Divorce is one of the saddest and most complicated legal proceedings in modern life.
With more than half of first marriages ending in divorce, rather than in the death of one spouse, it’s one that you have a 50% chance of experiencing in your lifetime.
One of the things you need to deal with is the division of your property and assets. It’s better to mutually decide what happens to your property when you split up than to have a judge make that decision for you.
Separation of property becomes all the more important once you know a divorce is coming. Make sure you know what’s yours and be ready to make a stand for it. It’s your future.
What Is Non Marital Property?
In a divorce, certain types of property are separate property and not subject to division. These include property that a spouse owned before getting married, inherited property or gifts to one spouse only and part of some personal injury awards. Some states separate income once the couple is formally and permanently separated, prior to the finalization of a divorce.
What About My House and My Business?
Assets in divorce are divided by principles of equitability. In short, fairness. Many people often ask what will happen to their home or their business in the divorce.
In some cases, equitable distribution of property will result in the property being divided equally. In many cases, however, especially with high-value assets that can’t be evenly split, like a house or a business, the division won’t be equal.
How Can I Keep My Property Separate in Divorce?
An agreement to keep property separate can help with important questions of post-marriage property dispersal. Contact the Law Offices of William R. Pike Law LLC. We are Dallas GA divorce attorneys, and we’re here to help you solve all the trickiest problems of marriage dissolution with sensitivity and grace.