Property division can cause significant tension in a divorce. You and your spouse may not agree on how to divide your assets fairly.
You should understand your options and develop a property settlement plan before you begin separating your assets.
Stress reduction
When navigating the separation of assets, you should take measures to reduce your stress levels. Incorporating stress management strategies like mindfulness meditation and yoga can help you deal with your divorce. Make sure you eat a nutritious diet, exercise regularly and get adequate sleep, too. Finally, discussing your stress with a therapist can help you work through your feelings before you enter negotiations with the person you are divorcing.
Financial assets
Dividing financial assets can be complex, particularly if one or both spouses have significant savings and investments. Discuss creating a property settlement with your attorney to help separate your assets. You should prepare a list of your assets, identifying both shared marital property and separate property. Remember to disclose everything you own, as concealing property is not legal.
Real estate
If you and the person you are divorcing own a shared home together, consider your options before you file for divorce. If neither of you wants to remain in the house, you can sell the property and divide the proceeds as part of your divorce. You can also buy your spouse out or trade ownership of the home for other assets if you wish to stay. Some divorcing couples, particularly those with children, choose to continue to co-own their family home.
Separating assets can be a source of divorce stress. However, you can make a plan for property division that helps reduce tension.
