5 Tips for Splitting Up Property in a Divorce
Divorce isn't something people like to think about or expect may happen to them. It's not always a "walk in the park" either. It may be the hardest thing you ever do in life our divorce attorneys at the Lake of the Ozarks are here to help you in any way we can. Keep reading for a few tips for splitting up property in a divorce. If you are going through a divorce near the Lake of the Ozarks area, call Phillips, McElyea, Carpenter, and Welch today at 573-346-7231 for your free consultation.
1. Know what the "marital property" is.
Marital property or essentially shared property can be the assets or debt accrued together during the marriage. Having this in mind can help you split up your property during the divorce and get through it smoothly as possible.
2. Get organized and make a list of your assets.
Organization is key. Get together and make a list of all your assets. You can also each try making your own separate lists then once you meet, compare the two and make sure everything matches up.
3. Determine the value of your items.
If you are having trouble figuring out what the value is of each item, you can try getting them appraised. An experienced Lake of the Ozarks attorney should be able to refer you to someone they've used before.
4. Remember that you may have to share in paying off accrued debt.
Debt that was accrued during the marriage, that could be including but not limited to:
5. When you are ready, have a settlement agreement drafted.
Once you have agreed on everything, see an attorney and have the settlement agreement drawn up by a professional. If you feel like you can't agree on anything, having a third party or a mediator step in may be a good course of action. Either way, you should take to an experienced Camden County divorce attorney about all of this so they can help answer any questions you may have and provide expert legal guidance.
Divorce can run much more smoothly when you have an objective voice of guidance who has guided many couples through this rough path before. This is where our Lake of the Ozarks divorce attorneys come in. Phillips, McElyea, Carpenter, and Welch specialize in assisting those who are in need of an experienced divorce attorney. If you have questions on these types of matters, please do not hesitate to give us a call today at 573-346-7231 today for your free consultation.
5 Tips for Splitting Up Property in a Divorce
1. Know what the "marital property" is.
Marital property or essentially shared property can be the assets or debt accrued together during the marriage. Having this in mind can help you split up your property during the divorce and get through it smoothly as possible.
2. Get organized and make a list of your assets.
Organization is key. Get together and make a list of all your assets. You can also each try making your own separate lists then once you meet, compare the two and make sure everything matches up.
3. Determine the value of your items.
If you are having trouble figuring out what the value is of each item, you can try getting them appraised. An experienced Lake of the Ozarks attorney should be able to refer you to someone they've used before.
4. Remember that you may have to share in paying off accrued debt.
Debt that was accrued during the marriage, that could be including but not limited to:
- Mortgage
- Credit Card Debt
- Car Loans
...etc. Throughout the divorce process, you may be coming up with a process that requires you both to pay these things off in a shared capacity.
5. When you are ready, have a settlement agreement drafted.
Once you have agreed on everything, see an attorney and have the settlement agreement drawn up by a professional. If you feel like you can't agree on anything, having a third party or a mediator step in may be a good course of action. Either way, you should take to an experienced Camden County divorce attorney about all of this so they can help answer any questions you may have and provide expert legal guidance.
Divorce can run much more smoothly when you have an objective voice of guidance who has guided many couples through this rough path before. This is where our Lake of the Ozarks divorce attorneys come in. Phillips, McElyea, Carpenter, and Welch specialize in assisting those who are in need of an experienced divorce attorney. If you have questions on these types of matters, please do not hesitate to give us a call today at 573-346-7231 today for your free consultation.
Law Offices of Phillips, McElyea, Carpenter, & Welch, P.C.
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Camdenton, Missouri
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