When a couple decided to end their marriage with a divorce, they must need to find a method or a process where they can extricate themselves from each other in a method which can allow them to continue moving forward with their own personal lives.
Though the decision to end their marriage and separate from each other is somewhat personal and highly emotional, there are changes and other circumstances during the divorce process where couples should undergo, and that includes the division of your assets and properties.
In a divorce, the couple should divide their conjugal properties, including everything that they both owned, from small things up to their savings, regardless of its size and value. One of the processes of divorce is to determine how conjugal properties are divided and that includes both of your large assets and properties such as vehicles, home, businesses, investments, funds, savings, and other items that have a higher value.
Moreover, deciding on how to divide personal and smaller items can be a bit challenging and long-winded. Oftentimes, the decision is left up to the spouses to arrange and agree on how the following items will be divided equally. If an agreement is not possible for the couple, then Montgomery county family lawyer will get involved during the process.
So before filing for a divorce, make sure you are knowledgeable about what to expect when both of you decided to divide your assets and properties and that includes household and personal items.
Below are the following details of these process:
Your Private and Personal Belongings
Belongings and possessions that are usually belonged to only one spouse like clothes, family heirlooms, or personal gifts will remain yours after the court approve your divorce case. Usually, these types of belongings are rarely subject for asset and property division but shared items like furniture, tools, cooking utensils, and so on are considered as community property which will likely to be subjected for property division.
The Amount and Value of the Items or Properties
During the divorce process, the property and asset the couple shared during and after their marriage should be appraised so that the property division process is fair and just. Therefore, both parties should agree on the value of each asset and properties. On the other hand, for personal and household items, the value is usually cleared and clarified, unless the items are high-value such as antiques or fine collections. Oftentimes, you and your spouse may divide the price of the appraisal professional who will determine the value of a certain item that you both shared.
Deciding Your Choices
Once you already know your assets value and worth, you might need to consider what items you want to keep. Usually, others preferred to get rid of shared household items and keep more valuable items instead. But if you have a certain item you really want to keep, create a list and tell your lawyer about this list. Like for example, you want to keep a certain piece of furniture that you personally picked for your living room, or you want the antique vase from your wedding. Whatever the properties and assets are, always make sure to know what the most important items to you.