As a psychologically trained divorce attorney and mediator for over 35
years, I can tell you divorce can be a complicated and an emotional process.
One of the most challenging parts of divorcing can be the division of
property and assets.
In order to help make things smoother for you, I have created a list of
my 10 tips to help guide you when you are dividing property during a divorce:
- Make a list of all assets and debts: Put a list together detailing you
and your spouse have accumulated during your marriage. This list should
include items such as real estate, bank accounts, vehicles, and any other
property you both own.
- Hire a mediator: Mediation can be very effective if you and your spouse
are having difficulty agreeing on the division of property. A neutral
third party can help you both reach an agreement that is fair and equitable.
- Get an appraiser: If you have items that are difficult to value, such as
art or antiques, consider hiring an appraiser. This will ensure that each
item is fairly valued and that you are dividing your property equitably.
- Consider the tax implications: When dividing property, it is important
to consider the tax implications of each item. For example, if you sell
a property, you may be liable for capital gains taxes.
- Be flexible: Be willing to be flexible and open to different options. For
example, instead of fighting over who gets the house, consider selling
it and dividing the proceeds.
- Create a budget: Create a budget that takes into account the costs of dividing
your property. This will help you avoid overspending on legal fees or
- Consider the emotional value of items: When dividing property, it is important
to consider the emotional value of each item. For example, if one spouse
has a strong emotional attachment to a piece of jewelry, they may be willing
to give up another item in exchange for it.
- Remember retirement accounts: Retirement accounts can be some of the most
valuable assets that you and your spouse have. Make sure to consider these
accounts when dividing property. Be aware there are tax implications as well.
- Think of the future: When dividing property, it is important to consider
what each item may be worth in the future. For example, if you are dividing
stock, consider the potential for growth.
- Seek legal advice: It is always a good idea to seek legal advice from an
attorney who specializes in divorce and property division. They can help
you understand your rights and ensure that you are making decisions that
are in your best interest.
Dividing property during a divorce can be a challenging process, but with
careful planning and consideration, it can be done fairly and equitably.
By following these tips, you can ensure that the division of property
is as smooth and stress-free as possible.
As a psychologically trained divorce attorney and mediator, I am skilled
at providing legal/common sense direction to help you make important decisions
when it comes to division of property as part of the divorce process.
Let me be your guide. Call me now to find out more…
FREE 1-HOUR CONSULTATIONS are
still available virtually!
I look forward to helping you!
New York Divorce Lawyer Lois Brenner is a division of property expert!
Call now to schedule your FREE consultation.