Splitting These Six Assets During a Divorce
There's a common joke among ex-couples. They say that it might have been better if they didn't accrue so many properties during their marriage. Maybe then, they wouldn't need to argue about who gets what and what gets sold or not. But when you're in a happy marriage, divorce is far from your mind. The idea is to spend your life with your spouse. Whatever you two have accumulated and built during those years were products of your collective dreams and ambitions.
But alas, things do happen that are way beyond anyone's control. Even though you have tried to make your marriage work, you both find it is more practical and healthier to get a divorce. While the decision to get divorced is amicable, the division of assets is not. Who gets what? Which properties should you sell? What about those years when only one of you shouldered the payments for these assets? Should those properties still be divided equally?
The easiest solution, of course, is to sell the house and divide the profits between the couple. If one wants to keep the house and the other one wants to make a profit, then the spouse who wants to keep the house should buy the other person's half. This can be done either by cash, by installment, or by exchanging another property of the same value.
The best way to split the business is to continue running it and divide the monthly proceeds between you. Both of you should open a separate bank account wherein the proceeds from the business will be deposited. You can let either a manager or accountant handle this. As for business decisions, make sure to work as a business partner and not as an ex-couple.
The rules of splitting a car are similar to that of splitting the house. You should either sell it or the other person pays the other one half of the value of the car. Legally, the option is to sell the car and divide the profits. This prevents contentious issues on the actual value of the car and the price that the other person should pay for it.
Household Furniture and Similar Items
For smaller household items, apply the same formula. If you work in the kitchen and your spouse doesn't, what should keep you from taking the kitchen gadgets and appliances? Your spouse can take other items of similar value.
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