Financially you cannot afford to have 2 residences, but you both agree the marriage is over. What do you do?
When I traveled to Russia in 1973, before the Berlin Wall came down and Communism was at its peak our guide told us about divorce in Russia. At that time there was a housing shortage in Moscow and St. Petersburg. When you got married the couple was given a combined living space—often not more than 600-700 square feet. Oftentimes that couple was on a waiting list to even find an apartment so they lived with their families until space was available. So what happened when there was a divorce? Now this couple had 600 square feet between them—they put sheets up in the apartment, shared the space, got divorced and continued to co-habit. They got on a waiting list for a 300 square foot space for each of them or tried to find a new roommate. Nothing happened quickly in Russia back in the 70’s for the common person. Lines, lists and patience were needed if you were not in the governing class.
I have observed these last few months more people resorting to a shared living space—living separately within the house, sharing the child rearing expenses, dividing up the physical space in the home to allow for cohabitation without the marital commitment. It can work, it does work, because the alternative choices don’t work.
Divorce is about money. In these recessionary times, working class couples are finding their own solutions with less reliance on the professionals. Extended families and friends are providing help. In the middle and upper classes the traditional divorce remains more common. In the high-end divorces, many spouses are eager to get the divorce over while the asset values are less and the required amount of maintenance is lower because of the economic times.
Get advice about the financial aspects of your divorce before starting the legal process of dissolution. Have a plan!