Property settlement after separation should start with a civil discussion. Before entering into a formal agreement, seek legal advice. Once the terms of your property settlement are formalized, it will be impossible to change them later. The best way to avoid this is to avoid entering into a court case. This will save time and money, and it will be easier on your children.
Divorce Property Settlement – Important 4 Step Process
The first step in a property settlement after separation is to identify the total value of the assets and liabilities of each partner. If you and your ex cannot come to an agreement on this, get a lawyer to write down the details. You may divide up the assets and liabilities in different ways, but it is important to have all the details outlined in writing.
When deciding how to divide the assets and liabilities of each spouse, consider your contributions to the relationship and family. Also, think about the future needs of both parties. Consider aging, health and care of children. You may also want to consider spousal maintenance or child support, as well as a one-off future needs payment.
A property settlement after separation can be complicated, but it doesn’t need to be. A divorce lawyer can help you settle your property issues out of court.