If you have sat in divorce cases or you have listened to your friends that have gone through a divorce, most of them will tell you they split their property by half with their partners. Is this the norm? Is everything split 50/50 in a divorce?
Family lawyers report that this isn’t the case as no two relationships are similar, so no two property settlements are the same. You can split your property 50/50, 60/40, 70/30, 95/5 or any other way.
For the judge to decide on the ratio to split your property, he has to consider plenty of factors that include:
- The children’s welfare
- Income, earning capacity and other financial resources available now or might be available in the future.
- The standard of living before the marriage broke down.
- The contribution that each family member made to the family. The contribution is both financial and looking after the home and children.
- The value of any benefit that one half of the couple has to bring to the table. This might be pensions, or any other thing.
- Health problems or disability might impact the earning capacity or care costs.
Property division tips
Division of property after divorce is a hot issue, but you can sail through by considering several tips:
Understand the difference between separate and marital property
From the name, separate property is the property that you own apart from your partner, and marital property is the property you own together. Before you go into divorce, have a sitting with your partner or partner’s lawyer and agree on the marital assets and those that are separate.
You should note that in court, in the event there is a disagreement on who owns what, the person claiming the item has to prove they own it separately. You can prove this by showing the purchase date, where you got the funds to buy it, and how you kept the item separate during the marriage.
Property settlements are final.
A common mistake people make (especially men) is to leave everything to their partners to get over the divorce. Some people hope that once the dust has settled, they can go back and iron things out with their partners and get what is rightfully theirs.
You should not go this route as, unlike child support, visitation, alimony, and custody, you can’t modify property settlements after making a decree.
If you feel you deserve part of your assets, work with your lawyer and ensure you get it before the process is over. Don’t think that you can change it later on.
Be honest in your financial declaration.
It’s hard to gather every document of every bit of property that you need to divide, but you need to be accurate and ensure you capture all the assets you own.
This way, you ensure that you have the discussions in good faith, but it also makes the judge put you in good light as they don’t deem you as a liar, which increases your chances of getting a fair hearing.
Remember that failing to report significant assets can derail the process and raise trust issues that complicate future negotiations.
Use attorneys and negotiation professionals
Don’t go through the divorce process alone—involve experienced divorce lawyers Fairfax VA that understands how your jurisdiction handles property division. This way, they will easily analyze any situation and provide you with expert advice after weighing in the risks and rewards involved.
The lawyers will also serve as excellent mediators and develop creative solutions that will be appealing to both sides and help bridge the gaps even in the most contentious divorce.