When going through a divorce, you might want to keep the home for the sake of your children. However, there are some cases where a family law attorney might advise against this, and trying to keep your home might actually be bad for you and your children.
Why You Might Want to Keep Your Home
Moving into a new home with your children can be difficult because your kids will be in a different environment and it doesn't matter what age your children are.
When you file for Chapter 7 bankruptcy, many of your assets will be liquidated to pay down your debts. Then, any debts that are left behind will be discharged. However, there are also some assets that will be exempt from liquidation. If you have been planning for your retirement, you might wonder how your bankruptcy will affect your retirement accounts and investments.
The Liquidation of Your Assets
A trustee is responsible for liquidating your assets.
If you get into a car accident, you have to come up with a gameplan that will help you to take care of yourself afterward. You might spend some time in the hospital or out of work. You will definitely need to get some work done on your car, or maybe even replace the car altogether. Getting medical care and the help of a car accident lawyer will help you out when you need to push forward after an auto wreck.
Divorce should be thought of not as a single act but a progression of acts that eventually lead to the final divorce petition. In the meantime, most divorcing couples have several important issues that won't wait for the final decree. You will need help during separation and the law is on your side. Ask your divorce lawyer about taking action to have temporary orders issued to help you deal with things that need to be addressed now rather than later.
In almost all cases of divorcing parents of minor-aged children, child support is an issue and will be a major part of the divorce decree. When all is said and done, one parent is ordered to pay a certain sum of money for the care of the child until age 18 or high school graduation (some provisions order that support be continued through the child's college years until they are about 23 or so, however).