Ways Property Is Divided during Divorce

There are several ways that couples can divide their property during a divorce. Understanding the different options available to you and how each one can benefit both parties will help you get through the divorce process without feeling taken advantage of. In many cases, both spouses know what items they want, which means that they can request the items, be given them by the spouse, or even "buy" them from their partner. If there are assets that neither party wants to retain, they can be sold and the profits divided. While it is uncommon, there are times when spouses may decide to retain property together after the marriage.

This can be complicated, but may be beneficial for some reason to both parties; for example, one spouse may live in the family home until the children have graduated, at which point it can be sold and the profits split. Property division also pertains to debts accumulated during the marriage. These debts must be addressed and assigned to one or both parties. Have questions about property division? Speak with a family lawyer in your area now!