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Don’t get stuck with all debts and no assets in your divorce

On Behalf of | Sep 24, 2015 | Property Division

Going through a divorce is something that can easily try your patience. While you might be ready to be done with your ex for good, if you have property together, you have to deal with that ex so that you can divide the property. The good news is that there are options that you have for doing this that might make the whole property division process easier.

We can help you to learn about your rights for dealing with the marital property. It is important for you to remember that marital property doesn’t include only the good stuff like assets. Marital property also includes the negative stuff like debts. We can help you to learn about your options for dealing with both sides of the property division so that you won’t be ladened with debt and left high-and-dry when it comes to the assets.

One important distinction that is made during the property division process is the classification of property. All property has to be classified as either marital property or non-marital property. Marital property is any property that was acquired while you and your ex were married. Non-marital property is property that was acquired prior to your marriage.

Of course, there are some exceptions to that dividing line. We can help you to learn how to classify property for your divorce so that you can make sure that you have a settlement that puts you in the best financial state possible after the divorce is finalized. We can even help with complex valuation if your marital assets are considerable or complicated.

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