There is no doubt that a divorce will involve a variety of challenges, such as those associated with child support and custody. However, it's the division or marital property that is often the most important detail.
In a perfect world, you would be able to work closely with your former spouse to fairly divide all marital property. While some are able to do this through mediation, others are not willing to budge an inch.
Here are some of the many things that come into play during the division of marital property:
- Real estate, such as the primary family home
- Vehicles, including cars and boats
- Family owned businesses
- Retirement savings
- Stocks, bonds, and other types of investments
- Bank accounts
- Home furnishings
In addition to the division of marital property, don't overlook one last detail: marital debt. From mortgages to car loans to personal loans, debt is just as important as assets during the divorce process.
We work closely with people who are finding it difficult to reach an agreement on property division during divorce. Every couple faces unique challenges, so there is no way of knowing what the future holds. You simply need to be prepared for anything that could come your way.
If you know you will be going through a divorce, get ready for the process of hashing out the division of marital property. You may get caught up along the way, but as long as you take the right steps and stay on track you'll eventually reach a resolution that allows you to move on with the rest of your life.