When a couple decides to split due to irreconcilable differences, the thought of coming to an agreement on how the couple’s money and other assets should be handled may seem overwhelming. In many divorce cases in Florida and other states, the two parties simply don’t agree with giving up property or assets to which they feel they are entitled. When these assets come with high values, either monetarily or from a sentimental point of view, a difficult property division battle can happen.
Choosing an agreeable way to sort out matters involving property and assets is often preferred among divorcing individuals. However, it is only possible if the two parties are willing to put their differences aside and find common ground. Couples often are caught up in their emotions during a divorce and thus fail to approach a divorce settlement logically.
Negotiating on issues such as who will keep the family home and who will get to keep Grandma’s heirlooms can help both individuals to get what they feel is their fair share of assets. Focusing on each other’s interests and being flexible enough to address issues creatively may yield surprisingly harmonious results. When both parties walk away from the negotiating table happy, they can more confidently move forward with their independent lives.
Common assets that are fought over include life insurance, retirement assets, real estate, business interests and stock. Divorce often is a complex process financially, especially for those who have been married a long time and have accumulated many assets over the years. However, understanding divorce-related laws might help an individual in Florida to make more informed decisions when it comes to striving for a final divorce settlement with a soon-to-be-ex.
Source: clevelandjewishnews.com, “Each side has interest in dividing property during divorce“, Danielle Hess, June 19, 2014