Divorce can be a frustrating topic to navigate, and even harder for those who find themselves caught in the middle of dividing expensive assets between spouses.
When you both earn large salaries or have costly shared items, it can be hard to know who gets what after the divorce.
Seek outside help
Many find it helpful to ask a lawyer about how to go about this process. Getting a third party’s advice can also help to nullify disagreements between individuals, especially if the process is lengthy and emotionally taxing. Each spouse should have his or her own divorce attorney.
In some situations, one spouse controls all the money. If you possess joint accounts, then you can use money from that for the proceedings. For example, if there is one breadwinner then he or she may end up paying the legal fees for both of you.
Privacy is key
Many people do not wish to divulge private information to those who do not need to know it. Naturally, keeping your earnings or assets out of the spotlight in a divorce proceeding is top priority. Some sensitive documents may get sealed after court proceedings.
Account for all property
Some unique assets may get lost in the shuffle. In addition, you may share others or they may merely be one person’s private belongings. Assets you buy after marriage are considered community property in some states.
Even obvious possessions like cars, businesses, computers or other equipment, collectibles, and pricey art may get forgotten if you are not careful. Not every asset is a tangible item, so make sure to check for less common ones too.