Gavel breaking a fake house

Preparing to Divide Your Assets in a Divorce

Nobody enters into marriage with a divorce in mind; however, divorce is just as much a part of society as marriage itself. There are many complicated issues that people need to think about when going through a divorce, one of which is the division of assets. While some people may think that assets are simply divided down the middle during divorce proceedings, this isn’t always the case. What are some of the important points to keep in mind?
Make a List: Prior to Marriage
One of the first places to start is to make a list. First, start with the assets that were acquired prior to the marriage. This means any income, jewelry, clothing, and anything else of value. These are assets that someone entered into marriage with and, therefore, may not be considered divisible during the process of a divorce. Failing to make a list of these assets could lead to improper division during the divorce proceedings. Just as property is considered an asset, so is debt. Someone who enters into marriage with debt should expect to retain all of this on the other side of a divorce.
Assets Acquired During Marriage
Also, make a list of assets that were acquired once the marriage was finalized. Most likely, these are the assets that will be divided in the divorce. This doesn’t just mean money; anything of value should be tallied. Some things, such as a house, may not be able to be cut in half. During the divorce process, matters such as these will be considered and the goal will be to divide everything as evenly as possible.
Keep an Open Mind
The most important thing that people should remember is to keep an open mind. There are many ways to divide assets and debt, all of which should be considered. Anyone with questions should contact an experienced divorce attorney at the office of Blood Law in Union County, NC for more information.
Categories