Michael G. Putter Attorney at Law
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Posts tagged "Property Division"

Big or small, all assets must go through property division

People who think about property division often focus on the larger assets. This is understandable because they usually have the biggest impact on your finances. However, you might not be fully prepared at the depths that you will have to cover when you go through the division of marital property.

Dividing up sentimental items when you divorce

For a lot of couples, it's not that hard to divide the marital assets. They can quickly agree about how to handle the house, the bank accounts, the pensions and any investments. These days, many spouses either enter into marriage with a prenuptial agreement or have roughly equal separate income and investments. The big problem isn't centered around how to split the "big" things. It's the little things -- those with sentimental value -- that become hard to divide.

Balance property division terms and your emotional health

Trying to figure out how to divide things in a divorce can be challenging. This is definitely the case when you are cutting ties from someone who is controlling. For some people, the reality of their life is that they have been limited in earning and opportunity for the duration of the marriage. Their soon-to-be ex is now using that to try to limit what they can walk away with during the divorce.

Real property comes with complex division points

The real estate that you and your ex amassed during your marriage is a huge consideration when you are going through a divorce. You might be tempted to try to keep the biggest properties, but this might not be in your best interests. There are several things to consider when you are working through the property division process.

Biggest isn't always best in property division

Property division in a divorce can be a challenging matter to work through. The situation becomes even more challenging when you are dealing with multiple properties. Trying to balance all of this out will prove to be difficult. One thing that you can do in these cases is to think about which piece of property you do want to keep and which ones are just going to be money pits that you can let go.

Logical thinking is your friend during property division

One of the important things that you will have to do if you divorce is to determine who is going to keep which assets, but you can't forget about the marital debts. All of these must be split up in the property division process. It is imperative that you go into this process with a clear head and an idea of what you are going to fight for. We realize that this isn't going to be easy, but we are here to help you evaluate the options that you have.

Divorce impacts debts and potentially your credit

Most people think of the marital assets when they are considering property division during a divorce. They tend to forget that someone has to pay the marital debts. These have to be split up during the property division process, but it might not be as easy as you think. Oftentimes, these are used to balance out the asset division to make it more equitable.

Property division might not always be easy during divorce

Splitting up the property that was accumulated during a marriage is a challenge in some divorces. This is because both parties might have specific things they are attached to that they don't want to let go. When both are attached to the same property, there can be a fight over who gets to keep it. But there is much more to property division than just trying to get the items you want.

Pensions, retirement accounts have special divorce requirements

People often work at companies that offer retirement benefits. This is a great way that you can save for your retirement and know that you will be taken care of in the future. There is one situation that might throw a wrench in those plans – a divorce. If you are going through a divorce, you will have to determine how those retirement assets will be divided.

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