Collaborating can help you divide your marital assets

Collaborating can help you divide your marital assets

| Apr 1, 2021 | Property Division

Dividing your property during your divorce can be one of the biggest challenges that you face. This is because it’s so easy for either party to decide that there are specific assets they want and will not negotiate over.

If you are in the midst of a property division conflict, now is a good time to reflect on what you can or cannot afford to negotiate on. Being willing to be flexible (within reason) may help you resolve any conflicts that occur and move forward with the divorce.

How can you make it easier to divide your assets during divorce?

To make it easier to divide your assets, the first thing to do is to identify which assets are marital assets and which are separate. Separate assets are not part of the property division process, so you may be able to protect some of your assets by showing that they aren’t shared.

After you do this, the next thing to do is to talk to your spouse about writing down the assets each of you would like. Doing this separately and then comparing your preferences may help you start the property division process more easily.

From that point, you can see which assets you don’t agree on. You and your spouse should discuss if there is a way to separate those assets in a way that feels fair to both of you. If you cannot decide on a resolution, then you may want to talk to your attorney about working with collaborative divorce or trying alternative means of dispute resolution.

Why is collaborative law a good way to handle property division disputes?

It is a good way to handle disputes because it gives you an opportunity to discuss your preferences, needs and wants with the caveat that you have to come to a resolution outside court. With collaborative law, you will need to find completely new attorneys if you decide to go to trial. This gives both you and your spouse a reason to negotiate, which can help keep the lines of communication open and prevent the risk of a costly trial.