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12 - What to Do with the Marital Home
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Shari tackles the challenging decision of what to do with the marital home after a divorce. She begins by addressing the emotional significance of the home, acknowledging that it's more than just a building—it's a place filled with cherished memories and milestones. However, she emphasizes the importance of considering whether staying in the home aligns with one's future goals or if it's just a means of avoiding change. Letting go of the home doesn't have to mean losing those memories; instead, it can be a step toward embracing new opportunities.
She also covers the financial implications of keeping the marital home, emphasizing the need to evaluate whether one can afford it on a single income, including all associated costs like taxes and repairs. She outlines three primary options: selling the home and splitting the proceeds, one party buying out the other, or temporarily co-owning the home. Additionally, she advises listeners to be aware of legal and tax considerations, such as understanding the difference between the mortgage and the title and exploring tax benefits like capital gains exclusions. Shari concludes with encouragement, reminding listeners that a new chapter can bring joy and freedom, urging them to make decisions that support their future selves.
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