You don't expect to have to divide your assets eventually with the person you chose to marry. Divorce isn't something you see coming. It's tough and can catch you by surprise. That being said, you CAN get through it. Our divorce lawyers at the Lake of the Ozarks are here to give you 3 tips on how to divide marital property, in this week's blog. If you have questions regarding divorce, please call Gibbons Law Firm today for your free consultation. Call (573) 348-2211.
3 Tips On How To Divide Marital Property
1. DO YOUR BEST TO COME TO AN AGREEMENT ON YOUR OWN.
If you and your spouse are not able to come to an agreement, the only alternative is to allow the Court to decide. The Court will divide your marital assets in an equitable (but not necessarily equal) manner. When determining how to divide the assets, the Court will consider a variety of different factors including both spouses' current income, both spouses' earning potential, and how each spouse handled their finances during the marriage. Based on these (and other) factors, the Court will determine an arrangement that will meet each spouse's needs in a way that is fair and equitable.
2. BE MINDFUL AND TREAT THIS LIKE A BUSINESS MEETING.
Your emotions are clearly running high. So take your emotions out of the equation and treat this like a business meeting. Be professional and fair. Generally, couples who are facing divorce have two primary options for dividing their property. They can either reach an agreement on their own, or they can let the Court decide. If you can reach a decision on your own, then this process can become much easier and shorter.
3. CREATE A PLAN THAT MEETS BOTH YOUR NEEDS.
If you and your spouse are able to be amicable and cooperative, designating your own plan for dividing assets may be an ideal solution. This is generally the most desirable option since it allows both you and your spouse to have complete control over the division of your property. You can work together to devise an agreement that will accommodate both of your needs.
Need Expert Legal Guidance To Get Through Your Divorce?
Divorce is an emotional time. As human beings, we don't always think clearly when our emotions are running high. You can really benefit from some expert advice from someone who can be legal guide throughout this tough time. That's us. Gibbons Law Firm has the expertise to get you through this. Give us a call at the phone number listed below for your free consultation today.
Remember, your initial consultation with Gibbons Law Firm is always free.