When the topic of divorce comes up in your marriage you will either be ready for it or completely taken by surprise. Whatever your situation, you need to begin to prepare for what’s to come. This includes dividing the marital property. Here are some tips for dividing the most difficult assets of a marriage so you know what to expect.
The best way to make the division of property easiest for all involved is to mount a good defense. It all begins with the signing of a single document, the prenuptial or postnuptial agreement. Either one of these documents will clearly state who owns what piece of property or asset should your marriage end in divorce.
Many people decide to sell everything, especially the big assets, when getting divorced and then dividing the proceeds from the sale. This includes selling cars, the marital home, a boat or any other large ticket item. This is not always the best idea. Why? The implications tax-wise from selling such items might outweight the benefits or proceeds of the sale.
You will need to get your assets valued prior to going through a divorce. The values assigned to those assets might not actually be what the assets are worth. They could very well wind up being worth much more or much less than the valuation.
Dividing the property of a marriage is one of the most difficult parts of a divorce. It is the part of the process that typically leads to the couple going to court. It can be contentious to the point where verbal arguments break out often. Follow the tips provided today to make the situation easier for both sides.