When you decide to proceed with the divorce process, you are well aware that this will change your life in many ways. This includes dividing property that was previously owned by both parties.
Like most, you will fight to receive as much property as possible. At the same time, your soon-to-be ex-spouse will feel the same way.
Before things get too far ahead of you, it is important to learn more about property division. This includes the way the process will unfold and what types of challenges to expect along the way.
Here are some of the many questions you will be faced with:
— What happens to the family home?
— How are vehicles, including cars and boats, approached during the division of property?
— Do I have to split an inheritance I received while married?
— Are there any ways to find out about hidden assets?
— How are retirement accounts and pensions divided fairly?
— How are insurance policies impacted by a divorce?
By answering these questions, you can put many of your concerns to rest. There will always be challenges that come up along the way, but knowing what to expect is half the battle.
When a couple decides to divorce, their legal partnership will soon be dissolved. At some point, questions of property division will be raised. It is important for both parties to feel that they are being treated fairly. Be honest and open along the way, while still taking steps to ensure that you are getting what you deserve in terms of marital property.
Source: FindLaw, “Divorce and Property,” accessed April. 02, 2015