We know the legal terrain

  1. Home
  2.  » 
  3. divorce
  4.  » What are some quick tips for asset division during divorce?

What are some quick tips for asset division during divorce?

by | Mar 8, 2017 | divorce

There are many tips and tricks that can help you get through your divorce, from working through mediation to looking for missing assets. Here are a few things that might help you.

First, understand that many of your assets are fair game when it comes to divorce. Practically everything you own together can be divided, whether it’s royalties from a book you sell online or free hotel nights on a shared rewards account. This includes debts, too, so keep that in mind.

One thing you might want to consider is keeping track of where your spouse’s money is. Whether it’s in stocks or a bank account, many of those assets are also yours to share during a divorce. Look at loan applications or credit card applications to see if your spouse is reporting a higher income than you thought. You might just discover some additional assets you didn’t know about.

Remember not to hide your assets, either. If the court finds that you’ve hidden assets, you might be making the divorce harder for yourself. If you have hidden assets that are discovered, you’ll lose your credibility in court, and that can make a huge difference in what happens. You might even face monetary sanctions, penalties or fines.

These are just a few things to consider when you’re heading into a divorce. There are many facets to consider, and your attorney can help you work through your divorce one step at a time. With the right help, you can work through even the most volatile divorce with what you deserve.

Source: The Huffington Post, “40 Secrets Only Divorce Attorneys Know,” accessed March 08, 2017