Going through a divorce is always a very difficult period
Unfortunately, filing for divorce is just the first step. A major factor that surfaces with great contention, is property division. Many hours are usually spent arguing the value of prized possessions. It is often the best case to obtain resolution prior to a court valuation. This can significantly save cost and prevent months of delays.
It is important to note that equitable division is meant to be fair, but may not always be equal. There are many factors which are considered when determining how property will be divided during divorce; age, health, sources of income, length of the marriage, and occupations of both spouses, to name a few.
Marriages that are deemed short-term, the court may determine each spouse will receive the property they had going into the marriage. Depending on the length of the marriage, often the court may rule that long-terms marriages deserve an equal share of the property.
Another important issue is martial and non-marital property. Property obtained during the marriage is considered shared property. Non-marital property includes property owned by a spouse before the marriage, as well as gifts or inheritances, depending on the specific item.
Due to the complex and sensitivity of these negotiations, you should always discuss your situation with a knowledgeable divorce attorney. Proper evaluation of your property and assets, is critical to understand options that are available to protect your financial future.