Divorce can be a challenging and emotionally charged process, and one of
the key aspects that often leads to disputes is the division of assets
and liabilities.
While every divorce is unique and the specific items fought over can vary
greatly depending on the circumstances and the couple involved, there
are some common items that tend to be sources of contention.
As a divorce attorney/mediator it is my role to help clients make the best
possible decisions when negotiating, mediating, or litigating for what
they want.
If you are considering divorce, let me share with you a list of items that
are frequently fought over in a divorce. Take some time and think about
how you will want these to be handled in your divorce.
Family Home
The marital residence is often one of a couple’s most valuable assets,
and deciding who gets to keep it or whether it should be sold can lead
to significant disagreements.
Vehicles
Cars, motorcycles, boats, or any other vehicles owned by the couple may
be subject to dispute over ownership or division of value.
Bank Accounts
Joint savings and checking accounts, as well as individual accounts, can
be sources of contention during divorce proceedings.
Retirement Accounts
401(k) plans, pensions, IRAs, and other retirement savings accounts may
need to be divided or shared.
Investments
Stocks, bonds, mutual funds, and other investment accounts are often subject
to division or negotiation.
Business Interests
If either spouse owns a business, determining how to divide or value the
business can be complex and contentious.
Real Estate
Besides the family home, other properties like vacation homes, rental properties,
or undeveloped land may need to be divided or sold.
Household Items
Furniture, appliances, electronics, artwork, and other household possessions
are often fought over, especially sentimental or valuable items.
Jewelry and Personal Belongings
Items with sentimental value, such as wedding rings, family heirlooms,
or personal collections, can become points of dispute.
Pets
Determining custody or ownership of pets can be a highly emotional aspect
of divorce proceedings.
Debts
Both joint and individual debts, such as mortgages, credit card debts,
student loans, and other financial obligations, may need to be addressed
and divided.
Child Custody and Support
While not tangible items, determining the custody and support arrangements
for children can be a highly contentious issue.
Spousal Support/Alimony
Determining whether one spouse is entitled to receive support payments
from the other and the amount can be a source of disagreement.
Insurance Policies
Health, life, and car insurance policies may need to be reevaluated and
adjusted after divorce.
Intellectual Property
Intellectual property rights, such as copyrights, patents, or trademarks,
may need to be assessed and divided.
Digital Assets
Digital media, online accounts, crypto currencies, and other digital assets
can become subjects of dispute.
Inheritance and Gifts
If one spouse received inheritances or significant gifts during the marriage,
they are usually considered separate property if they have not been comingled.
Professional Degrees and Licenses
A professional degree or license obtained during the marriage could be
considered a marital asset and can be a point of contention.
Social Security Benefits
If a couple has been married for at least ten years, one spouse may be
eligible for a portion of the other spouse's Social Security benefits.
Divorce may be new to you, but it’s not to me!
Having represented many thousands of people in divorce matters over the
last 35 years as a medically trained divorce attorney and mediator, I
have the wisdom, strategy and skill you need to help you get what you
want. Know what you are entitled to and to get the best possible results
whether negotiating, mediating, or litigating!
I look forward to answering all your questions about divorce and getting
you what you want.
Warm regards,
Lois
Call New York Divorce Lawyer Lois Brenner now to schedule your consultation.
Call 212.734.1551