My advice, if you can't work it out, you have exhausted all options, go ahead and take the hit in the short term. It will be much easier in the long run, especially with the children. Ideally you could move into a new place close to your son.
My parents stayed together for the kids. It made everything worse because they were terrible at acting like they loved each other. It made every situation awkward and created long lasting resentment from my siblings to my parents.
I talk to both my parents today. For I while I did not. My siblings each one of them has at least one parent they will not communicate with. Unless you and your wife are Oscar caliber actors, don't do it. It will be better for everybody.
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