Property division can be one of the more divisive parts of your divorce, and the more property you have, the more work you might need to put in on the details. While it might seem like a high-asset divorce would be easier because both parties would end up with enough to live on without much worry, that’s not always how it works out. In especially heated divorces, one person might be out to “punish” the other person by making a grab for as many of the assets as possible, which means you need to be prepared to protect yourself legally.
Even if your divorce is civil and you are ready to cooperate with each other regarding the division of assets, it’s not as simple as drawing a line down the middle of the balance sheets. You might be caught up in dual ownership of assets that are harder to divide, such as a home.
If you own a home or other property outright, then you need to decide whether one of you will keep it and how the other person will be compensated for that fact. You might also sell the property and split the proceeds. If a property is encumbered by a mortgage, though, you might have to consider other options.
Sometimes, it’s the small things that are harder to deal with. You might be able to agree to a plan on large items and cash balances, but who is going to get the family dog or where will the treasured piece of art you purchased together go? These are all valid questions that can lead to arguments and issues if you aren’t careful. Our firm works with you to divide your assets with an ex-spouse and protect your interest in any assets you have whether your attachment is sentimental or value based.