5 Tips for an Easier and Smarter Property Division | Divorce Information

packing boxes property division

Property division is a difficult part of any divorce or separation, but it doesn’t have to be. Here are a few tips to help you get what you need, and be able to walk away with an amicable relationship and long-term financial plan.

1. Ask for Help
Without the right representation and counsel, property division can become and an extremely convoluted and heated part of any divorce or separation. However, with the right people at your side, you can have someone in your corner who can look out for your needs and wants. The right people,  can create a plan that works for you, and helps you look towards the future.

2. Learn the Law
While separation is a long and complicated process that requires professional involvement, it is important that you familiarize yourself with the pertinent laws. Property division is different in every province, so be sure to look up laws and proceedings specific to your location.

3. Think About the Value
Sentimentality is an important part of our lives. It can connect us to memories, to the past, and even helps us to live in the present; but it can also be detrimental to the property division process. Most arguments and confrontations during the separation process focus on property, including everything from pets to real estate. When you are going through this process, be sure to consider the value of things very carefully and objectively. Some things will be extremely important, but others, if you take the time to really consider them, will likely not be as important as you once thought.

4. Be Honest
First things first: hidden money and assets get found. It is a simple fact of most divorces and property divisions that many people to hide assets, and almost all fail. The best defence in the case of financial assessment is being open and honest. It may result in less money, but it eliminates the chance of assets being found, and the subsequent bad blood and legal issues.

5. Think of the Long-term
Sure, there are things that you may want now, but divorce and separations are also about you starting a new chapter in your life. If given the choice between something good now and something even better in the future, take the latter. It may require some patience and maybe even some lean living right now, but it will be better for you in the long run if you make smart, long-term, focused decisions that secure your financial future.

For more divorce information and spousal buyout support, contact Krista now.

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