When you are going through a divorce, trying to figure out how you are going to split up your marital assets can take all of your energy. It's important to know what you are entitled to when it comes to your assets. Depending on whether your state is an equitable distribution state, or your state is a community property state, you should never agree to accept less than your fair share of your marital assets. If you and your divorcing spouse are fighting over every asset, a divorce attorney can handle the negotiation process for you. Once you decide what you want to get out of the divorce, your attorney can argue on your behalf so you don't have to.
Marital Assets Vs. Separate Property
Anything that you and your spouse have accumulated during the course of your marriage is considered marital property and will be divided up. You might have separate property that you either owned prior to your marriage, and this is yours to keep if it was always kept separate. In addition, any inheritance you might receive during your marriage is yours unless you put the money in a joint bank account. For example, if you inherit $100,000 and put $10,000 into a joint bank account, you get to keep the $90,000 if that was kept separate from your marriage.
When Your Spouse Is Difficult
Once you realize what you can expect from the division of your marital assets, it's time to take a step back and allow your attorney to negotiate for you. When there is harassment or bullying involved, you don't have to take the attitude from your former spouse. If they are arguing over every little detail, understand that the negotiation is going to take some time. Know what you want from the divorce, and know what you are willing to give up in order to make the divorce final.
Division of Debt
Dividing up your debt goes the same way as dividing your assets. If you have a credit card in only your name, this becomes your debt after the divorce. If you both owe money on a debt, this is going to be divided up between the two of you.
When you are going through a divorce, the only way to get what you deserve is to work with a divorce attorney. Know what you want and what you are willing to give up so that you can give a clear picture to your attorney. For more information, contact a company like Bray & Johnson Law Firm today.