Divorce 101: 4 Key Tips for Property Division


Filing for a divorce is choice that comes with many emotional and financial side effects. This includes one of the most complicated processes that occurs during a divorce case which is property division. While property division may seem like a daunting task, it is vital to have a plan for how you and your spouse will divide up your assets. To ensure that you receive the items you are entitled to, you should work with an experienced divorce and property division attorney in Carlsbad. To help make the property division process as simple and stress-free as possible, it is important to remember these key tips.

Plan to negotiate: One of the main things to remember during the property division process is that you must be willing to negotiate with your spouse. More than likely, there will be items that you each want that can’t simply be split down the middle. You will need to reach an agreement about who gets certain items or if items should be sold and the money from the sale divided evenly. This can apply to assets such as a house or car.

Keep valuable items secure: If there is any animosity between you and your spouse, you may be worried about them taking valuable items without consulting with you first. When you have sentimental and/or expensive items that you need to protect, it is in your best interest to get a court order to keep these items under lock and key until a settlement is reached.

Determine which assets are personal property: A key to simplified property division is determining which items are your personal property, and therefore, inaccessible to your spouse. Items that are classified as personal property include family heirlooms from your side of the family, items that you owned prior to getting married, and gifts given to you by your friends and family.

Have valuable items appraised: When there are items that both you and your spouse have an interest in, it is important to get these items appraised so that you both know how much each item is worth. By establishing the value, you can devise a plan to equally split items or sell them, so that each person gets his/her fair share.

To reach a successful outcome in your divorce and property division case, you should hire a qualified attorney from McKinnon Law Firm to represent your interests. Contact our team today to schedule a free consultation.

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