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We help simplify complex property division during divorce

| Oct 31, 2017 | Divorce, Firm News |

Assets, no matter how large or small, can be understandably important to people. Whether focused on a home, business interests or another important asset, divorce can create a significant amount of stress. No one in Nebraska wants to feel as though they are forking over everything they own during asset division, which makes it incredibly important to understand how equitable distribution works.

Despite pervasive divorce myths in TV and movies, most people are not forced to hand over everything to their ex-spouse. Instead, you can expect to receive an equitable share of the marital assets while also retaining complete ownership of personal assets. Equitable distribution does not necessarily mean that you will receive an exact 50/50 share, but can instead expect a fair share that is most appropriate for the situation.

However, determining what is equitable is not always straightforward. Retirement accounts, business interests, investments and even the marital home can be incredibly complex assets that require careful attention. These can all have additional costs associated with them, such as property upkeep, taxes and fines for early withdrawals.

Typically, the longer a marriage lasts the more mingled and complex asset division can be, although there are certainly exceptions. Nebraska couples who have only been married for a handful of years should not assume that their assets can be easily divided during divorce, as taking a flippant attitude toward such matters can result in an undesirable division. We understand how complex property division can be, and are tirelessly strive to reach the best possible outcome for our clients.