How to split assets during a divorce
Written by Craig Cherney

How to split assets during a divorce

Dividing assets during a divorce can be a highly-emotional and daunting. Rather than allowing the courts to decide “who gets what,” couples can choose a collaborative divorce process. This allows you and your spouse to work with trained professionals who can help you better understand how to amicably split assets during a divorce.

How to Split Assets During a Divorce

When it comes to divorce, knowing how to split assets equitably is essential. Understandably, this can be a highly emotional experience. It’s critical to have a clear understanding of the impact your decisions can have both now and in the future.

During this process, it’s important to consider how a divorce can affect your income, your lifestyle, and even your net worth.

During the collaborative process, the objective is to work toward an outcome that works in the best interest of everyone involved. A Collaborative Divorce Attorney can help guide you through the process of how to split assets during a divorce and a Neutral Financial Specialist can help explain the potential consequences of your decisions.

Things to Consider When Splitting Assets During a Divorce

It’s common for couples to encounter emotional and sentimental attachments during this process. Dividing everything you’ve worked so hard for and built together is a painful and often messy process. That’s why it’s imperative to work with a trained professional who can help you navigate this complex legal matter. Your Collaborative Divorce Attorney can help differentiate between financial and emotional based decisions.

Common Marital Assets

There are a number of items you’ll need to discuss with your soon-to-be-ex-spouse. Some of the most common assets addressed in a divorce include:

  • The family home and contents including art and antiques
  • All Vehicles, recreational vehicles, boats
  • Retirement plans like 401(k)s, IRAs, Pension plans
  • Annuities
  • Life insurance
  • Brokerage accounts
  • Bank accounts
  • Closely-held businesses
  • Vacation Real Property or Timeshares

As couples decide how to split assets during a divorce, it’s important to separate sentimental attachments. While divorce is a naturally emotional experience, important decisions should be well-informed and financially-based. A collaborative divorce professional can help separating couples reach an agreement that will best meet the needs of everyone involved.

Why Choose Collaborative Divorce

If you are considering a divorce, choosing the collaborative process might be right for you. In doing so, you can reduce the negative impacts and damages commonly associated with a traditional divorce. This process also helps to create an amicable, respectful environment that will encourage a healthy relationship in the future.

It’s always better to hire a trusted expert who understands how to navigate this complex legal process. By choosing to work with a collaborative attorney, you can benefit from additional access to supplemental services. These services are provided by professionals in a variety of fields including financial neutral professionals and communication coaches.

When you’re ready to learn more about the collaborative divorce process, contact a Best Legal Choices professional.