Going through a divorce is never easy. Between custody battles, expensive fees, and splitting up valuable assets, you will have a lot to deal with if you decide to file for a divorce. The division of property might be particularly confusing if you are not sure what you or your spouse is entitled to. If you are not sure what assets you are entitled to or how to get these assets, do not panic. You can always discuss these problems with your lawyer, who can hopefully put your mind at ease.
There are several tips and steps that you should consider following if you are dividing your personal property in a divorce. This will make the process easier in the long run and help you to keep the assets that are most important to you.
As soon as you or your spouse files for divorce, you should immediately make an inventory of your personal property and household items. List all of your property and take the time to think about what property is most important to you. Put these items at the top of the list, and make them the priority to keep. Keep in mind that your spouse is probably making the same kind of list, so be proactive about what you want to keep and how you can get it. After this is done, you should discuss the property division with your spouse. The more you can agree on outside of court, the more money you will save on lawyer fees and court fees. You and your spouse should divide inconsequential property because the cost of replacement might exceed the bill for help from lawyers or other professionals who help you negotiate such items.
Deciding Who Gets What?
Property divisions based on real needs as opposed to simply desires will hold up better in court. Try to find a legitimate reason for why you need to keep important items. Legitimate evidence will help a judge rule in your favor. Courts generally will not overturn mutually agreed upon property splits, particularly if they were made to benefit children from the relationship. Gifts given to one spouse by the other belong to the recipient.
Property division can be confusing and difficult, but it does not have to be. If possible, try to sit down with your spouse and discuss the division of assets. If you are both willing to compromise, the process will be much smoother. If you have a legitimate, practical reason to keep certain property, you can present your case to a judge who may rule in your favor. Keep in mind that compromises must be made, but you can still keep many of your important possessions in a divorce.
Are you currently contemplating a divorce or going through one? If you would like to discuss your situation with an experienced and knowledgeable lawyer, please contact our office today.