Property division is renowned as one of the most disputed matters in a divorce. But this is not always the case.
Some divorcing couples have divided their properties without battles or attending numerous court hearings, and this can also be your story. Provided you are familiar with Connecticut’s property division laws, you and your soon-to-be ex-spouse can distribute property amicably.
Below are four tips to employ.
List your assets
You and your spouse should list marital properties and compare them. If a property is on your list and not theirs, you should bring it up. They may have forgotten to include it. However, they may also be hiding assets from you. If you notice odd things in your spouse’s list and believe they are not honest, it may be time to consider other options.
Value each property
When you and your spouse are on the same page, you can hire a valuator to get the accurate value of each asset. This will guide you when making decisions once distribution starts. Besides the values, you should also learn about the tax implications of each.
Agree on who gets what
You need to agree on who gets what while maintaining fairness. It can be more manageable for each spouse to list the properties they want, and then have discussions from there. For instance, if both of you chose one property, each can explain why they need/deserve it in-depth. A neutral, reliable third party can help you at this stage.
Compromise is crucial in property division. Although you want to protect your interests, you should compromise in certain aspects to get a satisfactory outcome.
It’s possible to have a peaceful property division. Experienced legal guidance can help you achieve this.