An excellent divorce lawyer will often help you identify and establish the value of assets along with representing your best interest. It is always better if you and your spouse can concur on how all resources should be split. When you don’t agree, the decision is left to the judge in the majority of states. Divorce courts handle all types of properties including credit card rewards, primary residences, time shares, pensions, family pets, business investments, and countless others. When couples disagree, it is generally out of resentment and they are just fighting to see who gets the last word. When this happens, a mediator may be invited to come in to serve you in working together and finding a fair settlement.

Marital property is defined as any property or debt that was accumulated during the marriage. This includes any equity or losses. Separate property consists of property owned before marriage including presents or inheritances that were granted to you as an individual. Individual property can be itemized in a prenuptial agreement that will keep it guarded no matter what the circumstances of the marriage.

Property arrangements are typically resolved by you both. If you reach an agreement you will sign a legal document called a marital settlement agreement. If not the superior court will award the property by the decree of divorce. Whenever the two of you cannot agree, the court has specific processes it employs to split the assets. Discovery process is used to examine what assets and debts are included in the marriage. A monetary value will then be given to each asset and debt. It’s important to know that state family law provides equitable distribution for marital assets. Equitable distribution is when the judge uses certain things to decide how the property will be split fairly and not necessarily equally. These types of factors include personal income, age, and who is the primary caregiver for the children.

To receive a fair settlement and in order for your lawyer to be most beneficial, you need to know what assets you have and whether they are marital or separate. Getting this data for your attorney will make their job simpler and they can concentrate on more important things such as filing all the paperwork and determining what to do if the other party contests the division of assets. It well benefit you greatly to try to reach an agreement with your spouse so you can both get things you want or be compensated how you see fit. If not a judge will do this for you and the consequence could be crushing.

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