Making the Decisions

If the two spouses are able to amicably and mutually agree on the division of the martial assets, then the arrangement will simply be documented in the Separation Agreement and adhered to. Sometimes, the aid of a third party, such as a lawyer or mediator, can be used to obtain the mutual agreement. However, in such instances where cooperation is not attainable, it is necessary for this process to be completed via the court system.

The first step in any impending division would be to actually identify all of what constitutes the actual martial property. It is at this point that all joint bank accounts and credit cards, equity lines of credit, etc., would be closed, with the assets to be added in with the martial property to be divided up in the Separation Agreement or by the court. It is not unwise to actually document all pieces of martial property, such as stocks, bonds, cars, household furniture, a family business if applicable, cash value of insurance policies, and the like. At this time, a list of liabilities should also be collected for any and all outstanding debt. This would include mortgage payments, credit card obligations, home equity loans, personal loans as yet unpaid, etc. A fair and equitable distribution of the "martial debt" will go hand in hand with the martial property.

The next procedure would be to give each piece of property an actual fair market value, an actual monetary figure representative of what the actual property realistically could bring in an open market environment. In some cases, the future value of any particular property will also be given consideration. And the final step would be the actual distribution itself.



Useful Online Tools

Suggested Reading
The Property Division Handbook The Property Division Handbook
This book will explain in detail the property distribution aspect of divorce and separation. It will focus on the rights each spouse has under certain laws, situations, and circumstances, and how the division of the property will be decided by the court or through negotiation.

Download Now


Recent Related Blog Posts
    All Property & Debt Blog Posts

Related Article Archives
Cost of Divorce
Financial Planning & Divorce
Property & Debt Division
Property Valuations
Premarital Agreements
    All Article Archives

Related Categories
Alimony & Spousal Support
Divorce Financial Planning
Divorce Laws
Estate Planning & Divorce
Pensions & Divorce
    All Categories
Related Forums
Bankruptcy
Financial Aspects
Pensions
Property & Debt
    All Forums

Resources & Tools

Bookstore Promotion Discount

Start Your Divorce Online Start Your Divorce
Several Options to Get Started Today.
Divorce Tools Online Divorce Tools
Keeping it Simple to Get the Job Done.
Divorce Downloads Download Center
Instantly Download Books, Guides & Forms.
Divorce and Custody Books Discount Books
Over 100 of the Best Divorce & Custody Books.
Negotiate Online Negotiate Online
Settle your Divorce and Save.
Custody and Support Tracking Custody Scheduling
Make Sure You Document Everything.
   
COMMUNITY PROPERTY VERSUS EQUITABLE DISTRIBUTION -- There are two basic ways to handle divorce property division: Community Property: Alaska, Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington, Wisconsin and Puerto Rico are community property states. This means that all marital property is typically defined as community property or separate property. When divorcing, community property is typically divided evenly, and each spouse keeps his or her separate property. Equitable Distribution: All other states follow equitable distribution. This means that a judge decides what is equitable, or fair, rather than simply splitting the property in two. In practice, this may mean that two-thirds of the property goes to the higher earning spouse, with the other spouse getting one-third.
Start Divorce

Easily Connect With a Lawyer or Mediator
Have Divorce Professionals from Your Area Contact You!
Enter Your Zip Code:

 

Featured Book Divorce & Money: How to Make the Best Financial Decisions

Divorce & Money: How to Make the Best Financial Decisions

Divorce & Money: How to Make the Best Financial Decisions

 

Featured Download What Happens to the Marital Home Upon Divorce

What Happens to the Marital Home Upon Divorce

What Happens to the Marital Home Upon Divorce

View Property & Financial Resources in Our Online Bookstore

Guarantee Official PayPal Seal Facebook Twitter Versign Secure Site
Limited Offer Women's Rights Manual For Divorce
Cover Price: $55.95
Your Price: $29.95
You Save: $26.00

"The Absolute Best Investment in Your Divorce"

Men's Rights Manual For Divorce
Cover Price: $55.95
Your Price: $29.95
You Save: $26.00

"Uncover Your Options and Unleash Solutions"