Seeking legal separation from your spouse is itself a difficult task, but the division of the family’s property makes it even more emotionally draining. When it comes to divorce, dividing the marital property is one of the ugliest things to get involved. The process becomes all the more complicated when you have a significant amount of property such as houses, pension plans, brokerage accounts, stock options, etc. In such a situation, you may not be in a mentally stable to decide who should get what. In this case, you may have to seek professional help from a lawyer to help you out.
How to divide assets in a divorce?
The best thing to do is to settle the matter peacefully with your partner. If both the partners arrive at an agreement, the chances of getting into an unpleasant situation are reduced.
1. In case of a divorce, the court divides the marital property between the spouses. This means that each of the partners will get one half of the total property. However, that doesn’t mean that each of the items will be cut into two halves. For example, if the wife gets the car, the husband will be given the furniture.
2. There are chances that the court may give more property to one spouse. This is mainly true in the case of women especially when the ones who are not working. The court needs to have a good reason to unequally divide the property. Some of the main reasons include:
• When the contribution of a spouse towards the property is more than the other.
• In case, the spouse has got the property as inheritance or before marriage.
• Even the financial condition of each of the partners are taken into account before passing out such a decision.
• The court also considers the conduct of each of the spouse related to the property.
• The decision is also taken based on the earning ability of each of the spouses.
To get a good idea, you can take the help of a lawyer who can help you understand your options. A lawyer is someone who is trained in the field, and thus, he has more knowledge than you in the related matter. Once you get to know your options, it will be easier for you to get yourself organized before the court passes its judgment.
Spouses have two choices;they can either work it out among themselves or let the court decide. If you can settle the matter like civilized people, good for you, or else you should leave the matter to the court. There is no way that you can influence the decision of the court.