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Property division tips for divorce

by | Sep 29, 2021 | Divorce

There are many different issues that a spouse needs to overcome during a divorce. Child custody agreements and support/alimony negotiations can be challenging, but property division is notorious for being a major problem for spouses to work through. There is a lot that spouses need to know about property division, including how to prepare for negotiations. Here are a few tips you can use to benefit your property division process:

Value your assets

Before you begin negotiations over the house, car or boat, make sure you know what they are worth. The price you paid when you bought it may not accurately reflect its current value. Make sure to properly appraise your assets so you can negotiate over accurate figures.   This includes your home, pensions or other assets which sometimes are difficult to value.  An experienced divorce attorney will know how to handle these types of issues.

Have a goal in mind

Before you enter negotiations over your assets, have a few specific goals in mind of what you want to keep in your divorce. These goals can help you keep focused on the task at hand rather than get swept away in heated arguments in the negotiations.

Remain flexible

While having goals in mind is good, do not cling too tightly to them. If you are adamant about keeping your motorcycle, you may find yourself giving up more than you should during negotiations.

Avoid hiding assets

Hiding specific assets from negotiations may seem like the best way to protect your assets, but it may wind up costing you more than you were trying to save. Lawyers know how to look for hidden assets and will likely find any wealth you were trying to hide from the division process.

Let an attorney help you

Even if you and your spouse are attempting to have a non-conflict divorce, make sure you have an attorney assist you in your divorce process. An attorney’s guidance can also help you prepare yourself for property division and develop a strategy that protects your best interests.

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