Getting a divorce is a process with many steps, and one of those steps is dividing up your property. This can be a complex and emotional process, especially if you have a lot of shared property. However, keep in mind that you must keep yourself composed to make the best decisions for your future. If you’re wondering what will happen to your property after divorce, here’s everything you need to know.
Categorize your properties
First, you’ll need to determine what is considered marital property and what is not. What are they?
Marital property
Marital property is any property you and your spouse obtained during the marriage. This includes homes, cars, furniture, bank accounts, investments, and retirement accounts. It also has debts that you and your spouse incurred during your marriage.
Non-marital property
Meanwhile, non-marital property is any property you acquired before you married or inherited during your marriage. It also includes any property that you owned after you got divorced.
After that, make a list of your assets and debts, both marital and non-marital. This will give you a good idea of what needs to be divided during divorce.
Get appraisals
If you’re going through a divorce, one of the most important things to do is get an appraisal of your property. This will help ensure that you receive a fair division of assets. The appraiser will consider your property’s size, age, and condition, as well as any recent renovations or improvements. They will also consider the location of your property and any special features or amenities it offers. Once the appraiser has appraised your property, they will provide you with a report you can use to negotiate a fair division of assets with your ex-partner.
Hire an attorney
One of the most important things you can do when going through a divorce is to hire an attorney. Many people try to handle their divorce independently, but this is usually not a good idea. Many complicated legal issues are involved in a divorce, and an experienced attorney can help you navigate the process and protect your rights.
In addition, you might also want to hire a lawyer for estate planning. This attorney will help you create a will and trust, as well as other documents that will help you protect your assets after your divorce. They will ensure that your chosen beneficiaries will receive your assets according to your wishes. This is a great way to protect the assets you received after the separation, giving you peace of mind during this difficult time.
Moving on after divorce
Once everything is settled, and you have your assets, it’s time to move on with your life. This can be a complicated process, but it’s important to remember that you’re not alone. Here are some tips to help you through this tough time:
Seek out support
This is probably one of the most important things you can do after a divorce. You need someone to talk to who understands what you’re going through. You can seek support from friends, family, and people you trust. They can offer you a shoulder to cry on and a listening ear when needed.
See a therapist or counselor
Professional help can be beneficial after a divorce. A therapist or counselor can help you deal with the emotions you’re feeling. They can also help you work through any issues you have to move on with your life. This will help you in the long run, both emotionally and mentally.
Join a support group
If you’re looking for more support, consider joining a divorce support group such as LoveShack and Daily Strength. These groups are designed to help people who are going through a divorce. They can offer you practical and emotional support as you work through this tough time. You can also meet new friends and build a stronger support system.
Rebuild your life
Once you’re ready, it’s time to rebuild your life. This is a new chapter in your life, and you can make it whatever you want. Start by setting some goals for yourself. Is there anything you want to accomplish? What are your personal dreams and aspirations? Once you have a plan, start taking steps to achieve your goals. You might also want to consider moving to a new location, starting a new job, or taking up a new hobby. The sky’s the limit!
The bottom line
Divorce is never easy, but with the proper knowledge and support, you can get through it. These tips will help you navigate the process and protect your assets. With time, you’ll be able to move on with your life and rebuild it the way you want.
