Dividing your personal assets during divorce can be one of the more difficult things to do. For some people, the items in their homes hold memories that they want to cherish. For others, the value of specific items makes them want to hold onto them.
There is no secret to working through the division of your assets. It will take some time for you to identify all of your assets and to start working out the value of those assets. Once that is done, however, you and your spouse will need to determine if you’re going to negotiate a settlement or if you have to take this to court.
If you decide to negotiate, there are a couple of major items that you’ll want to divide first. Some major assets to talk about include:
- Your home
- Your vehicles (if they are in both your names)
- Your collections
- Your furniture and appliances
Essentially, working through high-value assets is going to be most important. Many people can arrange the division of smaller assets, like clothing, accessories and more personal belongings without trouble. However, when it comes to dividing the family home or separating furniture, it can get tougher.
How can you make the most out of the property division process?
To make the most out of this, it’s worth negotiating. If you go to court for your divorce, the process will be longer, and you may spend down more of your assets in legal and court fees. Negotiating will allow you to save more, in most cases, and you will be able to explain your reasoning for wanting what you do.
Most people are able to settle out of court. If you cannot, then your attorney can also help you at trial.