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Separate versus community property: Home may spark conflict

| Feb 8, 2018 | High Asset Divorce |

One of the most difficult decisions to make when going through a divorce in Texas is what to do about the marital home. After all, the home is often the most valuable asset in a divorce as the parties sort through what is separate versus community property. In some cases, fighting to keep and stay in the home may make the most sense.

Deciding to leave or sell the family home during a divorce proceeding can be an emotional decision, particularly for those who have minor children. In addition, the process can be costly and time-consuming. This is one of the major benefits of staying in the home: being able to avoid moving costs. In addition, the spouse and children who stay in the home can keep this aspect of their lives stable at a time when so many other circumstances are changing as a result of the divorce.

Another perk of remaining in the family home is that the parent who stays can remain close to neighbors. Many times, neighbors are a valuable source of support in divorce scenarios. Of course, coming up with a list of all home maintenance costs and taxes is important, as these are all costs that the parent who stays in the home will likely have to assume.

Property division remains one of the biggest areas of conflict in divorce proceedings. Apart from the family home, the parties will have to designate which property is separate versus community, including any business interests and assets such as retirement funds. An attorney can provide the guidance needed to navigate the property division process in Texas.

Source: wtop.com, “Deciding where to live during and after a divorce“, Dawn Doebler, Feb. 6, 2018