Dividing Property In A Divorce Is A Serious Matter - What Is The Best Way Out

Divorce is the end of an era for most people. Whether they lived together for two years or twenty, divorce makes you feel like a totally different person. Somehow, you find a new identity for yourself very similar to being reborn. There are many steps that would take you through this transition to a new entity. Dividing property in divorce is one among the many ugly "have-to-be-done" tasks in this split-up process.

Best Ways To Do It

Divorce is a very painful phase for both spouses and dividing property in a divorce case is often one of the most serious concerns. In most cases the aggrieved spouses want their counterparts to suffer the most and therefore fights over the property become very bitter. The courts usually consider all property accumulated during marriage as "marital property", where both spouses have equal shares when dividing property in a divorce.

There are a few exclusions from the marital property which include property that the spouse owned before the marriage, as well as inheritances and gifts either spouse got during the marriage. In cases where a spouse contributed to a common item he or she would be reimbursed by the spouse who is awarded that item. For example, if the husband keeps the house and the wife has contributed US $10,000 towards the down payment for that house, the husband would have to reimburse that amount to her.

In most states across America, dividing property in divorce cases is done equitably, which means it is not a blind 50/50 sharing of the marital property. Rather, it is a distribution of wealth which should be fair to both parties, taking into consideration a number of factors such as their earning capacity, their contribution, and the duration of the marriage.

Instead of going to the court and waiting for the decree, it would always be best that both spouses go for an amicable settlement when dividing property in a divorce case. In many cases this would give a better distribution of the marital property since both spouses would know what the other would prefer to take. It is also not uncommon to find that the spouse who earns more to be partial to the one who has lower capacity of earning during amicable settlement.

When Court Intervention Is Inevitable

If you find yourself caught in an unreasonable situation where your spouse demands much more than you are ready to give, consult your attorney immediately so you would know what the lawful way to protect your interests would be and fight for your rights in court.