There are many different decisions that can come before a divorcing couple when it comes to division of property. These decisions can sometimes give rise to contentious disputes, as they not only can touch on financial issues, but also emotional ones.
Take, for instance, a divorcing couple’s marital home. A major decision that generally needs to be made during a divorce in relation to this asset is whether the house will be sold with the proceeds then being divided between the parties or if it will be kept and given to one or both of the parties.
This decision can be an incredibly complex one, given the emotional attachments a person can have to a marital home and the difficulties that can sometimes arise when it comes to trying to sell a home at value. One of our articles, “The Real Estate Divorce Dilemma: What to Do With a House When You Split,” contains a more detailed overview of the important issues to consider when it comes to the marital home in a divorce.
Of course, the marital home is not the only type of asset that the “to sell or not to sell” decision can arise in relation to during a divorce-related property division. It can come up in relation to cars, furniture, home electronics, collectibles and a wide variety of other types of personal property. Issues that can influence “to sell or not to sell” decisions when it comes to such property include: the property’s monetary value, its liquidity and whether either of the divorcing parties has any special connection to the property.
Experienced divorce attorneys understand that “to sell or not to sell” decisions and other property division decisions in divorces can have implications beyond just the financial for divorcing individuals. Such attorneys can inform divorcing individuals of what the potential consequences of different decisions could be and can help such individuals approach such decisions in a way that keeps their overall goals in the forefront.