Three Things a Divorce Attorney Says about Asset Division

One of the main struggling points during a divorce is asset division. Both partners usually want more than what they are legally entitled to. That can cause a lot of aggravation. The easiest way to ensure that the end of your marriage does not cost you more grief than necessary is to hire a skilled Salt Lake City divorce attorney. Licensed counselors deal with this issue every day. They can give you valuable advice and negotiate on your behalf. Here are 3 of the issues the lawyer will discuss during your free initial consultation.

 
1. Do Not Forget Your Debt

Make a list of your household assets and debt before you start planning your future. Those credit cards that are maxed out have to be paid off before they can be canceled. If there is nothing left on checking or savings accounts, you will have to sell community property to come with the money to pay the credit card companies. You may have to do the same for other outstanding amounts. That includes the mortgage. One partner pays the other’s share if they want to remain in the house, or the property is sold. If you owe more than what the home is actually worth at this time, you may have to apply for a short sale.

2. Special Concerns

Let the lawyer do the talking, because your counselor is not emotionally involved. Arrangements made between partners should always be done through an attorney. Even written agreements can be disputed, especially by creditors. The people you owe money to are not obligated to honor the agreement made with your spouse or domestic partner. If a contract was signed by both parties, they will come after you if your soon-to-be-ex does not honor her or his obligation.

3. Think about the Future

It could be tempting to give your partner more than his or her fair share just to regain your freedom. He or she is out of your hair, and you can move on. That may be a quick solution now, but one you may eventually regret. What are you going to do when times get tough? In this economy and with the unemployment rate being very unstable, who knows how your financial situation will be in 5 or 10 years? A concerned Salt Lake City divorce attorney will ask clients to think ahead. Waiting another month is often worth it.

 

*Image source: Arztsamui at FreeDigitalPhotos.net

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