If you are going through a divorce, you will eventually reach the important task of property division. This is a key component of going separate ways and deciding who will take what. Property division doesn't have to be complicated if you can work through division discussions in a calm and organized manner.

This job varies depending on the type of divorce you are pursuing. If you are involved in a contested divorce, the court will play a large part in splitting your assets. A contested divorce is defined as a split in which one party does not want to discuss any of the terms of the divorce. In many contested divorces, one party is heavily opposed to ending the marriage. When this is an issue, the court will divide up the couple's assets, often causing dissatisfaction for both parties. The courts have two main methods of dividing settlements.

Some states operate with "equal distribution." This means that all possessions acquired during the marriage and prior to it will be divided between both partners. Unfortunately, "equal" distribution does not always result in equality. One partner may claim the bulk of another's earnings in certain cases. The court will determine who gets what depending on the domestic and financial contributions brought from both parties to the marriage. Not only does equal distribution determine what person gets what property, but what person gets what debt burdens. This may mean that one partner takes on debt that was originally attributed to the other in some cases.

Another way that the court can divide assets is by "community property." In states that practice this method, each party usually keeps anything he or she acquired prior to the marriage. Each person must show proof that his or her property was obtained before marriage in order to retain it. Complications arise when the other party contests this assertion. All marital property is divided equally by value. This means that though both parties may not end up with the same amount of items, they will each get 50 percent of the total worth of all assets. Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington, and Wisconsin practice this mode of division.

If you and your partner have come to an agreement about your divorce, and are willing cooperate, you can normally divide your property without the need for court intervention. This often ends in a satisfactory negotiation between parties. In order to determine how to divide your assets, it is important that you contact your state government. You don't want to run into barriers due to state laws. Each state has its own documents detailing how uncontested divorce property division should operate.

To start, detail your financial needs and priorities, and allow your ex-spouse to do the same. Often the largest issue in a divorce is the marital home. In most states, the house is considered marital property. This is sometimes true even if you bought the house prior to your wedding. Each state has regulations that can help you to legally divide your home, and there are a variety of options for to how to distribute this asset. You can sell the house and divide the profit, or reach an agreement where one spouse remains in the house and buys the other's share. A third way to divide a house is to grant one spouse exclusive use for a period of time, after which the house will be sold. This is the most complicated method, but can aid a mother with children who cannot move out immediately. This means that you and your former spouse will be joint owners of the home for a short amount of time, which can be emotionally draining for some.

Another asset you and your partner will need to distribute is your retirement plans. Most retirement plans come with a provision known as "marital property." Every state divides this retirement pension different;y amd sometimes dividing and distributing a plan a certain way can generate serious loss. Make sure to seek the aid of a professional before making decisions. Businesses are another complicated asset to divide. Depending on how much a spouse contributed to your company in time, effort, and finances and who started the business, you may be entitled to share this entity.

Securities, vehicles, insurances, cash, and money owed to you also need to be considered when you are dividing up property without court aid. Even small household items must be apportioned. It is imperative that you discuss certain collectibles or heirlooms that are important to you. Negotiation and patience help to make this a productive process.

Try to minimize any debt, so that you do not need to deal with parceling this burden between you both. Collecting agencies may contact you for your ex-spouse's debt long after your divorce, so it is best to carefully do-away with these financial obligations. This may mean selling some of your posessions, but it will be well worth it. Also, if you have mortgage and car loans that you have taken out as a couple, it is recommended that you refinance to avoid complications in the future. If you are able to reach a satisfactory standing on your own, the state will normally recognize your property division plan without qualms. If not, then you will be subject to a court appointed division before your divorce is finalized.