Apart from the emotional toll that a divorce can take on a family, one of the most difficult aspects of the entire process is dividing the assets. The division of property includes assigning permanent possession of everything that is jointly owned such as the family home, vehicles and the funds in bank accounts as well as trusts, stock options, investments, pensions, retirement benefits and more. Due to the fact that there is a lot of your life at stake, it’s important to know what you should try to obtain through your settlement, as well as what you are entitled to. How can you do that? Continue reading below to learn how we help our clients to figure out what should be included in their settlement.
Be familiar with your case
Knowing the facts of your case is an imperative part of coming up with a list of reasonable demands where your divorce settlement is concerned. For example, you should know the following information and share with your attorney:
- The value of property owned and how much debt you are in.
- Information about your assets, such as overviews of bank accounts, retirement funds, trusts, stocks and bonds.
- Details about your spouse’s finances such as what their salary is and what they normally spend their money on.
- How much it will likely cost you to live on your own in the future. Consider things like housing, education, healthcare and childcare costs.
You should also enter the divorce process keeping in mind that you may not be able to get every single thing that you want. Divorce is all about negotiation, meaning you need to consider what truly has value to you and what you can go without.
Be willing to compromise
One of the best pieces of advice that we give to our clients is to try to compromise as much as possible while assets are being divided. If both members of the marriage are unwilling to compromise and argue endlessly simply to spite one another, both parties are likely going to end up on the losing end. You see, the longer it takes for you to come to an agreement, the longer you have to pay your counsel, meaning you will both be costing one another a lot of unnecessary funds.
You will also want to remember that negotiation is meant to keep the two of you out of court. If your case goes to trial, all choices are up to the judge, which will likely result in a poor situation for you and your spouse.
Get a lawyer who can help you
When you seek legal counsel at Pavithran Law Office, you can be sure that we will do everything we can to get you the settlement you deserve. We will also do our best to ensure that your divorce is as quick and painless as it possibly can be. Contact us today and we can make you an appointment to come into our office so that you can sit down with one of our expert attorneys.