When Michigan couples decide that it is time to get a divorce, determining what to do about the family home could be a difficult decision. If there are kids involved, the primary parent may wish to keep the home to make the transition easier for the children. In these cases, the person who wants to keep the family home may have to buy out the former spouse.
Divorcing couples in Michigan who own a home have several options for dividing it, but they should make sure to avoid some common mistakes as well. One error people make is fighting to keep the home only to find out they cannot afford it. Before deciding to take the home, a person should make a monthly budget that accounts for all expenses associated with it.
The future can be unpredictable. Michigan couples who want to get married or who are already married should consider making plans for possible situations that may occur in the future. For couples who are currently unmarried, this entails completing a prenuptial agreement. Couples who are already married should discuss a postnuptial agreement.