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Handling property division in divorce settlements

| Dec 26, 2012 | Property Division

Many people believe in marriage, but some marital unions simply drift apart and end in separation. Divorce is the legal process wherein such a separation is formalized and a marriage is dissolved. It is a fact of life for many Clarksville residents, and the process can involve emotional and financial stress. Contentious divorces can result when emotions get heated and couples disagree on important issues.

Property division is one of the topics that are usually attached to the word divorce. Properties can be in the form of bank accounts, houses, cars or even valuable artworks. These properties may be bought during the couple’s marriage or even prior to it. Marital properties, like the primary residential home, can be challenging to divide during the separation, especially if the marriage lasted a long time. Aside from properties and assets, debts are also divided during complex division of properties.

There are, however, a number of ways to handle the issues of divorce and property division. The first is the traditional litigated divorce process, in which a judge rules on the matters that the couple cannot resolve. The judge’s orders are final and binding, which can help couples in a dispute to bury the hatchet and move on with a sense of finality. This is a common process for many Clarksville residents.

The next option for couples is mediation. Through mediation, both parties sit next to each other with one person who acts as a mediator for the couple. Both parties may use this opportunity to talk about their division of property in a discreet manner. For instance, the couple can discuss whether the house is going to be sold and how to divide the proceeds.

Couples may also choose collaborative divorce, wherein both hire lawyers and all four people work together in making agreements involving property division. In order to ensure that equitable division is met during the process, the properties of both parties must be listed and valued before the division.

Due to the complexity and importance of property division, couples going through a divorce may want to be represented by a skilled professional for their own peace of mind and protection.

Source: The Sacramento Bee, “A friendlier divorce,” Pamela E. Spencer, Dec. 14, 2012


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