One of the most convoluted parts of getting a divorce is deciding how to split up the possessions. After years of mixing your finances and belongings, it can be extremely difficult to strike a fair compromise. Here is a quick look at some tips that you can use to help you simplify this process so you can move on with your life.
Start With a Positive Attitude
Even though the divorce rate has gone down, thousands of couples must undergo this difficult legal situation every year. You are no doubt feeling a wide range of emotions, but staying as positive and amicable as possible while separating your assets could save you from an expensive legal battle at a later time.
Make a Complete List of Your Assets
Before you are able to separate your assets, you must first make a comprehensive list of both party’s possessions. Many couples make the mistake of only listing items they believe to be mutual assets, but this working list should contain everything of value owned by either party.
Appraise Your Property
If you have been in your marriage for a lengthy period of time, then some of your larger assets might have changed in value. This is especially common with vehicles, homes, jewelry, and electronics. Unless you both agree to a specific value on these items, you should have an inspector or specialist give you a written appraisal.
Once you have a working list of your property and agreed on a price for the larger assets, then you can begin the process of deciding who is entitled to each item. Many smaller possessions can easily be split between two parties, but a pet might not be so easy. As a general rule, the party who can provide a better home and give the pet more attention should receive the animal. Not only that, but you should definitely take into consideration who the dog, cat or whatever animal you have is the most bonded to.
Know When to Ask for Help
When you have hit a roadblock, you need to know when you must step back and ask for professional legal help. Separating your assets is a very difficult part of a divorce and could be overwhelming for you too. Legal representatives, such as those at Ramsden Lawyers, know how to help you come up with a fair solution. An attorney can also ensure that the separation of assets is legal and recognized by the state.
Your final option is to use a neutral party to auction off your mutual belongings. This often takes the emotion out of the equation with both parties knowing they will receive a fair amount for their property.