Some divorcing couples basically go to war over their marital home. Both of them draw a line in the sand and demand that they should get to keep the house. They will likely spend a significant portion of their time in court arguing about the home, forcing a judge to ultimately decide who gets to retain possession of it. 

Given that you have invested so much of your income and effort into your house, it is perfectly natural for you to want to protect your investment if you divorce. However, you can receive your share of the home’s value without actually keeping the house itself.

Is trying to stay in the home the best decision for you and the divorce?

Can you afford the mortgage on your own? 

Perhaps the most important question to ask when setting your property division priorities in a high-asset Kentucky divorce is what you can afford to maintain the home. Many couples finance homes that neither could purchase on their own. 

If your income isn’t high enough to qualify for your mortgage right now, then you will have a very hard time qualifying to refinance the property and retain it after the divorce. After all, your spouse will receive some of the equity, meaning you’ll have to take cash out when you refinance. A bigger balance because of that diminished equity will mean higher payments on your mortgage every month. 

Asking for your share of equity and using it as a nest egg for a home more appropriately sized for your current needs might be a better option if you don’t need to stay in the same neighborhood for other reasons. Careful planning can help you make good decisions when getting ready for a high-asset divorce.