The narrative surrounding divorce is changing as the years go by. Divorce is no longer viewed as a conflict court process only. People are now using alternative ways, including collaborative divorce, to resolve their disputes without going to court. Collaborative divorce offers significant benefits, but can it be successfully employed in property division?
The following are three tips for handling property division outside court:
Make a list
You and your spouse should list all your marital property. It will help to understand Kentucky laws, as not all properties acquired during a marriage can be considered marital property.
After making a list, you should compare each other to spot any differences. If your spouse left out an asset, get information on why they did that. They may have forgotten, or it may legally not be marital property.
You should review your lists until you are satisfied. Handling property division outside court is unattainable if you can’t agree on a matter or if you believe your spouse is hiding assets.
Agree on a criterion
Property division outside the court can be more manageable if you and your spouse agree on a distribution method. For instance, if you have kids, you may give the family home to the chosen custodial parent, and so on. A detailed criteria can also help you make fair decisions.
Be ready to compromise
Compromise is an essential quality in all divorce aspects, including property division. While it’s crucial to protect your interests, you may need to compromise, so your spouse can also get their wishes. You don’t want to end up with only liabilities, but they should also not.
Collaborative divorce can be used as a solution in property division. However, you should get legal guidance to make informed decisions.