Law Office of Joanne Kleiner

divorce lawyer

Oct 18

How to Split the Family Home in a Divorce Without Going to Court

Ways to Fairly Divide Your Home With Your Ex

Since a home is most people’s largest asset, it’s no surprise that property disputes are one of the biggest reasons for fights during divorce proceedings. If you are not interested in a court battle, it is a good idea to be flexible and talk about your options. Here are some ideas for how you and your estranged spouse can fairly divide your family home.

Exchanging the House for Other Assets

The first thing to recognize is that it’s not technically necessary to split the house. During a divorce, you are splitting all the assets you and your partner contributed to. So if one person really loves the house and the other person doesn’t care at all, it may be worthwhile to just let that person have the house. To keep asset division fair, your divorce lawyer might suggest that the other spouse gets things like a bigger portion of a retirement fund, more of the joint savings account, or possession of other property. This solution works best in cases where couples have a lot of assets, so a house is just one of the many things to negotiate. It may not be possible if all your funds are tied up in the value of your home.

One Partner Buying Out the Other’s Share

This option is popular in a divorce where you want to split all assets down the middle, but one partner wants the house more than the other does. On the surface, it’s a simple thing that involves one person giving away some of their personal funds, while the other person gets full control of the house. The tricky part is determining the value of the house. Some people may want to get half of the full market value of the house. Others may be fine just getting half of the original cost of the house or half of what they both paid into the house over the years. When negotiating this, it may be necessary for the seller to decide whether their goal is maximum profit or just recouping a little costs and escaping the responsibilities of home ownership.

Continuing to Co-Own the House

Sometimes, either partner selling their share just doesn’t work. Often, people want to wait to sell until market conditions improve or until their kids move out of the home. Keeping your finances entangled can be a little tricky. It’s a good idea to get help from a divorce mediation practitioner who can assist you with navigating all the emotions and financial disagreements involved in co-owning a house after divorce. You will need to be able to handle things like splitting the cost of repairs and agreeing on who gets to spend time in the house. Keep in mind that you will each technically be responsible for the full cost of the mortgage, so it can make it hard to get credit for things like car purchases.

Selling the House and Splitting the Profits

Selling the house, subtracting all costs, and then dividing the profits into two equal shares is a fairly simple way of dealing with the conflict. Though actually preparing the house and selling it takes time, this agreement reduces arguments and gives each person money to start their new life. This is actually the solution the courts usually recommend if the two spouses cannot agree on who gets the house. However, going through the court takes extra time, and then you would have a rushed sale that might not net the highest cost. Therefore, agreeing to this solution can give you a little more time to find a favorable sale.

As you can see, there are a lot of creative solutions to the question of who gets the house. Having a divorce lawyer who can help you negotiate a clear and satisfying agreement can take a lot of the stress out of dividing assets in a divorce. The Law Office of Joanne Kleiner is here to assist people living in Montgomery, Bucks, and Philadelphia counties with their divorces. Call 215-886-1266 or fill out our contact form to learn more about how we might be able to help you.

Jan 10, 2018

Nesting Divorce Plans: What You Need to Know

Nesting Plan | Divorce Lawyer

Now more than ever couples considering divorce want options. There are many different variations of how people choose to get divorced and how they structure their life after the fact.

What is Nesting?

One recent development that more families are considering is called a nesting plan and it could help you and your former spouse chart out an appropriate way to parent. However, nesting plans are not right for everyone. Read on to learn more about how these plans work and how you can identify whether or not it’s the right fit for you.

For the vast majority of people going through a divorce, keeping the children in the family home is the main priority and this is for a good reason. The marital residence might be the only home ever known by the children and with so much change on the rise, stability may be the only thing you and your former spouse can agree on.

As parents go through a divorce, they may feel that the children should be kept in the home because it will help with stability and comfort during a time of major transition.

A nesting plan means that both parents take a turn living in the primary home while the children stay there all the time. There are a number of different issues you need to consider before deciding if this is the right choice for you, and the help of your family lawyer cannot be understated.

How Do I Know Whether Nesting is the Right Fit for Us?

Your Montgomery County Pennsylvania family attorney may be able to recommend whether or not nesting makes sense in your case. A nesting plan refers to co-parenting in which both children keep the marital family home. The parents then might also rent additional space for the two of them to share or their own one-bedroom apartment after their divorce and it’s not their parenting time.

The parent will live in the marital home and the other parent lives in the rented space until the parenting time switches; however, this might initially seem simple but if you and the spouse are rotating in and out of your previous marital home, you will still need a parenting plan. A bird nesting plan is not a substitute for a time-sharing agreement or a parenting plan.

Pros and Cons of Nesting Plans

There are benefits and disadvantages to the nesting plan. It could reduce your potential post-marital housing costs to have a small apartment while keeping the family home that you may already own. This is usually the biggest expense that each person will incur after a divorce.

There are also costs of having a second location, however. Emotionally, your primary concern is probably about the well-being of your children, however, it can be challenging for children to adjust to these this new situation.

Furthermore, you might find it difficult to go back and forth especially if you and the other spouse are not able to get along well or if you have disagreements about appropriate parenting style. Many different issues can emerge in the bird nesting agreement and if you do not have a system in place with the other spouse to discuss how these issues will be addressed, you could put yourself at risk for constant arguments and problems with the other spouse. Bird nesting maybe something to consider in the short-term but you need to see how it might work for your family. If you’re unable to come to terms of agreement with your former spouse on anything else, it is unlikely that a bird nesting plan would be most appropriate for you.

CONTACT US

At the Law Office of Joanne E. Kleiner, we have more than 25 years of family law experience. We’ll help you stay focused on what matters. To schedule an appointment with an experienced Pennsylvania divorce attorney, contact our office online or call us at 215-886-1266.

Dec 29, 2017

Is January a Good Time to Consider Filing for Divorce in Pennsylvania?

It is never an easy decision to come to terms with the fact that you may want to file for divorce, although the decision that you make immediately after that one such as selecting the date that you will actually move forward with the divorce petition is one that mandates more strategic considerations. Your filing date for divorce impacts many different financial aspects of the final divorce settlement because it is the formal beginning of the legal process for divorce.

The right lawyer can walk you through each stage of your case so that you know whether or not now is right for you. Divorce is so personal that it helps to have someone who cares about your best interests.

Your date of filing might also impact your children and you psychologically. There is no one right answer to when is the right time to file for divorce in Pennsylvania, however, for people who have opted already to divorce over the holiday season or in the fall, the answer for them is often January. There are numerous different reasons why January comes out on top as one of the most popular months for people to initiate a divorce petition. First of all, the holidays are finished in January.

Parents may help children cope and adjust to the transition of divorce by keeping as much stability as possible during the holiday season. It can represent significant challenges and emotional problems for children who are in the midst of a sudden divorce with their parents during the holidays. The holidays are usually a busy time for families with children and this makes it all the more important and also challenging to maintain the necessary stable environment.

If you and your spouse have not yet separated asking for your kids to suddenly deal with you in separate houses during the holidays can be stressful and confusing. This can also lead to questions about who will see the children when. If it is possible for you to stay under one roof peacefully during this time, you may do so for your children’s sake.

Another reason that many people consider filing for divorce in Pennsylvania in January is because the year-end bonus may be in the bank. If you or your spouse gets a bonus from your employer every December, filing for divorce in January clarifies that all income over the previous year, such as year-end work bonuses, is classified as marital property. Other common reasons for people to consider waiting for January has to do with planning for the new tax year and New Year’s resolutions.

The fresh perspective on the change of the year could cause you to finally make the decision to initiate a divorce petition after consulting with an experienced divorce attorney. The perspective of new year’s resolutions may lead you to reflect back on your life and think about whether or not the marriage is capable of being salvaged. With numerous different tax implications involved in a divorce, finishing out the year before rearranging the finances between two different households is often a practical decision.

No matter when you decide to move forward with a divorce, scheduling a consultation with an experienced Pennsylvania divorce lawyer is strongly recommended to give you a clear understanding of what is required of you as well as any necessary steps you should take to protect yourself as you move forward in the legal system. There are many different details to keep track of but you can increase your likelihood of success by working directly with a lawyer who can advise you about all of the things you need to consider before initiating your divorce petition.

CONTACT US

At the Law Office of Joanne E. Kleiner, we have more than 25 years of family law experience. We’ll help you stay focused on what matters. To schedule an appointment with an experienced Pennsylvania divorce attorney, contact our office online or call us at 215-886-1266.