Dividing property in a divorce takes a lot of time and patience. Both parties need to voice their opinions and come to some sort of agreement. The Law Office of David A. King P.C. emphasizes the importance of creating a list when discussing the division of property.
The list should consist of both your assets and your debts. Assets can range from a variety of things. Some examples of assets range from land, life insurance policies, and credit cards. As long as an item can be associated with a cash value, it can be argued to be an asset. Once you list all your assets, you can list your debts. The debts you list can be from your marriage or from the divorce process. The Law Office of David A. King brings up how auto loans, student loans, and personal loans should be included in your list.
After going through all your assets and debts, you should sit down with your ex-spouse and discuss the divison of property. If you both create a list, then everything will be out in the open. Both of you will be able to see what is being divided and going through the lists will help keep order.
To read the full blog, visit The Importance of Listing Assets and Debts in Your Divorce.
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