Property Division During A Divorce

ALLPICS GAVEL Property Division During A Divorce

Property Division during a Divorce

No one stands at the alter with any intention other than being with their significant other for the rest of their life. Unfortunately, about half of all marriages end in divorce, so this dream obviously doesn’t come true for a large number of people. Going through a divorce is undoubtedly difficult, but dividing the marital assets when a relationship is coming to an end can make the whole process even more trying. This is why anyone facing a divorce should understand at least the basics of property division.

Property Division Laws

Just like most laws in America, property division laws will vary dependent upon which state a divorce takes place in. Unfortunately, there are difficulties involved regardless of which state a person lives in. Each state in America is either an equitable distribution or a community property state. States that practice equitable distribution will consider all factors in a divorce and divide property accordingly. Factors can include tax liabilities, emotional value of property and even the need of each spouse; and this is all considered in an effort to make a more equitable division.

In community property states, however, assets are merely divided right down the middle. This may seem ideal, but it actually presents a few problems. A divorce that takes place in San Bernardino, CA, for instance, a city that falls under community property laws, may end with one person receiving $4,000 in bonds while the other receives $4,000 in taxable assets. Sadly, though this may seem equal, it is not due to the fact that one spouse will have to pay taxes on their property while the other may not. Retaining a San Bernardino lawyer who practices divorce law would be necessary to help lookout for their clients best interests in such a case.

Preparing for the Divorce

There are various things that a person can do prior to a divorce if they hope to protect their rights during property division. The first thing to do is to gather all of the family’s financial statements. This includes statements related to bank accounts, stock portfolios, retirement accounts and even lines of credit. Joint accounts should be closed and at least one individual account should be opened. It’s also a good idea to remove half of monetary assets from joint accounts to put into that individual account.

It’s also imperative to separate certain gifts or heirlooms from the whole situation. Personal items that were given as individual gifts, rather than marital property, aren’t usually subject to division. An individual should take photos of these items before removing them from the marital home to ensure protection.

Speeding up the Process

There are thankfully a few methods of speeding up the whole property division process. In the aforementioned community property states, for instance, it can be helpful to have a civilized conversation with a soon-to-be-former spouse about who wants which pieces of property and how to divide them equally. Unfortunately, divorces are not often this civil; so hiring an experienced divorce lawyer is usually ideal.

A divorce attorney will be able to look at a couple’s assets and decide a fair way to distribute the property. Additionally, they can ensure that their client’s rights aren’t trampled on if the other spouse is trying to make the divorce more difficult than necessary. When every aspect of a divorce is considered, having legal help will definitely speed along the process.

Divorce is never going to be an easy process, but luckily, there are ways that a person can at least make it a bit easier on themselves. It’s important to remember during these times to not get discouraged. Going through a divorce may leave a person depressed and uncaring about which property they walk away with, but there’s little doubt that this feeling will eventually subside. Sadly, many people get over this feeling with the realization that they’ve lost everything in the divorce, so the best move a person can often make is to hire an attorney if they hope to protect their rights.

Lisa Coleman shares the impact divorce laws can have on property division in some states. She recently read online how a San Bernardino lawyer firm can help in such a case.

Photo Credit: http://www.flickr.com/photos/60588258@N00/3293465641/

Tags: Divorce, divorce attorney, Property

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Great Things To Be Near When Buying Property

When choosing property, many of us have a tendency to stay overly focussed on what’s inside the homes we’re looking at. It’s easy to get fixated on the size of a property or on how modern it looks, but ultimately these aren’t the things that will have the biggest impacts on your lifestyle.

great things near buying property Great Things To Be Near When Buying Property

What will have much more of an impact on a day-to-day basis though is your location. Depending on where your property is located you will have more or less access to the things you use regularly and you will spend a lot more or less time travelling. Read on to see what some of the best things to be near are…

Supermarket

great things near buying property1 Great Things To Be Near When Buying Property

The single most useful thing to have near you is a supermarket, so that you need never worry again when you run out of milk or bread and so that you can quickly grab food for any event.

Café

great things near buying property2 Great Things To Be Near When Buying Property

Having a café near you is great if you want to meet up with friends somewhere other than your home, if you want to just grab a nice cup of tea in a different environment, or if you’re trying to avoid your housemate’s party.

Takeaways

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All of us have evenings when we’re feeling lazy but hungry and we want convenient food quickly. If you have a takeaway near you, then it will be a simple matter to order yourself a bite to eat that you can enjoy with friends in front of the TV, or on your own when you just feeling like bumming out.

Library

great things near buying property4 Great Things To Be Near When Buying Property

If you’re someone who enjoys reading, then having a library nearby is perfect for running out and grabbing books. Likewise a video rental store can still be a boon too, even in the digital age.

Gym

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Having a gym near you will make it much quicker and easier to head out for a workout when you have a spare hour. This in turn will allow you to stay in better shape and health and make your whole life better as a result. The only downside? There are no longer any excuses not to train…

Beaches

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If you want to impress your guests then few things will do that quite like a sea view. At the same time, being near the beach will mean that you can go for jogs by the sunset, or that you can go for scenic walks/collect shells. It’s a great way to unwind and chill out and that’s why being near the sea is one of the most sought after features for any property. Any real estate beaches are near to will instantly become more popular…

Friends

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Having a friend just down the road is incredibly useful. Not only does it mean you have help to hand when you need someone to babysit your pets or when your fridge stops working, but it also means you can grab a coffee at that café down the road when you just fancy a chat - without it becoming a huge effort.

This post has been authored by Jim Carter, a freelance blogger who often writes for Mark Richards Real Estate, a team of home design experts based in Toronto. He is quite passionate about learning new things and he enjoys going on camping trips when he gets free.

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Tags: Buying, Great, Near, Property, things

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Why You Are Wasting Your Property Right Now

property Why You Are Wasting Your Property Right Now

If you’re the house-proud type, then I’m not here to upset you or to insult you. I’m sure your home is lovely, well decorated and well thought out. However, if you’re like most people then your house is probably also somewhat underwhelming. Chances are that it’s just… a house and that it’s not really going to make anyone go ‘wow’ when they walk in or end up on an episode of Celebrity Cribs. You probably have a living room with a sofa and two arm chairs, you probably have a bedroom and a few guest rooms, and you probably have a front garden with a little bench in it… just like everyone else.

While your home may be perfectly nice if it fits this description, it also means you probably aren’t making the very most of it. You don’t actually have to be super rich in order to make your home look like something that might inspire envy from your friends and you can actually get a long way with just some basic changes and additions. You’d probably be surprised what your home is capable of, so read on and find out just what changes can benefit you the most…

Your Spare Rooms

property1 Why You Are Wasting Your Property Right Now

Having a spare room is one of the biggest wastes of a room possible. The very nature of a spare room or a guest room means that you’re only likely to use it if you have guests round or if you need to store your junk. The rest of the time you’ll be getting zero use from it.

Instead then, why not see if you can’t use your spare rooms for something a little more inventive that will impress your guests and make your home more fun to spend time in. For instance, a guest room could in fact be a home theatre (you just need a projector and some heavy curtains), a home gym or a library. Any of these things will make your home much more desirable and they will barely cost anything to implement. Then when you have guests, it’ a simple matter of unfolding a sofa-bed to give them somewhere more interesting to sleep.

Your Storage

property2 Why You Are Wasting Your Property Right Now

Likewise, if you have spaces in your home that are just for storage, then that is also a waste of what’s probably a large amount of space. Anything from a basement to a loft to an attic can be converted into a studio apartment, a bar or a second living room and this will greatly increase the number of potential uses for your property. Most basements are capable of this, you just need a waterproofing company and some imagination.

Exciting Features

The other way to get more from your home is just to invest in a few centre pieces and features that will make your home stand out and give it that wow factor. These features needn’t be expensive even - just a little different. How much nicer would that bench in the front garden look if it was next to a small novelty lamppost? And you’d be surprised how inexpensively you can add a balcony, with nice garden table, to your upstairs bedroom. All it takes it a little imagination and time and you can get a whole lot more from your home.

Today’s guest post is authored by Daniel Lorenzo. He is an interior designer by profession and an innovative one at that. He is keen sports enthusiast and loves to spend his free time watching soccer on tv.

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Tags: Are, Now, Property, Right, Wasting, Why, You