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Should I Keep the House?

Whether or not to keep the house may be one of the greatest decisions you need to make during your divorce. Think of it this way, that house was purchased under different circumstances:  for two adults and now there will be one; with greater household income and now there will be less; when you had someone helping with the upkeep and now you will need to pay for more services. It usually does not make good financial sense to keep that house. Your new financial situation will indicate new appropriate housing.

For those who seem willing to jeopardize their future financial stability for the sake of keeping the children in the same house, neighborhood and schools, I would point out that it is not in your children's best interest to have you in financial peril and with all of the stress that comes with it. Further, if things were different, the marriage was in tact, life was wonderful, and you had the opportunity to move to a bigger, nicer, newer home, you wouldn't hesitate to move those kids to a new home, new neighborhood and new school. And you would feel realy good about it. So, re-examine this more objectively and make the decision that is in your, and your family's, best all-around financial interest. 

If the decision to move to new and different housing seems difficult, work through it with your therapist. I also encourage you to have the children speak with a child specialist to discuss all the changes to which they must adapt. Divorce is difficult, but doable, and there is a future to look forward to. You may soon find yourself grateful for the new surroundings and living environment as key to your new life post-divorce.

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Preparing for Divorce

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Your Financial Advisor's Role in Your Divorce

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