When it comes to divorce and the distribution of marital property, our state recognizes equitable division. This means that the marital estate should be divided fairly. The law doesn’t require that those assets be divided evenly. This, of course, gives each spouse room to argue for a division plan that is advantageous to them. Going into the property division process, then, you have to be prepared with arguments that demonstrate why your proposed distribution scheme is equitable under the circumstances.
But how can you do that and still get the most out of your divorce? It’s a good question, and one that you need to answer to properly formulate your divorce legal strategy. While the specific approach you take in your case will be fact-sensitive, there are some broader steps that you can take to better position yourself for the outcome that you want. Let’s look at some of them here.
Take these steps to get the most out of the property division process
There’s a lot of work to be done if you want to gain an edge in the property division process. Here are some of the actions you should take to secure your interests:
- Conduct an inventory: You have to know which assets fall into the martial estate before you can develop a cohesive properly division strategy. That might sound simple enough, but you’d be surprised by how many assets were previously unknown to you and weren’t discovered until you started digging. So, be as thorough as possible here to make sure you’re not leaving something out.
- Acquire valuations: If you have assets that have significant value, but you don’t know what they’re worth, then you should have an expert come in to appraise them. Only then will you know how you can address those particular assets in your legal strategy. These valuations are especially beneficial if you have artwork or heirloom jewelry.
- Create a post-divorce budget: This document will highlight what your standard of living will look like once your divorce is finalized. If things are going to be tight, then you might have more wiggle room to argue for additional marital assets.
- Consider sacrifices: If you sacrificed your own education and career to support your family, then you could use those facts to support a request for a larger portion of the marital estate. These arguments could also support a request for alimony, so consider the best way to strike a balance between the two so that you position yourself as strongly as possible for the next stage of your life.
- Think about marital bad acts: If your spouse acted egregiously during your marriage and during the pendency of your divorce, such as by intentionally squandering away marital assets to prevent you from acquiring them, then you’ll be justified in requesting a larger share of the marital estate.
There are several legal issues you’ll have to address in your marriage dissolution. If you don’t develop strong legal arguments to support your position, then your spouse might take advantage, leaving you in a weak financial position as you move into the next chapter of life.
You can’t let that happen, which is why now is the time to careful thinking through the strategy that you want to implement in your case. With a little forethought and careful consideration, you can craft persuasive legal arguments that give you solid legal footing for your requests. While no one outcome can be guaranteed in the legal process, this will certainly increase your chances of success.