuing costs associated with it, including annual property taxes, regular maintenance, yard work, and so on. By contrast, you might request other marital assets (like retirement accounts) which do not have these annual costs associated with them. These are important considerations as you budget for your new life as a single person.
- Do you want to move your children? Some people choose to ask for the marital home because they do not want to uproot the kids. You might like the schools or the neighborhood. Consider alternatives, including nearby homes, and whether you can afford them.
- Will you have to sell the home? Some couples have few assets apart from the house. They might need to sell it and divide the equity. You might have no choice but to move into an apartment if you cannot buy out your ex’s share of the home.
- What other assets do you have? Some people are more interested in taking a share of investment accounts or even cash in a bank.
Each divorce is unique. There is no right or wrong answer that works for everybody. Let our office review your finances and your goals after divorce. Some people are eager to move, while others have put down roots in Jacksonville and intend to stay.
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An uncontested divorce is usually faster than a contested case, but couples often need time to reach an agreement. We can help. Contact Empowerment Legal to speak with a Jacksonville divorce lawyer privately.
Source:
flsenate.gov/Laws/Statutes/2024/61.075