Have you started thinking about your divorce and wondered “who gets what?” You’re not alone – not even close. One of the most complicated element of divorce is the division of property, and it can be one of the most stressful, challenging, conflict-fueled, and time-consuming aspects of any divorce agreement. So how can you avoid the conflict of dividing marital property? At Amber M. Serwat Mediation, we recommend divorcing couples seek the help of a divorce mediator to help formulate the fairest and simplest division of property agreement possible. Our Burnsville, MN divorce mediator is a property division expert, helping divorcing couples understand the ins and outs of property division to make divorce as painless and quick as possible.
What’s Included in Divorce Property Division?
Understanding property distribution in a divorce requires the understanding of the difference between marital property and property accrued before a marriage. A divorce property division agreement will include only marital property, or all assets and debts that have accrued between you and your spouse during the time of your marriage. This can include joint bank accounts, houses or rental properties, vehicles, and other shared personal property. By Minnesota law there is an assumed common interest in marital property among spouses, and this property is required to be split equitably in a divorce. This does not mean that property will be split 50/50, but it will be split in a way that’s deemed “fair” by a judge. When you work with a mediator, you’ll have help determining what a judge would deem “fair” in your specific case and how you should divide your property so that your divorce is approved quickly and without issue.
What Are Common Property Division Complications?
Depending on the length of your divorce and how entangled your and your spouse’s finances have become throughout your marriage, dividing property in a divorce can be extremely complicated – especially if you don’t have a legal record of which property was obtained during your marriage and how that property was paid for. Some common complications in property division that can make a divorce more complicated can include determining:
- The exact amount of shared property
- The rightful owner of some property that could have become marital property over the years
- How to divide debts and liabilities that may have been accrued by one party in a marriage
- Who will remain in the family home, especially if there is an issue of child custody to consider
- How much of your wedding will be paid off by you and your spouse, if it has not been fully paid for
- Whether you or your spouse will be required to continue making payments on a family vehicle
Although these are complex issues that can complicate the division of property in a divorce, they can be made simple through professional divorce mediation. If you and your soon-to-be-former spouse need help coming to a legally equitable property division agreement in your divorce, don’t hesitate to get the help you need to make informed and fair decisions. Contact Amber M. Serwat Mediation, and our Burnsville, Minnesota property division mediation expert can help make your divorce simple. Contact us today at 952-252-1492 or firstname.lastname@example.org.