Divorce conjures several stressful issues to work out, such as dividing your assets. Deciding who gets what when the marriage ends is a challenge, but if you plan ahead, it doesn’t have to turn hostile. The   Michael A. Newland Law Office in Hamilton, OH, helps couples navigate the process and ensures each client is aware of what they’re entitled to. He offers a few tips on how to divvy up property to enter the new chapter of your life financially secure.

3 Tips for Dividing Your Assets During Divorce

1. Understand What Marital Property Is

Before you begin splitting possessions, it’s important to understand what your state designates as marital property. Typically, only the assets you’ve collected during your time together will be deemed as such. A divorce lawyer will assess your inventory to help you identify what items need to be discussed.

2. Determine What You Can & Can’t Live Without 

Compile a thorough list of all the assets you own. Next, prioritize what you wish to walk away from the divorce with. Be realistic and remember that you’ll have to divide your property fairly. If you want a certain high-value item, you will need to give up something else of equal value. 

3. Practice Open & Honest Communication 

Being open and honest with one another is the only way to ensure your property is divided accurately. Failure to report assets or intentionally trying to hide them can result in significant financial punishment and delays in the process. The more you communicate and welcome fair negotiations, the more open your spouse will be.

With a little effort and professional assistance, you can amicably divide your assets. The Michael A. Newland Law Office will protect your interests and guide you through the process to achieve the best possible outcome. If you can’t reach an agreement, he is also qualified to provide you with effective representation in court. Contact the office at (513) 887-9595 to schedule a consultation, or visit him online to learn more about the divorce lawyer and his firm.