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Determining property during divorce without losing everything

On Behalf of | Nov 13, 2017 | Property Division |

For many divorcing Texas couples, the decision to end their marriage and go their separate ways was not one made without first considering other alternatives. Unfortunately, even though divorce is a helpful solution for many, it is costly in terms of a couple’s health, financial independency and even reputation. However, with careful attention paid to doing things the right way, many couples have been able to overcome the difficulties of their circumstances and regain their independency and happiness. 

Separating property during a divorce is often wrought with disagreement and disappointment. Fortunately, by implementing a couple of critical behaviors during property division, couples may be much happier with the outcome of proceedings. According to Live About, here are some of the things they can do:

  • Do a little research: One of the best things a person can do when they are getting divorced is to spend some time becoming familiar with the laws surrounding divorce in their state. With a basic understanding of what to expect, what is acceptable and the course things usually follow, a person may feel much more confident going into the process.
  • Invest in mediation: Mediation is an invaluable tool for couples who are indecisive and argumentive about how property should be divided. However, for those couples who are unable to hire a mediator, it is imperative that they work together to separate things and avoid wasting time on small things that hold little value.
  • Do not be secretive: A potentially incriminating mistake that any divorcing person can make is to hide things that they wish to keep. Doing so jeopardizes the likeliness that they will get any of it at all if their dishonesty is discovered. 

According to Divorce Magazine, even though the economy has fluctuated significantly over the years, many married couples still share a home. Often, during divorce, the home a couple shares is their biggest asset. Determining who gets to keep it requires careful negotiation.