Posts made in May, 2015

Divorce: Dividing Assets and Properties

Posted by on May 13, 2015 in Assets

There is no way to sugarcoat the process of divorce. Going through one will surely be a trying time. No matter how amicable the decision, a couple that have decided to end their union and file for a divorce will be going through a lot emotionally and psychologically. The stress of the situation doubles when couples have to take into consideration the many legal issues they have to come in agreement on. Among such complications include the decision on how they will have their shared assets and properties divided.

According to the website of divorce lawyer from Arenson Law Group, PC, divorcing couples can decide on their own how they would like to have their assets and properties divided. However, in most cases, such decisions come to an impasse and the possibility of coming to an amicable arrangement is lost. Property division and other financial concerns are typically very hotly contested issues during divorce proceedings. There is usually plenty of baggage when couples have to decide what to do with their assets and properties, especially if one spouse had been financially dependent on the other. When this happens, the court—with the judge acting as executor—will have to step in to make the decision for the couple. It is fundamental therefore to hire a highly trained lawyer.

The court divides a divorcing couple’s shared assets and properties after taking several factors into consideration. Ideally, family courts prefer to divide assets and properties equally. However, this decision can’t always be applicable for most scenarios. The court will try to exercise fairness and examine the incomes and earning opportunities of each spouse. Factors like the age and health of each spouse can also be taken into consideration. Sometimes, family courts will also consider the how long the marriage lasted. If the couple has children together, the court will also make necessary provisions for the spouse that had been granted with physical custody.

Generally, the court will take into consideration specific details that will help them determine the best decision for a given situation. It can take some time before a judge can definitively decide how to divide a divorcing couple’s shared assets and properties. This can cause a lot of stress for the individuals involved in the process, particularly if the divorce is already antagonistic from the start. It will help if the couple can seek out experienced legal counsel on their own to learn more about how they can ease the process.

Learn More