Property Division In A Divorce
Most couples become very defensive when it comes to property division in a divorce. As if going through a divorce is not hard enough to deal with. But there are some simple things you can do to make the process smoother and prepare for life afterwards.
Make An Inventory
having a list of all of your assets will really help. This includes things like your home and other real property, vehicles, boats, furniture, jewelry, valuable collections and monetary accounts. This will help your attorney decide what was yours before the marriage, and what is considered a joint asset. Every asset needs to have a value as well, so assign one to each thing on the list. Make sure to also include things you were given as gifts or inheritance.
How Much Do You Owe?
Ah yes, splitting assets is not just about what you might own, but what debts you have as well. Courts will divide these debts based on which person is more able to pay them. Running your own credit report will help you determine what is marital debt and what is individual debt. You will also want to provide this to your attorney.
Compare Your Lists
Your spouse should also be making their own list. And once complete, you should compare the two. Make sure everything is on the table and search for any irregularities you might find. If something appears off, you may need to seek an appraisal.
Make A Budget
This is an often overlooked piece of advice but can help you go a long way. You are going to enter a new chapter of your life and knowing what you are and are not responsible for will help you have some peace of mind. Knowing these post divorce financial needs will give you the confidence you will need to move forward.
Contact A Sapulpa Divorce Attorney
Keri D. Palacios specializes in family law, divorce, custody, child support, division of assets and more. Call our offices today at 918-948-9270 or send us a message here. We want the opportunity to work for you in your divorce case.