Due to
the obvious massive number of items that must be split between spouses,
property division is among the most complicated aspects of a divorce. It may
take a long time to reach an agreement that both parties believe is fair and
equitable, the two guiding principles on which property division agreements are
based.
With
that in mind - it might be useful to grasp the fundamentals of property
division, be familiar with the regulations, and comprehend what it takes to
finalize your divorce on the terms you choose. When dividing property, it is
necessary to ensure that both partners are getting an equitable share.
This
means that each spouse walks away from the marriage with a roughly equivalent
share of the property. For instance, if you plan on taking the car following
your divorce, you'll likely have to give up your claim to something equally
valuable, like market investments or cash.
The
doctrine of equitable division protects spouses from being left with nothing if
the marriage ends. It's essential & vital to understand that there is a
distinction between "equitable" and "equal." Some states,
like California, require that property be equally split 50-50 between both
spouses.
While
other states, like Florida, merely require an equitable arrangement in which
both spouses leave with roughly comparable amounts of property. Pre-marital
property is usually exempted from division, meaning you'll probably want to be
familiar with what you're protected from parting with.
Generally
speaking, items you owned before your marriage are not considered marital
property, nor is property acquired as a gift or inheritance. Some spouses
attempt to hide items by giving them to friends as "gifts" to get
them back as a gift at a later date. If you fear your spouse is attempting to
conceal information in this manner, it may be good to consult with a Property
Division Lawyer.
Family law
disputes may be upsetting and intimidating. Nonetheless, before embarking on a
divorce, order modification, child custody, or any other major legal matter, it
would be sensible and beneficial to get the finest legal counsel. Contact the
office of Fizer Law, the finestDivorce
Lawyer in Long Beach, at 1~562~270~9944.
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