When parties separate, they must first determine their marital assets. This includes real estate, automobiles, non-titled personal property, household contents, bank accounts, and collectibles. Assets and debts acquired during the marriage are also marital. They must also establish their values. It is best to determine these values as close to the date of separation as possible. Then, they can divide those assets between them. However, there are a few important things that both parties should know before the divorce.
The Uniform Marriage and Divorce Act provides some guidance, but the court must divide the property and debts between the two spouses. During the 18th, 19th, and early 20th centuries, the majority of divorce statutes favored the wage-earning spouse. However, this has changed over the last several decades. Today, many laws take into account the role of homemakers and child-raisers. The court may consider the interests of the children in dividing property, such as retirement accounts and a child’s college education.
Divorce attorneys are experienced in identifying hidden assets and dividing them according to their value. Divorce lawyers are trained to spot such assets and debts and can assist the client with the process. To avoid a conflict of interest or to receive the fairest division of assets, couples should disclose all financial information up front. They should also consider the state of residence. When determining how to divide property, an attorney can provide you with a detailed analysis of the court’s rules and your unique situation.
Property is the most crucial aspect of the divorce process. If the couple owned real estate prior to the marriage, it is not considered marital property. In New York, the state follows an equitable distribution model, which means that property will be divided fairly. While community property states split assets evenly, equitable distribution states look at the couple’s overall situation when dividing the assets. This way, the couple can keep their separate properties. The judge will be able to decide the property division in a way that benefits both parties.
During the separation, the parties may agree on how to divide the marital property. Unless the parties have agreed on the division of separate property, they cannot do so. If there are no such agreements, the court will determine what is fair and equitable. A fair and equitable division is the only way to protect one’s assets. However, it will not necessarily be easy. However, a divorce attorney will guide you and help you understand your rights and obligations regarding property division.
If your spouse argues for a higher divorce price, it may be worth hiring an attorney. However, this is only a good option if the couple is willing to settle on a lower settlement price. Divorce lawyers often charge by the hour, so it is advisable to seek legal counsel before hiring one. Depending on the circumstances, you may have to go through several court appearances. If your partner is unwilling to cooperate, your attorney can still resolve your divorce case.
Other factors that may affect the division of separate property include the parties’ direct and indirect contributions to the value of the marital property. If one party commits adultery, for example, that person may have been a party to the relationship. But this is not enough. Even if your spouse has committed adultery, the court will not be able to grant you a divorce if he/she forgave you or allowed you to do it. Moreover, if it was intentional, the spouse cannot ask for a divorce unless the other party witnesses the adultery.
If you need your divorce as soon as possible, it is best to seek legal advice. You can call the Rights of Women advice line for further advice on filing for a divorce. In addition to the filing of a divorce petition, you should send a copy to the respondent’s usual email address or postal address. This process is called service and the court will send the respondent an acknowledgement of service. This acknowledgement can be found in the final hearing, or it may be dismissed altogether if you and your spouse change your minds about the divorce.
The most common cause for divorce is conflict, arguing, or irretrievable breakdown of a relationship. Other less common causes are infidelity, lack of physical intimacy, and a lack of shared interests. It’s also important to remember that many major life transitions occur in the 50s and 60s. These changes can lead to divorce, so it’s important to know the right reasons to file for it. This way, you can avoid making a poor decision.