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Know what you can afford when dividing property

| Nov 9, 2018 | Property Division |

Dividing up the marital property is one of the main things that has to be done when you are going through a divorce.

For some, this is a simple process. In other cases, it is more complex. It is imperative that you consider all the options that are available for getting this done. We understand that you might have some questions about what’s possible. We are here to help you find solutions to this situation.

There are times when the property division process will include a variety of marital assets and debts. It might be necessary to have these valued so that you can divide them up properly. The valuation process can take time, but this is well worth it to ensure that you get what’s due to you. We can help you out with this.

Another thing you need to remember is that property division usually starts with assets that have the highest value. This might include the house and vehicles. Once these are placed, you can use the smaller assets and the debts to even things out. Just make sure that you don’t get saddled with the majority of the debts while your ex walks away with most of the assets.

As you are going through the assets, make sure that you think about the upkeep costs and similar expenses for all of them. It is a good idea to write out a budget so you can determine what you can actually afford. It is best to part with assets that will be more of a stress in your life. This leaves room for you to bargain for ones that won’t cause you financial challenges.