Money and DivorceGreer, SC- Aside from child custody, the fate of a divorcing couple’s home is one of the major issues they must deal with either in mediation or divorce court. A marital home, besides often being the most valuable possession and couple owns, has a great deal of sentimental value. In the event of their split, a couple needs to know who should stay in the home and how their home will be divided.

Usually one spouse will decide to move out once a couple knows they are headed for divorce. Divorce law firms generally suggest that if a South Carolina couple separates, they do it completely. That means one spouse needs to leave the home and live apart from their spouse for Not making a complete break could delay your divorcing filing and make it impossible to negotiate with one another when it comes down to child custody and asset division.

Some divorcing parties are reluctant to leave the marital home because they think doing so will impact how the home and other property is divided in the final divorce settlement.  That isn’t the case. The biggest drawback of leaving the marital home is the additional financial burden caused by maintaining a second household. But as far as how it is divided in the end, one party can move out without fear of is affecting who the home is awarded to.

Under South Carolina law, marital property, which includes any home the couple owns that was not part of an inheritance, is divided equally between both spouses. When one spouse is awarded the marital home, they may have to give their former spouse an equal share of the home’s value. Or, they may have to accept a smaller settlement.

Most states have “no-fault” divorce laws and require “equitable distribution” of marital property and assets to be divided evenly between both spouses. If one spouse gets to keep the home in divorce, they will likely have to give their ex an equal share of the marital home value or divide property to make up the difference.

Leaving the marital home can be somewhat of a disadvantage when it comes to child custody. Frequent upheavals in a child’s living arrangements can be very difficult on children so they parent who remains in the marital home will most likely keep custody of their children until custody arrangements are finalized.

It is rare, but the issue of “abandonment” can come up in regards to child custody, especially if divorcing spouses fail to come up with a parenting agreement before one leaves marital. This agreement should be done in writing and should cover a visitation parenting schedule. It should also be clear that the parent moving out won’t be giving up any of their parental rights. A South Carolina divorce law firm can help you draft one of these agreements.

The wise thing to do is speak with a divorce attorney in Greer or other location near you before you take any action like moving from the marital home. They will explain the process and help you make decisions that won’t negatively impact your final divorce settlement. Allow USAttorneys connect you with a divorce lawyer in your area so you can make the process of divorce a little less painful.