Should I retain my house?

When it comes to your home, you will likely confront three options: sell the house, buy out your spouse or have your spouse buy you out. The best solution for you will depend on both personal and financial considerations. You may simply not be comfortable remaining in your current home. On the other hand, staying may offer your children a sense of continuity. On the financial side, you should evaluate
the tax consequences of selling your interest in the house. Longer term – after the marriage is dissolved – you need to determine if you can manage the costs of the home, such as mortgage, taxes, utilities,
maintenance and general upkeep.

Rock A. Tate is a Financial Advisor, CERTIFIED FINANCIAL PLANNER™ at The Tate Group at Morgan Stanley Smith Barney.