While property division might not be as important as other issues in a divorce such as child custody and support, it is still a major part of the case and should be given significant attention. People who have decided that their marriage is no longer viable and cannot be saved will inevitably move forward with a divorce. As they prepare for the future, they will want to be on solid ground with the items from the marriage and prior to the marriage they are entitled to.
In some cases, the splitting of the property is relatively amicable and easy and the parties can negotiate, decide and move on. In others, however, there is endless dispute. In any situation, legal advice is a must. Property that was accrued while the couple was married will be divided equitably. This applies to anything except that which was inherited or gifted to one of the spouses by another party. It is important to maintain focus on the word “equitable.” This is vital as it requires that there be a fair distribution of the property and fair does not always mean equal.
There are many things that could be part of a property division dispute. Perhaps there is a business that both parties lay claim to. How that will be gauged and split can be one of the most contentious family law issues anyone can face. There might have been properties that both say they have a claim to and there is difficulty in proving who the true owner is. This is before considering the possibility that there was a prenuptial or postnuptial agreement.
When there is no common ground, it is smart to have legal assistance and find professionals like forensic accountants and other experts to go through the family finances and properties and come to a determination. No matter the situation, property division can be complicated and difficult. A law firm that specializes in family law can be critical the client keeping what rightfully belongs to him or her. Calling for a consultation is the first step toward handling property division and should not be ignored.