When it comes time to end a marriage, there are often a lot of questions individuals have. Things can become complicated if the couple was married for many years or have minor children together. When pursuing a divorce, it is wise for individuals to meet with a divorce lawyer right away. A lawyer can help protect their client’s rights as they pertain to Dividing assets in divorce.
How Are Assets Divided?
The away assets are divided will greatly depend on the state’s divorce laws. Most states consider both community property and separate property so they can determine how the property will be split up during the divorce proceeding.
Community property includes all combined earnings made by both parties in the marriage and any and all property that was purchased with that money. A personal property of an individual spouse includes gifts given only to that spouse, properties owned before the marriage, or a personal injury claim settlement.
In deciding how to split up the property owned by the two individuals, the courts in most states consider community property to be split 50/50, which can sometimes be difficult with property that cannot be split. In the instances of homes and other such property, the courts will generally order these to be sold and the profits split unless the couple can agree on an arrangement without court intervention.
For the personal property of either spouse, the courts will generally rule that each spouse gets to keep what they brought into the marriage and what was given to them personally as gifts.
Get Legal Help
It is imperative individuals who are ending their marriage get help from a family lawyer. A lawyer fully understands the divorce laws of the state and can help their client protect their rights and best interests as they pursue the end of their marriage.
To get started with a lawyer, it is important the individual first schedules a consultation appointment. At this appointment, the individual can learn more about the laws and their rights so they can make sound decisions in the divorce process. Call today so you can schedule your appointment to get started.