Division Of Assets: How to Be Fair

1. Division Of Assets: How to Be Fair

2. Introduction With divorce comes division of assets. In wealthy marriages, this can be complex and take several years. In less wealthy marriages, this can be a matter of months. No matter how long you need to divide your assets, it is important to take the right amount of time to be fair. People often have to decide how they will make a deal when it comes to division of assets. You want to make sure that both parties have enough time to decide what they will bargain for. People may have different things that are important to them, but it can take time to sift through items that have accumulated. Whether the couple have been married for a short duration or a long time, they can have important assets that have to be divided differently. For instance, in some divorce cases everything gets split in half-the house is sold and the money is split; the real estate is divided evenly, and the household goods are divided exactly. In others, there are buyouts. One person keeps a large amount of items and pays the other person their amount of the total value in cash or stock. In still others, people share the items and basically loan them back and forth. This turns real estate basically into a timeshare, but it keeps people from having to split interest acquired on the real estate and cut their investment short.

3. To know what type of division is for you, it is important to give the other side enough time to realize what is at stake. People sometimes think they are up for bargaining for real estate or pets. They may get halfway into negotiations and realize that it is not quite worth what they thought in sweat and tears. So be fair by letting people think through their wants all the way. A carefully made list of wants is more worth each party’s time anyways. The lawyers will have an easier time, and so will the families of the divorcing couples as they decide where to spend time and money in the future. The other way to be fair is to share the list of what is really important to you with the other side. In divorce negotiations, people usually have no idea what they are in for when it comes to division of assets. They may never know that the chandelier is the other person’s most prized possession. They may have no idea that the antique silver is worth a whole house to someone, even if the real values of the two items are not equal.

4. When it comes to division of assets, people can show their true desires in ways they may never have thought to do when they were married. Or, it may take a divorce for them to realize what is really important. So be as patient as you can as people take time to decide what is worth fighting for. If the two parties are as different as they believe, given their decision to split, likely they will want different items out of the marriage anyway.

5. Table of Contents • Divorce Mediation: When You Need It. • What to Do When You Have to Share Custody.

6. Divorce Mediation: When You Need It Divorce is never easy. When things become too difficult to speak fairly, you may want to retain a mediator. There are several situations that will require mediation. To be clear, a mediator is different from a lawyer in that they are there to discuss fairness and family values rather than help one side retain assets. You will want a mediator with whom you can communicate clearly. A good mediator is someone who can understand both sides and help them to reach their goals. After all, meetings are expensive and take a lot of time. When mediation goes well, everyone has an easier time legally. It is important to make sure that the mediator leaves a good impression on both parties and can help represent the families involved as well as the soon-to-be divorced.

7. A mediator can take comprehensive assessments of the situation and keep up with fast-changing issues in a divorce. When divorces begin, there are already issues on the table. But as negotiations start, things become more and more complex. You will want someone who is quick on their feet and very sharp to help your family through this difficult time. It is not easy to sit through mediation, but discussions become even more difficult when the mediator cannot stay abreast of the real issue or pick up on subtle differences between parties. When you need a mediator, you will want a good one. How will you know when you need one? In many instances, a mediator is assigned by a judge during proceedings. Divorces can be hard to get or easy to get depending on where you live and were married. But a judge has to preside over most of the process no matter where you are. Some other people that could be involved are pastors or priests, counselors, children’s advocates, and lawyers. A mediator can be assigned by a judge for any number of reasons. They may insist that the parties divorcing speak through a mediator if they are in civil to each other in front of a judge, have temper issues, or are known to be less than truthful with each other’s lawyers.

8. Mediators are a good idea in many cases even if they are not ordered by a judge. You will need a mediator assigned before you think one is required if you feel tension rising to a degree that talks can contain illegal activity. Some things that can happen are swearing in front of children, excessive fighting, or wasting each other’s time to the point of lawsuit. These are all issues that can negatively affect your claim in court. The better behaved both parties are in the proceedings, the healthier everyone is. They also tend to have things awarded in their favor more often. So, you will need a mediator when a judge assigns one. But you also need to get a mediator before things become that tense if you have the chance, so that you stack the odds in your favor with the judge.

9. What to Do When You Have to Share Custody Sharing custody is never easy. You will need to practice diplomacy and the art of negotiation in order to work through child custody mediation. It is important to show your best face and put your best foot forward character-wise, because a judge is watching. They can award custody differently based on many things, but diplomacy and respect are two of the items they can use to adjudicate with. If you are caught speaking negatively to your children about other members of the family, the judge may be in a position to award custody differently, not in your favor. Likewise, you do not have to put up with another family member negatively representing you during child custody mediation. You may be awarded more rights or more time with the children if the other party is at fault in this area. So, keep calm and carry on in all cases. Make time to do things with your family and appear put-together, even though your nerves may be fraught. Childhood is relatively short, and you will want to see your kids as often as you can. The way to do this is through a decent custody arrangement and as much family time as you can manage.

10. It is easy to let family outings fall through the cracks when divorce and child custody proceeding arise, because of all the time you spend doing legal trying to get custody. Do not let that cause a lack of family time for you, though. Child custody mediation can last up to several years, and the time will fly by in the blink of an eye if you let it. The way to get what you want out of child custody mediation is to appear well in front of the judge and to negotiate fairly with the other person while respecting your children’s needs. A kind, caring parent has a much better chance of winning larger custody than someone who attempts to take control of the situation.

11. To bolster your image (and get better results with your family), you can encourage your children’s participation in activities that support their mental health and well being. It is hard to manage the basics of food and enough rest during a divorce proceeding, especially if you do not have custody arranged already. But keep at it! Even if it is just a 15-minute walk with your children a day, you will have a stronger family and a better report with the judge based on the activities you support. The more you practice keeping your family together and actively engaged in healthy activities, the better off you would be when you have to negotiate for your time with the kids. You can take heart in the fact that childhood is relatively short. It is both pressure to do a good job and good news to those who may be tired. You will be done raising the kids faster than you realize, so make sure you schedule some fun. Even if it is a few minutes to play family cards here and there, your children will benefit and remember you.

12. The End Read more at https://www.eidelmanassoc.com/High-Net-Worth-Divorce/division-of-real-estate