Many factors need to be addressed when starting divorce proceedings. Who will take care of the children, pay for their maintenance, and how they jointly acquired property will be divided.
During the division of property in a divorce case, family law attorneys can help the process.
The partition process may be referred to as mediation for resolution in all other cases. In some cases, spouses will only agree to such a partition with the assistance of their lawyers. In rare instances where two parties cannot agree on how the separation should occur, the courts may intervene by ordering how the separation will occur. Most spouses would prefer to settle this process before the court intervenes and control slips out of their hands.
The joint property will include all assets accumulated by the couple during the marriage, including earnings and everything purchased. The joint property also has debts incurred during the marriage, making both parties liable for these unliquidated obligations. The property division will be determined primarily by law whether the assets in question are community or non-community.
Disjointed or separate property includes assets such as gifts or inheritance given to only one spouse, pensions received before marriage, and businesses started before marriage and managed by only one spouse. In some cases, the line between joint and non-public property can become very blurred, for example, when both spouses start working in a business started by one of them.
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Non-public property remains in possession of the spouse to whom it belonged in the first place. It is important to use the services of family law attorneys who can ensure that the separation process runs as smoothly and fairly as possible. There may also be an investigation to determine the original recipient of a particular asset. If the joint property is a key factor in the property division, as in many states across the country, the courts will divide most of that property equally between the two parties.
The assets gained during the marriage are divided fairly, which means that whoever earns the highest income gets two-thirds of the assets and property, while the other spouse gets one-third.
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The division of property is a challenging aspect of the divorce process. With competent family lawyers working to settle with clients, the entire process is guaranteed to go more smoothly. Determining the difference between community and non-community property can be a significant problem when the line between the two becomes blurred.