Going through a divorce is never easy, and to make matters worse, you need an in-depth analysis of your assets so that you can divide them. If you haven’t agreed with your former spouse, asset division may become a problem.
There are several things that the court looks at when dividing up your assets. For the most part, the division will follow a 50/50 split.
Nonmarital assets
Nonmarital assets become very important in asset division. These are assets that you had before you got married or, in very special cases, assets that are solely yours. There are some cases where an asset you have previous to marrying becomes a marital asset. For instance, if you have a house, you buy a house before you marry but live in it as a married couple.
Economic circumstances
If you lose or give up your career during the marriage to support your spouse in other ways, you could be eligible to receive more of the marital assets. You have to be able to prove this to the court through records.
Spousal contribution
If one spouse contributes more to improving an asset, such as a business or home, the courts may award more of that asset to the contributing spouse. Again, you have to prove this in court through hard records or witness accounts.
Care of children
One special circumstance where you might receive more than a 50/50 split is if you have children. Many times, the custodial parent gets the house for the sake of the children.
The division of assets is a complex process. If it is solely left to the court’s discretion, they will spilt the assets evenly. It is up to you to prove that you deserve more.