Even in relatively amicable divorces, dividing the marital assets is one of the hardest parts. Unfortunately, many divorcing couples get caught up in heightened emotions, which can cloud their judgment and lead to impulsive decisions they might regret later. Preparing for negotiations and talking with your divorce attorney can streamline the process and help ensure you have the resources to start rebuilding your life. Keep the following in mind as you begin preparation. 

3 Tips for Dividing Your Marital Property

1. Inventory Your Assets

Dividing your estate fairly starts with having an in-depth understanding of your assets, including your retirement accounts, cars, real estate, and other belongings acquired during the divorce. In Georgia and most other states, each party is entitled to an equitable share of the entire estate. What constitutes a “fair share” may change on a case-by-case basis, depending on the length of the marriage, each party’s contribution, and a variety of other factors.

2. Set Your Priorities

Before negotiating with your spouse, think carefully about which of the marital assets are most important to you and which you can afford to let your spouse take. In many cases, your divorce attorney may be able to trade away low-priority items in exchange for belongings that matter most. For instance, your spouse may be willing to exchange their share in the marital home for the car, certain antiques, or your interest in the retirement account.

3. Calculate Your Debt

Many divorcing couples forget that dissolving the marriage also means dividing up their debt. Adding up the total debts, including student loans, credit cards, and lines of credit, will help you decide how to use these accounts in negotiation. If you’re most interested in starting a new life with a minimal obligation, you may consider letting your spouse take a larger share of the assets if they agree to take the debts along with them.

If your marriage is coming to an end, Smith & Tabor Attorneys At Law will offer the detailed legal insight you need and compassionate treatment you deserve. Since 1985, the divorce attorneys have helped clients throughout Stephens, Habersham, Franklin, Rabun, and Hall counties navigate the complexities of the process and move on to the next phases of their lives. Visit their website to learn more about the team or call (706) 886-5141 for a consultation with an accomplished divorce attorney.