As you move through your divorce, it’s only natural that you focus some of your efforts on property division.
This leads many people to learn more about their home, bank accounts and retirement assets. While all of these things will likely come into play, don’t overlook the fact that personal property will also need divided in the event of a divorce.
Here are some of the many types of personal property that may be divided:
- Home furnishings
- Stamp collections
- Sports memorabilia
- Home office equipment
- Motor vehicles
- Recreational vehicles
If you brought one or more of these items into the marriage, it may be considered separate property. In this case, you can take it with you as you move on with your life.
However, anything that was purchased during the marriage, such as a motor vehicle or furniture, will be subject to property division.
Property division has a way of holding up the divorce process. You hope to put this in the past as soon as possible, but you also realize the importance of fighting for what you believe is yours.
Some divorcing couples are able to work everything out in mediation. Others are faced with litigation, as they are unable to make things work in regards to property division.
The best thing you can do is prepare yourself for the division of property. When you know which items will be taken into consideration, you can formulate a plan that will put you in the right place as the days and weeks go by.
Source: FindLaw, “Checklist: Dividing Marital Property,” accessed Oct. 02, 2017