Marriage brings more than just a spouse and oftentimes children. It brings the complete cohesion of a couple's life, everything from living quarters to finances to family. This is a big reason why divorce can sound so daunting to a couple thinking about divorce. However, with the right effort, the process of property division can be completed to a person's satisfaction and they can move one step closer to finalizing a divorce.
Property division is meant to be a fair and equitable process. However, depending on a couple's situation, this can mean many different things. Many people have concerns about who will get the house, if the couple does indeed own property together. Also, questions tend to swirl around investment accounts, like 401(k), stocks and other investments the couple has made together over the term of their marriage.
The first step in beginning a successful property division is to dig into the finances of the marriage. Getting an accurate accounting of liabilities and assets can really make all the difference and it can bring to the forefront any issues that you are concerned about. It also can help a person to decide what they might be willing to negotiate for in order to get the asset that is really important to them, such as the house.
At Selleck Legal, PLLC, we take into consideration all aspects of the finances in finding the most favorable outcome and strategy for our clients. The process of property division can cause stress, especially if a person is unsure about their financial situation. Despite this, the details can be revealed with a little detective work.