Dividing Your Property after Divorce

While it may seem like processing your divorce papers is the most difficult and time consuming step in divorce, many couples have found that dividing their property afterwards is the source of even more stress and ill will. Negotiating the division on your shared property is not likely to be easy or simple. However, there are some rules of thumb that you can follow in splitting your assets and debts.

Sometimes, you need a divorce attorney to help you stand up for your rights when you are dividing your property. For an Oceanside divorce lawyer who will fight for you, contact Fischer & Van Thiel, LLP at 760-722-7646 today to discuss your case.

Who Gets What?

A general rule is that whatever property you own before your marriage, you will still have these assets after your divorce. However, if it is something that you co-owned with your ex-spouse, it belongs equally to both of you. In many cases, couples can assign values to property items, and then they split the property so that each gets an even amount of financial value.

Debt after Divorce

Like property, debt that belongs to one person before the marriage will still be owed by the same person after the divorce. However, any debt acquired during the marriage will be divided, just like the assets. Even if your spouse bought something that you didn’t want, if it was put on a joint credit card, you can be held responsible for paying it back.

Unfortunately, debts can be equally divided between the spouses, much like assets. Additionally, if your former spouse fails to repay his or her debts, you may be the one held responsible. Before filing for divorce, it is recommended that you discuss the possible outcomes with a qualified Oceanside property division attorney.

Contact Us

Division of the assets and debt can be intimidating. If you or someone you know needs help with divorce proceedings, talk to the Oceanside divorce lawyers from Fischer & Van Thiel today by calling 760-722-7646.