Divorce is not an easy process emotionally or financially. It results in the division of assets and property. Resolution for personal property division normally takes place at the end of a case, but this is when anger and resentment is often the most pronounced. This results in difficulty when both parties are trying to agree on the division of personal property. Dividing assets like bank accounts and stocks is straightforward, because there are documents that define worth. However, personal items can have sentimental value and leave open for debate the actual worth. If you are looking to make the division of personal property during your dissolution of marriage case simpler, there are a few steps that you can take.
Inventory and Appraise
It is always recommended that you have all personal items shared between both parties inventoried and appraised at the beginning of the case. This is necessary if one party is going to be keeping some of the items during the case. There is always a risk that one party will claim that an item became lost or damaged. Having all personal items inventoried and appraised in the beginning is a preventative step that makes dividing these items simpler at the end of the case. Without an inventory and value of the items it can be difficult to get both parties to come to an agreement.
It can also be a good idea to have the division of personal property mediated. A mediator will be able to get both individuals to come to an agreement on how all items should be allocated. This will allow a list to be created that both parties can agree to that states who will get what items and what value those items have. The judge will then have the ability to sign off on this list during the early stages of the case
Avoid Judge Ruling
It is also important for all parties to be aware of what happens if they do not come to an agreement on the division of personal property. Most judges will simply suggest that both parties engage in an alternate selection of property. The person that is chosen to begin is simply the one that wins a coin toss. If both parties want to avoid this process, they must be willing to come to their own agreement without the need for the interference of a judge. Dividing personal property is not easy, but it is better to do it on your own than to allow a judge to make a determination.
For more information, talk to your family lawyer.Share
23 October 2015
My name is Jeanette Kennan. I have been a high school legal studies teacher for many years. As such, I am fascinated by legal cases I come across in the media. Family and friends often consult me about minor matters related to the law and although no expert, I can often point them in the right direction. It occurred to me that there may be other people out there who are not aware of basic legal issues. After all, you probably don't think about legal matters related to death, accidents or crimes until you find yourself in a crisis situation. This blog is designed to give you some introductory information about a range of legal topics. Hopefully, it will help you to be prepared and informed should a legal concern arise. I really appreciate you breaking in to my humble little site. Please enjoy.