Tips On How To Divide Property After A Divorce

Deciding to part ways through divorce is not easy and requires you to consider several factors. You might have planned to live your life together and share everyday making memories. But, the decision to separate and continue with your life is one of the hardest times you experience. In such times, having emotional support and someone who can take care of your legal matters is important to ease your process.

Dividing property after divorce is quite complex and can significantly affect your future if not taken care of properly. Couples need to have separate attorneys to resolve such issues peacefully. If you are worrying about dividing your marital property after divorce, this blog post might help you. Below we have mentioned some tips to help you divide your property after a divorce.

Review Property Laws

The first step towards property division after a divorce is to read about all the laws that might apply in your case. Although you might not read every little bit of information and detail of the law, it is necessary to know the rules and regulations in place. Knowing such laws will help you get the property that you deserve.

During the property division process, property and liabilities that are ‘separate’ are ineligible for division by the court. Marital property is something in which both parties have contributed, and both of them deserve a part. Such assets might include marital homes, joint bank accounts, shared vehicles, and joint retirement and investment accounts. Therefore, the law will only apply to these joint assets and not the separate ones.

Hire A Professional Lawyer

A professional lawyer can help you resolve your case without a headache. Such lawyers know of all the rules and laws that will apply to your case. They can also serve as a party for property division settlements and help you avoid doing everything independently. A professional lawyer will know what to do if the other party tries to force you into not claiming your part of a piece of property.

Don’t Hide Your Assets

No matter how emotional you are regarding a piece of property, never hide your assets from your ex. Hiding them will put you in more trouble and you might end up losing that part of the property share. Furthermore, it will also severely damage your credibility throughout the rest of the divorce proceedings. Therefore, it is better to show whatever property you have and let the court or legal procedure do their job.

Resolve On Your Own

If you don’t want to receive the help of the court to solve your property issues after your divorce, you can opt to resolve such disputes on your own. The process of dividing the property will take less time and go more quickly and easily if you and your spouse can reach a settlement agreement on your own. This is quite helpful as you won’t have to spend your time and money on court proceedings and other methods.

Why Should You Hire A Lawyer For Property Division?

Dividing property is a critical matter as it involves crucial investments. There is no room for error in such cases that might lead to an unfair division. Professional lawyers know of the real estate laws and can suggest solutions if the situation gets out of hand. Having an expert who can suggest something can save you from going into hot waters and settle your matter more peacefully.

About Peak Family Law

Peak Family Law is an experienced family law firm based in Edmonton, Alberta. We help couples reach suitable separation agreements throughout Edmonton and its surrounding areas. Peak Callihoo Bergsma & Associates is a specialized firm helping families resolve family law matters, including divorce, child custody, access, division of assets, family violence, separation, and prenuptial agreements. We have experienced lawyers who can help you resolve your conflicts more peacefully. Contact us today for expert legal advice.

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