When you’re going through a divorce, it can be hard to settle how you want to divide your property. On one hand, you may think that you can be reasonable and split your marital property 50-50, but on the other, you may be aware that it’s more complex than you think.
You and your spouse may not be getting along well at the moment, and sitting down for a conversation might not be productive. So, how can you go about dividing your property when it seems like an impossibility?
- Decide if there are items you’re both comfortable selling
The first thing to do is to work out which items you or your spouse want as well as which items you’re willing to sell. You and your spouse should both write down the items you’d like to keep and compare notes. You can do this by communicating through your attorneys if you can’t sit down together to work through these lists.
For large items, like your family home, you might consider selling the property and splitting the proceeds. Doing this eliminates more complex arrangements and can give you for liquid assets to negotiate with.
- Know when you need additional help
Another thing to keep in mind is that you may need additional help from professionals like a mediator, attorney, appraiser or forensic accountant. It’s okay to ask for help coming to an agreement on the true value of certain property or working through a standstill when you and your spouse can’t agree on how to divide a few pieces of property.
- Be flexible and willing to negotiate
Finally, try to remain flexible and be willing to negotiate when you can. Although it can be a little frustrating to ask for items and not get them in the divorce, being able to be flexible can help you get as many of your chosen items as possible without losing out on much. A good negotiation strategy could help you get more cash in exchange for assets or get you more of the personal assets you want for giving up a few items your spouse needs.
Property division decisions can be tough, but they’re important. Take your time, and you will be able to find a solution.