One of the biggest concerns people have about an upcoming divorce is what will happen to their personal property. Almost everyone has heard some story about one person losing everything while their spouse seems to win completely.
Such stories likely seem exaggerated, but they do drive home the importance of protecting yourself during a divorce. There are many ways to do so that don’t involve staying in an unhappy marriage just so you don’t have to split up your property.
Ask your spouse for a postnuptial agreement
If you’re concerned about the prospects of divorce being on the horizon in your marriage, then you may want to enter into a postnuptial agreement. It can allow you two to decide how you might want to split up property when you divorce while things are amicable between you instead of doing so if your marriage hits the rocks.
A successful postnuptial agreement might help the two of you save your marriage. At the very least, it will give you control over the outcome of your divorce and allow the whole process to move more quickly.
Find evidence that major assets are your separate property
The courts will split up most everything acquired during your marriage, but you can protect some of your property from division. Items you own before marriage, gifts and inheritances are all typically separate property that your spouse can’t claim unless you’ve commingled those assets with household assets. Financial records and estate documents can help establish certain property as separate and therefore not subject to division.
Negotiate a property settlement before you go to court
While some couples communicate directly with one another, others find it easier to do so through their attorneys. Others find that they need outside help, like the services of a mediator.
You two may be happier with the outcome in your case if you can come up with a property division arrangement outside of court. This approach may allow you both to actively protect the assets that matter the most. It may also remove some of the uncertainty associated with a judge making such decisions for you.
Careful planning and also legal assistance can make a big difference in how successful you are in achieving your property division goals during your divorce.