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Mark Abzug

Assets and debts must be divided in the divorce process

On Behalf of | Jul 5, 2018 | Property Division

One aspect of divorce that is true in almost all cases is that assets and debts have to be divided between the two parties. In some cases, this is a simple process but it can also be very difficult if there are complex elements present. We realize that you might not be interested in trying to work through these matters with your ex, but this has to happen for the divorce to end.

The first thing that is considered in these cases is whether there is a prenuptial agreement. If there is one, the division will be handled based on the terms of the document. There might be some cases involving a prenup that have some assets or debts that aren’t covered in it. In these cases, you should be prepared to work through the negotiations to determine who is going to get what.

As you are considering the options for the property division, you might find that it is easiest to divide the larger assets first. You can then use the smaller assets and the debts to balance things out. Additionally, this enables you to get the most difficult divisions out of the way first.

We want to help you look at things from a logical standpoint. Instead of thinking emotionally about the assets, you can look at how the available division options will affect your financial stability now and down the road. This might help you make difficult decisions since you will be looking toward the future. Even though this is a tough process, we can help you work through it all.