The longer a marriage, the more likely the couple has accumulated a significant amount of joint assets. In such situations, divorce may bring a whole new set of financial troubles. That's why some Ohio spouses may benefit from taking a moment to consider how untying the knot will affect them financially.
Keeping the house is a common request during divorce negotiations. However, doing so could result in a budget squeeze if a spouse is trying to fully maintain a house on half as much income. Efforts to keep up with house-related expenses may also lead to taking out loans or risking losing a home to bankruptcy. Selling a jointly owned home can be financially risky as well if a couple is forced to accept a low offer because of an urgency to move on. If a couple decides to wait until they get a better deal, holding onto the home may mean juggling expenses for two houses.